Milbank, Tweed, Hadley & McCloy’s leading Latin American practice began the new year with a major corporate transaction in Brazil’s energy sector. The firm is advising BTG Pactual Oil & Gás Participações S.A. (“BTG Oil & Gas”), a unit of the preeminent Brazilian investment bank BTG Pactual, in its $852 million joint venture with offshore supply vessel operator Deep Sea Supply Plc (DESS).

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The Firm represented SBA Communications Corporation (SBA) in connection with its acquisition of 800 freestanding wireless towers from one of the leading broadband wireless carriers in Brazil for approximately R$362.8 million. This was the first acquisition by SBA in Brazil and represented the launching of operations in that country.

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Shearman & Sterling represented Deutsche Bank AG, London Branch and Standard Chartered Bank as dealers in connection with Banco Santander Chile’s offering of Chinese Renminbi 500 million 3.75% Senior Fixed Rate Notes due 2014 issued under Banco Santander Chile’s U.S.$5.5 billion Medium-Term Notes Program.

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Shearman & Sterling represented lead managers Banco Santander, S.A., BB Securities Limited, Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, HSBC Bank plc, J.P. Morgan Securities plc, all acting as joint bookrunners, and Mitsubishi UFJ Securities International plc and Standard Charter Bank, acting as co-managers, in connection with a shelf takedown consisting of €1,300,000,000 3.25% Global Notes due 2019, €700,000,000 4.25% Global Notes due 2023 and £450,000,000 5.375% Global Notes due 2029 by Petrobras Global Finance B.V. (PGF). The Global Notes will be unconditionally guaranteed by Petróleo Brasileiro S.A.—PETROBRAS.

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Shearman & Sterling represented Caixa Econômica Federal, the largest fully government-owned bank in Latin America, in connection with the establishment of its US$5,000,000,000 Medium-Term Note Program and its first international issuances, consisting of U.S.$1,000,000,000 2.375% Notes due 2017 and U.S.$500,000,000 3.500% Notes due 2022 listed on the Luxembourg Stock Exchange. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc. acted as Dealers.

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Chadbourne & Parke represented FOVISSSTE (“Fondo de la Vivienda del Instituto de Seguridad y Servicios Sociales de los Trabajadores del Estado”) in the successful placement of its fourteenth mortgage loan portfolio securitization, known as TFOVIS, which amounted to $416 million. The settlement of the Issuance on the Mexican Stock Exchange (BMV for its Spanish Acronym) took place on October 31.

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Global law firm White & Case LLP, through its Milan, London and São Paulo offices, has advised Brazilian company Primav Construções e Comércio, a company of the CR Almeida Group, in its acquisition from Impregilo of a 19% stake in Ecorodovias Infraestructura e Logística S.A., a company focused on highway concessions and associated services in Brazil. The purchase price for this stake is approximately EUR 770 million. The transaction is subject to approval by the Brazilian Authorities.

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Simpson Thacher represented Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC, as initial purchasers, in connection with the equity offering by Promotora y Operadora de Infraestructura, S.A.B. de C.V. (“PINFRA”) and certain selling shareholders.

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Simpson Thacher represented Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Banco BTG Pactual S.A., as initial purchasers, in connection with the initial equity offering by InRetail Peru Corp.

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Davis Polk advised Mexichem, S.A.B. de C.V. in connection with its offering of 260,000,000 single series class II common shares in the amount of $1.25 billion. The shares were sold in an offering exempt from registration pursuant to Rule 144A and Regulation S.

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