Clifford Chance

Clifford Chance advises on US$1.6 billion bond offering by Banco Bradesco S.A.

Leading global law firm Clifford Chance represented Banco Bradesco S.A. acting through its Grand Cayman branch, as Issuer in connection with the offering of US$800 million 2.850% Notes due 2023 and US$800 million 3.200% Notes due 2025 under its US$10 billion Global Medium-Term Note Program. The bookrunners on the offering were Banco Bradesco BBI S.A, BofA Securities, Inc, BNP Paribas Securities Corp, Citigroup Global Markets Inc, Banco BTG Pactual S.A. and Santander Investment Securities Inc. The transaction priced on January 22 and closed on January 27, 2020.

Corporate Finance partner Anand Saha, who led on the matter commented, "We are proud to have advised our long-time client on this landmark transaction, which was conducted on an extremely fast timetable requiring great teamwork and collaboration among the entire working group. The deal included the lowest ever yield for 5 year bond issued by a privately-owned Brazilian Bank."

Banco Bradesco is one of the biggest banking and financial services companies in Brazil.

Working with Anand on this matter were trainee Sophie Scholl and staff attorney Mariana Urban, both based in São Paulo.

Clifford Chance has been recognized for decades as a preeminent law firm in Latin America. The Firm was the first international law firm to open an office in São Paulo and is among the most prominent in Brazil, leading the way in developing successful, novel financing structures for a diverse client-base, and is constantly innovating its service offering, such as with a dedicated Latin America group specialized in capital markets, bank and project financing structures representing initial purchasers, underwriters, issuers and investors. The Firm's lawyers have extensive experience in the region's distinct business, legal and regulatory landscapes. They provide expertise that cuts across a full range of relevant practices, while aligning pioneering solutions with the unique characteristics of the Latin American market and the changing needs of clients.