MILBANK REPRESENTS UNDERWRITERS IN $500 MILLION FIRST TIME BASEL III TIER 2 BOND OFFERING BY BRAZIL’S CAIXA ECONÔMICA FEDERAL
Milbank, Tweed, Hadley & McCloy LLP represented the underwriters BB Securities Ltd., Banco Bradesco BBI S.A., Banco BTG Pactual S.A. – Cayman Branch, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated in the $500 million offering of 7.250% notes due July 2024 by Caixa Econômica Federal.
It was the first time that a Basel III tier two bond ever sold publicly in Brazil, and it is only the third of its kind in Latin America. Caixa Econômica Federal is Brazil’s largest fully government-owned mortgage and savings bank.
The Milbank team included Global Securities partners André Jánszky and Tobias Stirnberg and associates Felipe Camara and Gabriela Britto; Tax partner Andrew Walker and associate Erika Hauser.