Legal DealFolio - Rioprevidencia Securitisation of Oil Royalty Payments

DLA Piper represented Rioprevidencia (Rio de Janeiro's state-owned pension fund), as sponsor, as well as the State of Rio de Janeiro in a 144A/Reg S USD2 billion securitization of oil royalties, the first ever cross-border transaction of its kind in Brazil. The international offering was launched together with a local debenture offering limited to Brazilian qualified institutional investors in accordance with CVM Instruction 476. The Rule 144A/Reg S international offering raised USD2 billion, while the Brazilian offering raised RD2.4 billion (approximately USD1 billion). This is the first ever international securitization of Brazilian oil royalties, making it a landmark transaction. The DLA Piper team representing Rioprevidencia and the State of Rio de Janeiro was led by Gianluca Bacchiocchi, a partner in the Corporate and Finance practice in New York and Chicago. Other members of the team were Jeffrey Susskind (Sao Paulo); Christina Houston (Wilmington); Mark Friedman (Baltimore); Gerald Rokoff, Jack Kantrowitz and Witold Jurewicz (New York); and Tonya Gauff (Chicago).

Deal Date:	09-07-2014	Practice Area:	Debt Capital Markets
Deal Title:	Rioprevidencia Securitisation of Oil Royalty Payments	Industry:	Oil & Gas Producers
Description:	DLA Piper represented Rioprevidencia (Rio de Janeiro's state-owned pension fund), as sponsor, as well as the State of Rio de Janeiro in a 144A/Reg S USD2 billion securitization of oil royalties, the first ever cross-border transaction of its kind in Brazil. The international offering was launched together with a local debenture offering limited to Brazilian qualified institutional investors in accordance with CVM Instruction 476. The Rule 144A/Reg S international offering raised USD2 billion, while the Brazilian offering raised RD2.4 billion (approximately USD1 billion). This is the first ever international securitization of Brazilian oil royalties, making it a landmark transaction. The DLA Piper team representing Rioprevidencia and the State of Rio de Janeiro was led by Gianluca Bacchiocchi, a partner in the Corporate and Finance practice in New York and Chicago. Other members of the team were Jeffrey Susskind (Sao Paulo); Christina Houston (Wilmington); Mark Friedman (Baltimore); Gerald Rokoff, Jack Kantrowitz and Witold Jurewicz (New York); and Tonya Gauff (Chicago).
Financial Center:	Chicago	Value:	1000.01-5000.00
Advised Party:	Originator	Law Firm	DLA Piper
Assets Jurisdiction	Brazil	Issuer Jurisdiction	United States
Classification:	Securitisation and Structured Finance Royalty Payments	Lawyer	Gianluca G Bacchiocchi

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Debt Capital Markets Law Firms and Lawyers

Practice Areas - Debt Capital Markets Law Firms and Lawyers