wm&t and Dias Carneiro advise on Hidro Forte issuance

wm&t Advogados and Dias Carneiro Advogados advised on the 4th (fourth) issuance of simple debentures, non-convertible into shares, secured by in rem guarantee, of Hidro Forte Administração e Operação, for public distribution pursuant to CVM Resolution 160.

The transaction value was BRL 161,593,000.00 and the infrastructure project related to the issuance has been duly classified as a priority project by the Federal Government under the terms of Law 12.431. Such classification grants income tax exemption to individual and some foreign investors, as well as a reduction of the income tax applicable to companies investing in so-called “incentivized debentures”, with the purpose of financing infrastructure investment projects and promoting the development of the capital markets as a long-term source of funding for the infrastructure sector.

The in rem guarantees securing the issuance shall be shared, on a pari passu basis, with the holders of the debentures of the 1st (first) issuance of Hidro Forte Administração e Operação.

The proceeds from the issuance shall be applied towards the expansion, implementation, and improvement of water supply and sanitary sewage systems in municipalities within the States of Tocantins, Pará, and Maranhão.

wm&t advised Hidro Forte Administração e Operação and relied on partner Beatriz Trovo (pictured left) and associate Leonardo Portelada. The company also relied on in-house counsels Ciro Rangel Azevedo, Denise Okimura and Ygor Florença.

Dias Carneiro advised Banco Daycoval and relied on partners Alexandre Leite (pictured center) and Victor Henrique Baptistin (pictured right), and associate Cecília Bueno Vecchi, Thâmires Veras Silva and Michele Cazemiro Cristofoli.