Hogan Lovells represented Brazilian issuers on two equity offerings in September

The firm advised issuer Iguatemi S.A., one of the leading full-service shopping mall owners and operators in Brazil, in connection with its follow-on offering of 36,746,000 units comprised of 36,746,000 common shares and 72,952,000 preferred shares, for an issuance valued at R$720 million (approx. US$140 million), which settled on September 23. This was the issuer’s first transaction in the international capital markets since its last equity offering in 2012. The international placement agents on the successful follow-on offering were BTG Pactual US Capital, LLC, Bradesco Securities Inc., Itau BBA USA Securities, Inc., Santander Investment Securities Inc. and Credit Suisse Securities (USA), LLC.

The firm also represented IRB-Brasil Resseguros, a Brazilian reinsurance company and one of the largest in Latin America, in connection with its offering of 1,200,000,000 common shares, for an issuance valued at R$1.2 billion (approx. US$230 million), which settled on September 6. Hogan Lovells also acted as international counsel in connection with the issuer’s prior three equity transactions, including its initial public offering. The international placement agents on the successful follow-on offering were Bradesco Securities Inc., Itau BBA USA Securities, Inc. and Santander Investment Securities Inc.

A cross-border team based in São Paulo and New York acted as international counsel on both transactions, including São Paulo office managing partner Isabel Costa Carvalho, partner Sina Hekmat (New York), counsel David Contreiras Tyler (São Paulo), associates Felipe Lacerda (São Paulo), Ana Laura Pongeluppi (São Paulo), Mariana Vasques Soares de Matos (São Paulo), Cíntia Rosa (São Paulo), Julio Cesar de Oliveira Alves (São Paulo), Lizandra Baptista (São Paulo) and visiting international lawyer Jéssica Tabata (New York).

Our Hogan Lovells capital markets team regularly advises clients in Latin America on a wide variety of capital markets transactions involving complex and high-value offerings of equity, debt, and hybrid securities. We are able to structure and execute capital markets transactions in order to maximize client goals, including developing innovative transactional structures.