Cescon Barrieu and Machado Meyer act on IFC loan to Sabesp
Cescon Barrieu advised Companhia de Saneamento Básico do Estado de São Paulo – SABESP on structured financing in the amount of R$ 760 millions offered by International Finance Corporation – IFC, wich was advised by Machado Meyer.
The loan will be used to fund the capital expenditures related to the Novo Rio Pinheiros program to clean up the Pinheiros river in São Paulo city, to improve sanitation services in São Paulo’s coastal regions and to improve water supply in municipalities in São Paulo’s coastal region and the outskirts of São Paulo city.
The financing to Sabesp is the first Blue Loan project granted by the IFC to a Latin American company, through which the funds raised are certified and monitored exclusively for projects that support a Blue economy – that is, the sustainable use of ocean resources for economic growth, developing livelihoods and related employment, and protecting the health of the ocean ecosystem. In addition, the financing to Sabesp, is also considered a “green loan” since it must to meet the guidelines of the Green Loan Principles. Finally, the transaction involved cross-border negotiations, which added complexity and certain particularities to the case.
Cescon Barrieu Advogados advised Sabesp and relied on partners Alexandre Gossn Barreto (pictured left) and Júlia Barreto Lobo Dutra (pictured center), senior associate Amanda Sobreira Arêas and intern Isadora Bartolozzi Moreira.
Machado Meyer advised IFC and relied on partner Jose Prado (pictured right) and lawyers Carolina Goncalves Dos Santos, Murilo De Morais Rego and Yves Ribeiro Crivelini.
Becker, Glynn, Muffly, Chassin & Hosinski LLP worked in partnership with Machado Meyer.
