Tauil & Chequer Advogados, associated with Mayer Brown, has represented Itaú BBA in arranging a $126 million syndicated financing from PetroReconcavo, an independent oil and gas exploration and production operator.
The funds will be used mainly to prepay the debt incurred for the acquisition of the Riacho da Forquilha Pole.
The financing, with a 5-year maturity, is jointly guaranteed by Potiguar E&P, SPE Miranga and Reconcavo E&P.
Tauil & Chequer acted as joint counsel with Mayer Brown’s New York team. The transaction also involved Banco Santander (Brazil) and Banco Safra under the leadership of Itaú.
Barbosa Müssnich Aragão Advogados (BMA) and Skadden Arps Slate Meagher & Flom acted as advisors to Petroreconcavo in Brazil and the United States, respectively.
Skadden Arps’ team included partners Filipe Areno (São Paulo) and Alejandro Gonzalez Lazzeri, counsel Jose Nicolas Perez-Sierra; and associate Jenny Ferron. All based in New York.
Tauil & Chequer’s Brazil team was led by partners Rodolfo Tella (pictured left), Eduardo Lima (pictured centre) and Priscilla Santos (pictured right), with the participation of associate Stephanie do Carmo and Theodoro Scott. Mayer Brown in the United States was led by partner David Duffee.