Cescon Barrieu advises Sapore on notes issuance
Cescon Barrieu served as deal counsel to Sapore, together with UBS BB Corretora de Câmbio, Títulos e Valores Mobiliários, Banco Bradesco BBI and Itaú BBA Assessoria Financeira, in connection with Sapore’s first issuance of secured book-entry commercial notes, in a single series, offered to the public pursuant to CVM 160. The offering totaled BRL149,999,000.00.
The notes were secured by a fiduciary assignment covering the cash flows arising from the issuer’s present and future receivables, to be deposited into an escrow account in Sapore’s name, as well as all rights and amounts related to that account.
The offering marked the issuer’s first issuance of commercial notes and its second public offering in the capital markets. Net proceeds from the offering will be directed toward general corporate purposes, including working capital, cash management and liquidity reinforcement, aimed at supporting the continuity and predictability of Sapore’s operations.
Cescon Barrieu advised the issuer and the lead underwriter on all legal aspects of the transaction and relied on partner Dimitrios Constantelos, associate Isadora Bartolozzi Moreira.
In-house counsel involved in the transaction included Marcelo Polachini for Sapore, Ricardo Siciliano and Emanoel Furtado for UBS BB, Rafael Wong for Itaú BBA, and Renata Machida, Michel Camargo Navarro Miranda and Lívia Carmona Porta for Bradesco BBI.
