Banco Votorantim Secures Landmark $500M Issuance via Luxembourg Branch
Deal News | Apr 11, 2025 | Clifford Chance LLP
Clifford Chance, a renowned global law firm, has assisted Banco Votorantim S.A. (BV) in executing a significant financial transaction through its newly established Luxembourg branch. BV has successfully issued US$500 million in 5.875% senior notes due 2028, marking its inaugural issuance under its US$5 billion Global Medium Term Note Programme. The notes, which are listed on the Global Exchange Market of Euronext Dublin, were purchased by a group of initial purchasers, including prominent financial institutions like BofA Securities, Citigroup, and J.P. Morgan. The offering was structured to comply with the U.S. Securities Act, involving both Rule 144A and Regulation S tranches. The transaction underscores Clifford Chance’s robust capabilities in cross-border financial deals and highlights BV’s strategic expansion through its Luxembourg branch.
Sectors
- Financial Services
- Legal Advisory
Geography
- Brazil – Banco Votorantim is a Brazilian financial institution leading the transaction.
- Luxembourg – The issuance was made through Banco Votorantim's newly established branch in Luxembourg.
- United States – The notes were structured to include Rule 144A offerings, aligning with US securities regulations.
Industry
- Financial Services – The article discusses the issuance of financial securities by a bank, a core function within the financial services industry.
- Legal Advisory – Clifford Chance, a global law firm, plays a pivotal role in structuring and facilitating the financial transaction.
Financials
- US$500 million – Value of senior notes issued by Banco Votorantim due 2028.
- 5.875% – The interest rate for the senior notes issued by Banco Votorantim.
- US$5 billion – Total value of Banco Votorantim's Global Medium Term Note Programme.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Banco Votorantim S.A. | Issuer | Company | A Brazilian financial institution issuing senior notes via Luxembourg. |
| Clifford Chance LLP | Legal Advisor | Company | Global law firm advising Banco Votorantim on the issuance. |
| BofA Securities | Initial Purchaser | Company | One of the financial institutions involved in purchasing the initial issuance. |
| Bradesco BBI | Initial Purchaser | Company | Another key financial institution involved in the transaction. |
| Citigroup | Initial Purchaser | Company | Major financial services corporation & initial purchaser in the issuance. |
| Ita BBA | Initial Purchaser | Company | Investment banking arm of Itau Unibanco participating in the deal. |
| J.P. Morgan | Initial Purchaser | Company | Another global financial services firm purchasing the issuance. |
| Morgan Stanley | Initial Purchaser | Company | Global financial services firm involved as an initial purchaser. |
| UBS Investment Bank | Initial Purchaser | Company | Division of UBS Group AG involved in purchasing the issuance. |