Pinheiro Neto acts on the issue of the Federative Republic of Brazil

Pinheiro Neto Advogados was brazilian counsel to the underwriters on the Federative Republic of Brazil issued its first sustainable bonds in the international markets. The total amount of the issuance is USD 2,000,000,000 and the maturity date of the bonds is March 18, 2031.

The coupon rate of the bonds is 6,25% per annum. Brazil intends to allocate from budgetary resources an amount at least equal to the net proceeds from the sale of the Global Bonds to fund budgetary programs that qualify as eligible expenditures under its sovereign sustainable bond framework approved on September 5, 2023.

Brazil intends to allocate an amount representing a range between 50% to 60% of the virtual allocation of the net proceeds of the issuance to eligible green project categories under the Framework and a range between 40% to 50% of the virtual allocation of the net proceeds of the issuance to eligible social project categories under the Framework.

Pinheiro Neto Advogados was brazilian counsel to the underwriters and relied on partner José Luiz Homem de Mello (pictured), associate João Pedro Ribeiro Taveira, Leonardo Duarte Moreira and legal assistant João Pedro Pinto Palos.

Sullivan & Cromwell LLP was United States counsel for the underwriters.

Arnold & Porter Kaye Scholer LLP was United States counsel for the Federative Republic of Brazil.