Pinheiro Neto advises UPL’s FIDIC
Pinheiro Neto Advogados has acted as advisor in the formation of a receivables investment fund for UPL
Pinheiro Neto Advogados has acted as advisor in the formation of a receivables investment fund (FIDC), through which clients of UPL do Brasil who meet the eligibility criteria set forth in the FIDC by-laws and other requirements established in the transaction documentation may anticipate payment of receivables arising from the sale and purchase of UPL’s products, representing an innovative financing program for UPL’s clients.
UPL do Brasil is a subsidiary of the global Indian company UPL Limited (formerly United Phosphorus Limited) that manufactures and markets agrochemicals, industrial chemicals, chemical intermediates and specialty chemicals, and offers crop protection solutions. Headquartered in Mumbai, Maharashtra, the company is engaged in agro and non-agro activities.
The FIDC issued BRL 600 million in senior, mezzanine and subordinated shares (collectively), which were subscribed by professional investors through the placement efforts of the lead underwriter and the parties involved in structuring the FIDC.
The funds capitalized in the FIDC will be used to acquire receivables originated by UPL and clients who adhere to the company’s financing program.
Pinheiro Neto Advogados had partners Enrico Bentivegna (pictured left), Tiago Themudo Lessa (pictured center), Rafael Gaspar (pictured right), associates Winnie Tya Tchi Li, Brenno Allaim de Sousa, and trainees Gabriel Freitas A. Santos and Pedro Gabriel Naghettini Gomes.
