October 19, 2022

Tauil & Chequer Advogados advised PetroReconcavo on US$ 126 million financing

Tauil & Chequer Advogados in association with Mayer Brown, and a New York team from Mayer Brown, advised Itaú BBA on the contracting of a syndicated financing by PetroReconcavo, an independent oil and gas exploration and production operator. The operation, led by Itaú BBA, also included Banco Santander (Brasil) S.A. and Banco Safra S.A. With a value of US$ 126 million and a maturity of five years, the transaction is jointly guaranteed by Potiguar E&P S.A., SPE Miranga S.A., and Reconcavo E&P S.A. The proceeds of the financing will be used primarily for the prepayment of the current debt originally contracted for the acquisition of the Riacho da Forquilha Cluster.

The team in Brazil was led by partners from the Capital Markets & Securitization and Banking & Finance practices, Rodolfo Tella, Eduardo Lima and Priscilla Santos, and included associates Stephanie do Carmo and Theodoro Scott. In the United States, the team was led by Banking & Finance partner David Duffee.

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