Several law firms advised on loan by LD Celulose
Several firms advised on an offering of US$650 million 7.950% Green Senior Secured Notes Due 2032 by LD Celulose International (LDCI), a wholly-owned subsidiary of LD Celulose (LDC), guaranteed by LDC and LD Florestal (LDF). LDC intends to use the net proceeds of the offering to retire existing project finance indebtedness.
The law firms were also involved in a parallel export prepayment secured term loan facility agreement having an initial commitment of US$1 billion (which was automatically reduced to US$350 million upon receipt by LDCI of proceeds from the 7.950% green senior secured notes due 2032).
LDC’s, LDF’s and LDCI’s obligations under the Notes and the Facility share certain Brazilian and Austrian collateral pursuant to the terms of an intercreditor agreement.
LDC is a prominent player in the global cellulose industry, operating in Brazil a dissolving wood pulp plant and sourcing wood from its own plantations. LDC’s shareholders are Lenzing, a leading global producer of lyocell, modal and viscose fibers, and Dexco, a publicly-listed Brazilian company with its main business being the production of wood products, ceramic tiles, sanitary vitreous chinaware and metal fittings.
Machado Meyer advised LD Florestal and relied on Paulo Markossian Nunes (pictured left), Rafael Arsie Contin; lawyers Ana Clara Gemeinder De Mendonça, Helena Daher Rodrigues Moreira, Julia Gama Ribeiro Leite Saad, Vitor Pisarro Bradley De Araujo.
Pinheiro Guimarães Advogados advised Banco do Brasil, acting through its London branch; Citigroup Global Markets, Banco Bilbao Vizcaya Argentaria, Banco Santander (Brasil), Grand Cayman Branch, BNP Paribas, Coöperatieve Rabobank, Sumitomo Mitsui Banking Corporation, Banco Latinoamericano de Comercio Exterior and relied on partner Ivie Moura Alves (pictured center), associates Luiza Furtado, Caio Gioielli, Paulo Accorsi Amaral e Janilson Vaz.
Simpson Thacher & Bartlett LLP advised Itau BBA, UBS Investment Bank, Citigroup, BBVA, BNP Paribas, Rabo Securities, Santander, SMBC Nikko and relied on Paulo Cardoso (pictured right), Grenfel Calheiros, Gabriel Silva, Winnie Loureiro, Isabel de Carvalho, Susan Uquillas and Isadora Almeida (Capital Markets and Credit) and Jonathan Cantor (Tax).
Linklaters and Cerha Hempel Rechtsanwälte GmbH also advised the issuer.
