Banco BTG Pactual’s $595 Million Shares Offering

Skadden, Arps, Slate, Meagher & Flom and Barbosa, Müssnich, Aragão represented Banco BTG Pactual S.A. in the offering, while Simpson Thacher and Tauil & Chequer Advogados (Mayer Brown) represented the placement agent.

Banco BTG Pactual S.A. executed a R$3.0 billion (approximately US$595 million) primary follow-on offering, comprising the sale of 24,402,000 units, each representing one common share and two class A preferred shares. The units were subject to a priority offering in Brazil addressed to existing shareholders, in accordance with Brazilian regulation.

Banco BTG Pactual will use the proceeds from this offering for general corporate purposes, including to accelerate strategic initiatives and growth of its digital platform while keeping strong capital and liquidity metrics.

The Skadden team was led by São Paulo Corporate partner Filipe Areno (Picture), counsel Lauren Bennett, associate Karina Cardozo De Oliveira, local associate Vitor Horta and staff attorney David Birch. The team also included Tax partner Victor Hollender (New York) and associate Joshua Lin (New York); Investment Management partner Michael Hoffman (New York) and associate Cameron Jordan (Chicago); and Executive Compensation and Benefits counsel Jeffrey Lieberman (New York).

BMA – Barbosa, Müssnich, Aragão advised PTG with Camila Goldberg Cavalcanti, Conrado Stievani, Alexandre Roscoe Lindenberg, Juliana Azem Turini and Nathália Costa Leite.

Simpson Thacher represented BTG Pactual US Capital, LLC,  Bradesco Securities, Inc., Itau BBA USA Securities Inc., Santander Investment Securities Inc. and UBS Securities LLC as placement agents, with Grenfel S. Calheiros, Luiz Noronha and Raissa Fini (Capital Markets – São Paulo); and Jonathan E. Cantor and Kris Liu (Tax – New York).

In Brazil, Tauil & Chequer Advogados (Mayer Brown) advised the placement agents with Carlos Motta, Rodolfo Constantino de Tella, Natália Carvalho Minotto and Nicholas Ciglioni.

Involved fees earner: Juliana Azem Turini – Barbosa, Müssnich & Aragào; Camila Goldberg Cavalcanti – Barbosa, Müssnich & Aragào; Alexandre Roscoe Lindenberg – Barbosa, Müssnich & Aragào; Conrado Stievani – Barbosa, Müssnich & Aragào; Rodolfo Constantino de Tella – Mayer Brown; Carlos Motta – Mayer Brown; Grenfel Calheiros – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Raissa Fini – Simpson Thacher & Bartlett; Kris Liu – Simpson Thacher & Bartlett; Luiz Noronha – Simpson Thacher & Bartlett; Filipe Areno – Skadden Arps Slate Meager & Flom; Lauren Bennett – Skadden Arps Slate Meager & Flom; David Birch – Skadden Arps Slate Meager & Flom; Karina Cardozo De Oliveira – Skadden Arps Slate Meager & Flom; Michael Hoffman – Skadden Arps Slate Meager & Flom; Victor Hollender – Skadden Arps Slate Meager & Flom; Vitor Horta – Skadden Arps Slate Meager & Flom; Cameron Jordan – Skadden Arps Slate Meager & Flom; Jeffrey Lieberman – Skadden Arps Slate Meager & Flom; Joshua Lin – Skadden Arps Slate Meager & Flom;

Law Firms: Barbosa, Müssnich & Aragào; Mayer Brown; Simpson Thacher & Bartlett; Skadden Arps Slate Meager & Flom;

Clients: Banco BTG Pactual S.A.; Bradesco Securities; BTG Pactual US Capital, LLC; Itaú BBA USA Securities; Santander Investment Securities Inc.; UBS Securities LLC;