Machado Meyer and Stocche Forbes on the Sterlite issuance
Machado Meyer advised Sterlite; Stocche Forbes advised Banco Modal as lead underwriter, on the 1st issuance of debentures of Sterlite Brazil Participações, in accordance with CVM 476, in the total amount of R$400 million.
The objective of transaction was equity financing for the company and its subsidiaries, enabling several projects throughout the country.
The issuance had a cash sweep structure of free dividends and amortizations with a premium, in case of liquidity events, besides a mix of senior and subordinated guarantees. Nine in rem guarantees were granted, involving practically the entire corporate structure of the Company in Brazil, as well as its direct shareholders in India.
Machado Meyer advised Sterlite Brazil Participações and relied on partners Fernanda Cury Messias (pictured left) and Raphael Oliveira Zono (pictured center); lawyer Marianna Torello Palladino.
Sterlite’s in-house counsel: Leandra Leite and Ana Carolina Souza.
Stocche Forbes advised Banco Modal and relied on partner Marco Saliba (pictured right), Henrique Filizzola and associates Luca Nigra, Carlos Távora, Rodrigo Freitas and intern Isabela Pochini.
Banco Modal’s in-house counsel: Hugo Neto and Juliana Bastos.
