On March 30, 2012, Tauil & Chequer completed the first syndicated export finance transaction following the regulatory changes introduced by the Central Bank of Brazil to limit the inflow of foreign capital into Brazil by way of an increase in the IOF tax rate applicable to foreign credit lines. Alongside the three leading banks the firm developed an alternative structure for exporters to obtain funding in the form of a new type of Export Credit Note syndication secured by foreign receivables, but governed by Brazilian law. The Banking & Finance team comprises partner Eduardo Lima and associates Priscilla Santos, Matheus Oriolo and Anna Gouvea.