Pinheiro Neto assists Tupy in US$ 375 million bond issue for the foreign market
Advised by Pinheiro Neto, the Brazilian multinational in the metallurgy sector has issued bonds in the international market through its subsidiary Tupy Overseas
Tupy, the Brazilian multinational company in the metallurgy sector, announced the issuance in the international market of US$ 375 million bonds maturing in 2031, through its subsidiary Tupy Overseas S.A.
The funds will be used to repay debt issued by the subsidiary Tupy Overseas in 2014, maturing in 2024 (corporate bond), which has a rate of 6.625%.
The company ended the third quarter of last year with record net income of R$ 128 million, a growth of 92.6% compared to the amount recorded in the same period of 2019.
The bonds are intended for the international market and will be offered to qualified institutional investors.
Pinheiro Neto Advogados’ Counsel (Special Counsel for the Issuer) was led by partner Ricardo Simões Russo in partnership with counsel Marcos Saldanha Proença, associate Gustavo Guedes Araújo, and legal assistant Luísa Reis Lopes CorreiaSimpson Thacher & Bartlett LLP; White & Case; and TozziniFreire Advogados also participated in this transaction.
