Davis Polk advised C1 Financial, Inc. (“C1”) and the selling stockholders in connection with the $21.7 million SEC-registered secondary offering of 1,256,255 shares of common stock of C1 by the selling stockholders. C1’s common stock is traded on the New York Stock Exchange under the symbol “BNK.” More >>

Davis Polk advised Elementia, S.A.B de C.V. in connection with its initial public offering of 231,150,000 ordinary shares, including 30,150,000 ordinary shares from the full exercise of the initial purchasers’ overallotment options, for an aggregate amount of Ps$3.93 billion, consisting of an offering of 186,520,000 ordinary shares to the general public in Mexico and an international offering of 44,630,000 ordinary shares outside Mexico under Rule 144A and Regulation S. The ordinary shares trade on the Mexican Stock Exchange. More >>

The São Paulo office of the Firm recently represented the underwriters, led by Itau BBA USA Securities, Inc., Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Santander Investment Securities Inc., in connection with the global offering of preferred shares of Telefonica Brasil, including preferred shares in the form of ADSs More >>

Davis Polk advised the underwriters in connection with the SEC-registered offering of 27,864,525 shares of common stock of Springleaf Holdings, Inc., of which 19,417,476 shares were issued and sold by the Company and 8,447,049 shares were sold by Springleaf Financial Holdings, LLC on behalf of an affiliate of American International Group. The aggregate gross proceeds of the offering were approximately $1.435 billion. The underwriters have a 30-day option to purchase up to an additional 4,179,678 shares of Springleaf Holdings, Inc.’s common stock from Springleaf Financial Holdings, LLC. The common stock is listed on the New York Stock Exchange under the symbol “LEAF.” More >>

The São Paulo office of the Firm recently represented the underwriters, led by Itau BBA USA Securities, Inc., Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Santander Investment Securities Inc., in connection with the global offering of preferred shares of Telefonica Brasil, including preferred shares in the form of ADSs. The ADSs are listed on the New York Stock Exchange, and the preferred shares are listed in Brazil on the BM&FBOVESPA stock exchange. The global offering raised net proceeds of approximately US$5.5 billion, which Telefonica Brasil intends to use to the fund the cash portion of the previously announced €7.2 billion acquisition of Brazilian telecommunication company GVT, repay certain GVT indebtedness following completion of the acquisition and improve its own liquidity. More >>

In a milestone transaction to fund a new undersea fiber optic cable between the US and Brazil, Milbank, Tweed, Hadley & McCloy LLP has advised Seaborn Networks in its financing to build the first direct submarine cable connection between New York and São Paulo. More >>

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 new 144A/Reg S US$1.1 billion securitization of oil royalties, the second international offering the firm handled for the fund in 2014. More >>