Stocche Forbes advises on Acelen’s commercial note issue
Stocche Forbes acted as deal counsel in the second issuance of commercial notes by Acelen Energia Renovável, in the total amount of BRL 500 million through a private placement.
The funds used to subscribe to the commercial notes originated from the blended finance sub-line of the Eco Invest Brazil Program. This was the first market transaction financed with resources from the program.
The transaction is secured by a fiduciary assignment of Certificates of Bank Deposit issued by Acelen; and bank guarantees issued in favor of the note holder.
The proceeds will be used to develop an integrated project for the production of Sustainable Aviation Fuel (SAF) and Renewable Diesel (RD), both derived from Macaúba oil.
The project includes the construction of a biorefinery in the State of Bahia and the cultivation of Macaúba forests on degraded land.
Stocche Forbes relied on partners Bruno Gandolfo (pictured left) and Laercio Munechika (pictured right), associates Vitória Vidal Serrano and Maurício Gomes.
In-house counsel list
Banco HSBC: José Eduardo Flores.
Acelen Energia Renovável: Raphael Pinciara.
