VPBG and Pinheiro Neto in financing of Diamond Offshore
Vella Pugliese Buosi e Guidoni Advogados advised Diamond Offshore Drilling; Pinheiro Neto Advogados advised Wells Fargo Bank, National Association
Vella Pugliese Buosi e Guidoni Advogados advised Diamond Offshore Drilling, Inc. a leading offshore drilling company, in connection with Brazilian legal aspects related to the Exit Facilities in connection with its NY Chapter 11 proceeding.
The transaction is to be secured, among others, by a pledge on credit rights arising from the bank account of its Brazilian subsidiary, Brasdril Sociedade de Perfuracoes Ltda.; a pledge on the shares of Brasdril held by Diamond Offshore (Brazil) LLC and Diamond Offshore Holding LLC, and a pledge on drilling equipment.
The total amount was USD 625 million. Through this financing, Diamond will be able to resume normal operations after a period of receivership.
Vella Pugliese Buosi e Guidoni Advogados advised Brasdril Sociedade de Perfuracoes Ltda. (Diamond Offshore (Brazil)) and included partner Gabriella Maranesi Najjar (pictured left); senior associate Fernando Henrique Lopes da Cruz; associate Ana Beatriz Ferreira Coelho and legal assistant Bruna Garcia Loutfi.
Diamond Offshore Drilling, Inc., was also advised by the law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP (USA) with a team formed by associates Jennifer McWhaw and Christopher W. Dickson.
Wells Fargo Bank, National Association was advised by Pinheiro Neto Advogados with partner José Luiz Homem de Mello (pictured right); associates Sofia Toledo Piza, Mariana Magalhães Lobato.
