UK: Mayer, Brown, Rowe & Maw Finance Team Advise Société Générale As Lead Arranger Of Brazilian Financing
Last Updated: 4 April 2003

The Finance Group at Mayer, Brown, Rowe & Maw advised Société Générale as lead arranger of a partial refinancing of a US $1.4 billion financing for a PCS Telecoms Project in North Eastern Brazil.

The deal follows on from an early representation of ABN AMRO by Mayer, Brown, Rowe, & Maw in connection with an initial financing, which was awarded "Latin American Project Financing of the Year" for 2001 by Project Finance International.

Mayer, Brown, Rowe & Maw were subsequently retained in 2002 by Société Générale (after pitching against a magic circle firm) to advise SG and KfW in connection with a partial refinancing of the original facility. The new facilities were guaranteed by the French export credit agency (COFACE), the German ECA (Hermes) and the Finnish ECA (Finnvera).

Nordic Investment Bank also provided a fourth facility which was also arranged by SG.

The project is a major undertaking by Telemar, the largest Brazilian telco, and the project is supplied by Nokia, Siemens and Alcatel. The completion of the deal is a testament to the parties involved, signing shortly after the Brazilian elections, while many banks were pulling credit lines in Brazil.

This latest deal is another indication of Mayer, Brown, Rowe & Maw's substantial multi-sourced finance experience and follows on from recent appointments (in relation to English law transactions) by US Exim in connection with two multi-source Indonesian restructurings and by ABN AMRO in connection with another project in Uzbekistan supported by US Exim. Each of these mandates was awarded after pitches against Magic Circle firms.

Finance partner Michael Pabst led the Mayer, Brown, Rowe & Maw team for the refinancing and was assisted by Angus MacDonald and Corinne Bentley-Rawlinson.

The borrower was advised by the Washington office of Milbank, Tweed, Hadley & McCloy.

For further information, please contact:

Michael Pabst, Partner, Mayer, Brown, Rowe & Maw LLP: 020 7246 6244
Angela Woodruff, Media Relations Manager: 020 7782 8804

About Mayer, Brown, Rowe & Maw

  • Mayer, Brown, Rowe & Maw is one of the 10 largest legal practices in the world, with 13 offices worldwide, including representations in the world's major financial centres; London, Paris, Frankfurt and New York. Mayer, Brown, Rowe & Maw LLP's London office consists of over 90 partners, 300 lawyers and a total staff of nearly 600. We deliver multi-jurisdictional advice to the world's leading companies, financial institutions and multinational businesses.
  • Mayer, Brown, Rowe & Maw is a combination of Mayer, Brown, Rowe & Maw LLP (an English limited liability partnership) and Mayer, Brown, Rowe & Maw (a US general partnership).

 

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