Machado Meyer and Lobo de Rizzo advise on CRO issuance
Machado Meyer and Lobo de Rizzo advised on the 2nd issuance of simple non-convertible, secured debentures, in nine series, for public distribution, under the automatic procedure, pursuant to CVM 160, by Concessionária Rota do Oeste (CRO).
The offering represents the first Brazilian financing for the infrastructure sector with conditional series intended for additional investments subject to future rebalancing and the second biggest debentures issuance intended to highways and projects in the transport sector.
Also, the Offering represents first project finance for the transport sector for a concessionaire controlled by a public entity and the largest financing operation for transport without bank guarantee in the pre-completion period.
Evermore, the Offering represents the first debenture issuance with phased payment conditioned to the physical performance of the mandatory works in the concession agreement and related to the duplication of the BR-163/MT Highway, improving the road infrastructure in the State of Mato Grosso and promoting safer and more efficient traffic.
The transaction value was BRL 4,875,000,000.00.
Machado Meyer advised Concessionária Rota do Oeste and relied on partner Raphael Zono (pictured left) and lawyers Mario Gomes Carrera Neto e André Mouaccad Filho.
Lobo de Rizzo advised the underwriters Banco BNP Paribas Brasil and Banco Nacional de Desenvolvimento Econômico e Social – BNDES and relied on partners Gustavo Cunha (pictured center), André Ramos Bedim (pictured left); associates Beatriz Rocha, Isabella Dorigheto Miranda and Marina Maia de Souza.
