TozziniFreire advised Brazilian fashion retailer on $63 million offering

TozziniFreire Advogados advised Lojas Renner on its eighth issuance, for a value of 200 million reais ($63 million).

Lojas Renner is the largest fashion retailer in Brazil. It has been publicly traded since 1967 and, since 1972, is traded on the BM&FBovespa. The company employs almost 18 000 staff and is present in all Brazilian states.

The transaction, conducted in a single tranche, consisted of simple and nonconvertible unsecured debentures for public offering with restricted placement efforts, pursuant to Instruction No. 476 of the Brazilian Securities and Exchange Commission.

Banco Votorantim acted as the leading underwriter of the transaction.

Partner Fabíola Augusta Cavalcanti led the TozziniFreire team advising the issuer.

Banco Votorantim instructed Machado Meyer. 

Ignacio Abella