White & Case Advises Centrais Elétricas Brasileiras S.A. – Eletrobrás on Bond Offering

Global law firm White & Case has advised Goldman Sachs & Co. LLC, Itaú BBA USA Securities Inc. and Santander Investment Securities, Inc. in connection with an offering by Centrais Elétricas Brasileiras S.A. – Eletrobrás (Eletrobrás) of 3.625% notes due 2025 (the Five-Year Notes) in an aggregate principal amount of US$500 million and 4.625% notes due 2030 (the Ten-Year Notes) in an aggregate principal amount of US$750 million; and a concurrent tender offer for Eletrobrás' existing 5.750% notes due 2021 (the 2021 Notes). Eletrobrás is the largest generation and transmission company in Brazil and is controlled by the Brazilian government.

The net proceeds from the offering were used for debt refinancing, including the purchase of the 2021 Notes. The tender offer was completed on an accelerated timeline based on the abbreviated tender offer rules. Goldman Sachs & Co. LLC, Itaú BBA USA Securities Inc. and Santander Investment Securities Inc. acted as dealer managers in the abbreviated tender offer.

The White & Case team was led by partners Don Baker and John Guzman and included associate Beatriz Barros (all São Paulo); partner Stuart Matty and associate James Clarke (London); and partners Ray Simon and Jonathan Michels, and associates Anastasiya Lisovskaya and Robin Heszkel (all New York).

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