Biosev’s R$7 Billion Financial Debt Restructuring

Pinheiro Guimarães and White&Case advised Banco BNP Paribas Brasil S.A., Banco Bradesco S.A., Banco BTG Pactual S.A., Banco do Brasil S.A., Banco Santander (Brasil) S.A., Banco Votorantim S.A., Itaú Unibanco S.A., ING Bank N.V. and Cooperatieve Rabobank U.A. FLH Advogados represented Biosev and Hedera. Tauil & Chequer Advogados and Mayer Brown advised a syndicate of seven banks: Ing Bank N.V., Crédit Agricole Corporate and Investment Bank, Société Générale, Banco Bnp Paribas Brasil S.A., Natixis, Abn Amro Bank N.V., Coöperative Rabobank U.A. Norton Rose Fulbright, Loyens & Loeff N.V. and Pestalozzi Attorneys at Law Ltd. also acted in this deal.

Biosev S.A. and Biosev Bioenergia S.A. concluded a R$7 billion financial debt restructuring. The debt was partially settled with funds from the merger and acquisition transaction between Biosev S.A. and Raízen S.A., while the remaining R$3 billion was assumed by Hédera Investimentos e Participações S.A. (LDC Group).

The transaction was carried out over more than 12 months, involving more than 15 domestic and international financial institutions, multi-jurisdictional parties (including multiple agents and escrow agents) and a variety of restructured debt instruments. The debt restructuring was negotiated and implemented simultaneously with Raízen’s acquisition of Biosev, all conducted during the registration of Raízen’s IPO.

Pinheiro Guimarães’ team was led by partner Sergio Ramos Yoshino (Picture) and included partner Camila Ohno and associates Lucas Manzoli de Almeida, Conrado Davoli, Ana Beatriz do Amaral Gurgel Prado Santos and Julia Machado Barreto.

White & Case LLP’s team was led by partner John Anderson and involved Alfredo Hwang and Dale Sheedy.

FLH Advogados represented Biosev and Hedera with team formed by partner Gabriel Buscarini Leutewiler and lawyers Murilo Balarin Prado and Maria Victtoria Oliveira.

The team of Tauil & Chequer Advogados in association with Mayer Brown was led by partners Eduardo Lima, Guilherme Tranquilini, counsel Priscilla Santos, and associate Theodoro Scott. From Mayer Brown, partners Doug Doetsch, Ashley McDermott and Devi Shah, associates Erica Arcudi, Clare Betteridge, David Fraher and Chris Street.  

Involved fees earner: Murilo Balarin Prado – Franco Leutewiler Henriques; Gabriel Buscarini Leutewiler – Franco Leutewiler Henriques; Maria Victtoria Oliveira – Franco Leutewiler Henriques; Erica Arcudi – Mayer Brown; Clare Betteridge – Mayer Brown; Douglas Doetsch – Mayer Brown; David Fraher – Mayer Brown; Eduardo Lima – Mayer Brown; Ashley McDermott – Mayer Brown; Priscilla Santos – Mayer Brown; Theodoro Scott – Mayer Brown; Devi Shah – Mayer Brown; Christopher Street – Mayer Brown; Guilherme Tranquillini – Mayer Brown; Conrado de Almeida Sampaio Davoli – Pinheiro Guimarães; Ana Beatriz Gurgel – Pinheiro Guimarães; Julia Machado Barreto – Pinheiro Guimarães; Lucas Manzoli de Almeida – Pinheiro Guimarães; Camila Ohno – Pinheiro Guimarães; Sergio Ramos Yoshino – Pinheiro Guimarães; John Anderson – White & Case; Alfredo Hwang – White & Case;

Law Firms: Franco Leutewiler Henriques; Mayer Brown; Pinheiro Guimarães; White & Case;

Clients: ABN AMRO Bank N.V; Banco BNP Paribas Brasil S.A.; Banco Bradesco SA; Banco BTG Pactual S.A.; Banco do Brasil; Banco Santander Brazil; Banco Votorantim; Biosev SA; Coöperatieve Rabobank; Crédit Agricole Corporate and Investment Bank; Hédera Investimentos e Participações; ING Bank; Itaù Unibanco; Natixis; Société Générale;