Clifford Chance advises Eletrobras on US$1.2B notes offering

Clifford Chance has advised Eletrobras in a US$1.2 billion notes offering and concurrent tender offer.

The notes offering comprised 3.625% notes due 2025 in an aggregate principal amount of US$500 million and 4.625% notes due 2030 in an aggregate principal amount of US$750 million. The proceeds were used to finance a concurrent abbreviated tender offer for Eletrobras’ existing 5.750% notes due 2021. Deal managers were Goldman Sachs, Itaú BBA USA Securities and Santander Investment Securities.

Based in Rio de Janeiro, Eletrobras is the largest electric power generation and transmission company in Latin America and is controlled by the Brazilian government.

The Firm's Capital Markets team included partner Jon Zonis and associate Lane Feler (New York); partner Anthony Oldfield and associates Shane Meckler and Mariana Urban (São Paulo); and partner Paul Deakins (London). Partner Avrohom Gelber and associate Sean Smestad advised on tax matters.c