Mattos Filho acts in the largest ever toll-road project finance in Brazil
Mattos Filho Advogados advised Eixo SP Concessionária de Rodovias S.A. and its shareholders Pátria and GIC
Mattos Filho Advogados advised Pátria Infraestrutura IV Fundo de Investimento em Participações Multiestratégia (Pátria) and NY Fundo de Investimento em Participações Multiestratégia (GIC) in what is considered the largest ever toll-road project finance in Brazil.
The multi-source financing includes R$ 3 billions (BNDES Financing Agreement) from BNDES and R$ 350,000,000.00 infrastructure debentures fully subscribed by BNDES.
BNDES has invested in the debentures in a new approach to finance infrastructure projects and foster the debt capital markets. Banco Itau BBA SA was the lead coordinator of the Issuance offer.
The BNDES Financing Agreement and the Issuance share the security package, which includes Eixo SP Concessionária de Rodovias S.A’s shares and by fiduciary assignment of receivables arising from the Concession Agreement. In addition to this collateral package, Itaú Unibanco S.A., Banco ABC Brasil S.A. and Banco Santander (Brasil) S.A. have issued letter of credits to guarantee BNDES Financing Agreement and the Issuance.
The funds will be used for the implementation of the largest road project ever granted to the private sector in Brazil, which consists of 1,224 km of roads to be built, restored and/or improved in 62 cities in the State of São Paulo. The Project will require up to R$12 billion in investments during the 30-year concession.
Several areas of Mattos Filho, Veiga Filho, Marrey Jr, e Quiroga Advogados represented Eixo SP Concessionária de Rodovias S.A. with partners Pablo Sorj (pictured left), Flavio Barbosa Lugão (pictured centre), Rodrigo Figueiredo Nascimento (pictured right) and associates Aimi Dumans Royse, Laura Maria Nocito Capellão, Rebeca Lorraine Buda Salles, Henrique Kasai, Laura Angrisani, Raphael Yukio, João Marcelino Cavalcanti Júnior, Lorena Milanez Martini.
Stocche Forbes Advogados e Allen & Gledhill LLP also participated at this deal.
