Machado Meyer on BRL 5.5bn CloudWalk Bela FIDC offering

Machado Meyer advised on the structuring of the public offering, under a firm commitment underwriting regime and pursuant to CVM 160, of senior quotas of the 2nd series and mezzanine subordinated quotas of the 2nd series issued by Class A – Limited Liability Quotas of the CloudWalk Bela Receivables Investment Fund – Payment Segment (FIDC).

The fund was structured by Cloudwalk Instituição de Pagamento e Serviços, and the offering was coordinated by Banco Bradesco BBI, Itaú BBA Assessoria Financeira, BTG Pactual Investment Banking, Banco Safra, Banco Votorantim, Banco Santander (Brasil), and UBS BB Corretora de Câmbio, Títulos e Valores Mobiliários.

The FIDC’s investment policy consists of allocating resources to receivables originated by CloudWalk, arising from credit card sales processed with cards issued by major financial institutions in Brazil. The offering totaled BRL 5.5 billion.

Machado Meyer advised CloudWalk, Itaú BBA Assessoria Financeira, Banco Bradesco BBI, Banco Safra, Banco Votorantim, Banco Santander (Brasil), and UBS BB Corretora de Câmbio, Títulos e Valores Mobiliários. The team was led by partner Thales Tormin Saito, with the participation of associate Guilherme Latessa Jeong.