Bruno Gandolfo and Pablo Sorj

Mattos Filho and Stocche Forbes act in R$ 3.9 billion financing

Stocche Forbes Advogados advised Santander, Banco do Brasil, BNPP, Bradesco, BTG and Itaú, in their capacities of LC providers, in connection with the contracting, by UTE GNA II, of bank letters of credit in the total amount of BRL 3.93 billion to guarantee a loan agreement contracted with BNDES to finance the implementation, construction, operation and maintenance of GNA Porto do Açu II Thermoelectric Plant.

Mattos Filho advised UTE GNA II Geração de Energia. The transaction involved heavy negotiation of a cost overrun/delays equity support agreement with BP, Siemens and SPIC. The LCs are also guaranteed by parent company guarantees provided by the ultimate parents of BP and Siemens Energy, first time such sponsors agreed to provide such guarantee in a deal in Brazil.

Stocche Forbes advised the investor and relied on partner Bruno Gandolfo (pictured left), associates Yves Dutra, André Reis, Carlos Tavora, Rafaela Tavares Ramos, Clara Francisco Pereira.

In-house legal counsel – Banco Santander (Brasil): Said Ali; Banco do Brasil: Eduardo do Prado Godoy; Banco BNP Paribas Brasil and Banco BTG Pactual:  Sophia Machado, Itaú Unibanco: Rafael Wong.

Mattos Filho advised UTE GNA II Geração de Energia and relied on partner Pablo Sorj (pictured right), and associates José Guilherme Malheiro, Laura Capellão.

In-house counsel of UTE GNA II Geração de Energia: Fernando Landau, Renata Labronici, Graziela Legatti.