TozziniFreire and Lefosse act on transaction between Bradesco and Sunco

TozziniFreire acted as special counsel of Banco Bradesco and Banco Bradesco BBI in connection with the issuance of standby letters of credit by Banco Bradesco to secure certain loan agreements that Sunco Energy Brasil Mauriti 2 Participações Societárias (Sunco 2) and Sunco Energy Brasil Mauriti 5 Participações Societárias (Sunco 5), entered into with Banco do Nordeste do Brasil (BNB) in the aggregate amount of R$200 million.

Sunco 2 and Sunco 5 are SPVs controlled by Intrepid Participações, which is 100% owned by PowerChina International Group, an integrated construction group that provides investment and financing, planning design, engineering construction, equipment manufacturing, and operation management for clean and low-carbon energy, water resources, environmental construction and infrastructure. PowerChina is one of the world’s largest power construction enterprises with the most integrated industrial chains and has business in more than 130 countries and regions around the world.

These SPVs are part of a larger photovoltaic solar generating plants located in Mauriti, a city in the State of Ceará.

The standby letters of credit issued by Banco Bradesco are secured by the following collateral: a fiduciary assignment of certain receivables of the SPVs; a fiduciary assignment of certain amounts deposited in escrow accounts; a fiduciary assignment of equipment; and a fiduciary assignment of quotas issued by the SPVs.

TozziniFreire Advogados advised Banco Bradesco and Banco Bradesco BBI and relied on partners Felipe Paiva (pictured left), Leonardo Miranda, Alexei Bonamin, associates Vanessa Aragão, Bruno Verciani.

Lefosse advised Intrepid Participações, Sunco Energy Brasil Mauriti 2 Participações Societárias and Sunco Energy Brasil Mauriti 5 Participações Societárias and relied on partner Miriam Signor (pictured right) and senior associate João Villa.

In-house counsel to Banco Bradesco and Banco Bradesco BBI: Livia Carmona.

In-house counsel to Powerchina: Marlon Ieri.