Dias Carneiro advises SPIC Brasil on BRL380m deal
Dias Carneiro Advogados advised SPIC Brasil Energia e Participações and the special purpose entities of the Panati cluster—Panati 1, Panati 2, Panati 3, Panati 4, Panati 5 and Panati 6 Energias Renováveis—on the renewal of bank guarantees issued by Banco do Brasil and Itaú Unibanco, in an aggregate amount of approximately BRL380 million.
The guarantees secure obligations contracted by the Panati cluster’s special purpose entities, which are controlled by SPIC Brasil Energia e Participações, with Banco do Nordeste do Brasil. The transaction involved the renewal of bank guarantees provided by Banco do Brasil and Itaú Unibanco in favor of the financial obligations of the Panati cluster companies, supporting the continuity of operations of the renewable energy special purpose entities.
Dias Carneiro Advogados acted as deal counsel through partner Victor Henrique Baptistin together with associates Carla Araújo Ribeiro and Michele Cazemiro Cristofoli.
