Demarest and Lobo de Rizzo advise on BOAB debenture issue
Demarest advised Bloco de Onze Aeroportos do Brasil – BOAB, the Brazilian subsidiary of Aena, on its first issuance of simple debentures, non-convertible into shares, secured by real collateral, in the total amount of BRL 5,3 billion.
The debentures were subject to public distribution under the automatic registration procedure, pursuant to CVM 160.
Banco Santander (Brasil) and Banco Nacional de Desenvolvimento Econômico e Social – BNDES acted as underwriters.
The issuance qualified the debentures as infrastructure debentures for priority projects before the Ministry of Ports and Airports, subject to certain tax benefits for investors.
The net proceeds raised by BOAB will be allocated to reimburse expenses, costs, and debts incurred within the 36 months prior to the closing date of the offering, as well as to new investments, all related to the expansion, maintenance, and operation of airport infrastructure within the Airport Complexes comprising the Bloco SP/MS/PA/MG, including Congonhas Airport in São Paulo.
Demarest relied on partners Marina Aidar (pictured left), Bruno Aurélio (pictured center), associates Karina Melo, Bruno Alderighi Cavalcanti.
Lobo de Rizzo Advogados advised the underwriters and relied on partner Gustavo Cunha (pictured right), associates Beatriz Rocha, Isabella Dorigheto Miranda, Vitor Hugo do Rego Barros Mayerhofer, Graziela Trevisan and trainee Fernanda Regra Plaugas.
