Pinheiro Neto advises on debentures issue by Inter Holding Financeira

Pinheiro Neto Advogados advised on the 1st debenture issue by Inter Holding Financeira, pursuant to CVM Rulling 476. The transaction was part of the process related to the migration of Banco Inter / Inter&Co shares from B3 to Nasdaq.
The proceeds of the debentures were used to pay shareholders who decided to exercise the redemption option that was granted to all shareholders (i.e. possibility to redeem Banco Inter shares, instead of receiving Inter&Co shares that will be listed on Nasdaq).
According to Inter, Inter has a global expansion plan and is preparing to replicate its current business model in other countries, starting with the United States. With this, Inter is now competing directly with other digital financial institutions and global e-commerce platforms, not only in operations, but also for capital. And the US market, being the largest capital market in the world, has been chosen.
To accelerate its plans, Inter decided to migrate its shares, currently listed on B3, the Brazilian stock exchange, to Nasdaq. To do so, the company created a holding company, Inter&Co, which will be listed on the American stock exchange and brings together all the companies of the group that make up the Super App.
The listing of Inter’s shares on Nasdaq will increase the investment and growth capacity in all of Inter’s business lines, facilitating future expansion opportunities in the international market, such as the acquisition of strategic assets, consolidation, and business combinations.

Pinheiro Neto Advogados acted as business consultant to both the issuer Inter Holding Financeira and the underwriters Banco BTG Pactual (lead underwriter), Banco Bradesco BBI, Banco Itaú BBA and Banco ABC Brasil n
The firm’s partners were Ricardo Simões Russo, Guilherme Sampaio Monteiro, counsel Marcos Saldanha Proença, associate Gustavo Guedes Araújo and legal aid Luísa Reis Lopes Correira and Phelipe Dias Alves.