Machado, Meyer, Sendacz e Opice Advogados has helped Fonte Nova Participações, the company overseeing the construction of Brazil’s Arena Fonte Nova football stadium, issue debentures worth 94 million reais (US$53.3 million).
Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados advised the underwriter - Banco Santander – in the transaction that closed at the start of March.
Partner Pablo Sorj says the transaction is
“one of very few non-recourse financings of a PPP project in Brazil” and
involved reviewing the PPP structure, as well as the existing financing and
collateral package.
The other lenders are Banco do Nordeste do Brasil and state development agency
Desenbahia. Both lenders and debenture holders will share the collateral package
and do not receive a completion guarantee from the sponsors.
Fonte Nova is a joint venture company between Odebrecht and OAS that won the
PPP contract to build and operate the Fonte Nova Arena for the 2014 World Cup.
Counsel to Fonte Nova Participações
Machado, Meyer,
Sendacz e Opice Advogados
Partners Mauro Penteado and Alberto Faro, and
associate Antonio Paulo Kubli Vieira
Counsel to Banco Santander
In house counsel - Isabela da Fonseca Fernandes and Amanda Maria Alves da Silva
Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados
Partner Pablo Sorj and associates Marcelo Carvalho Cardoso and Bernardo Môcho
(Latin Lawyer 12.03.2012)
(Notícia na Íntegra)