Multiple firms act on the financing by Truist Bank to Evertec Group
Multiple firms act on the financing made available by Truist Bank to Evertec Group, for purposes of, among others, financing the acquisition of the Sinqia Group, a market leader in software development and tech services to financial institutions.
The financing provided by Truist was essential for implementation of acquisition by Evertec. The underlying M&A transaction allows both companies to expand their catalogue of clients, as Sinqia’s products gain acess to Evertec’s clients in Latin America while Evertec’s solutions may be offered to Sinqia’s Brazilian clients.
This also marked the first deal financed by Truist Bank in Brazil. On the implementation front, we faced an intricate security package, including pledges over accounts, equity and intellectual property, which demanded coordination with other players, such as Itaú (re. pledge of booked shares) and Citibank (re. pledge over escrow accounts).
The transaction value was US$ 1.259.437.500,00
Mattos Filho acted as Brazilian counsel for Evertec/Sinqia and relied on partners Luciana Pietro Lorenzo, Raphael Saraiva, associates Carolina Laboissiere Muzzi, Rodrigo Miguel Braga, Filipe Duarte de Medeiros Armstrong.
Latham & Watkins LLP acted as counsel for Evertec/Sinqia.
Cescon Barrieu advised Truist Bank and relied on partner Rafael Baptista Baleroni, associate Alexandra Telles Costa and intern João Guilherme Lacerda.
Cahill Gordon & Reindel LLP acted as New York counsel for Truist Bank.
