Record Breaking CVRD Financing Named Deal of the Year
February 28, 2007, Latin Lawyer

Companhia Vale do Rio Doce's record breaking US$18 billion purchase of Canadian mining company Inco was recently named "Deal of the Year" in the corporate finance category at the Latin Lawyer 2006 Awards.

White & Case's role was advising Credit Suisse, UBS, ABN Amro and Santander as joint bookrunners of a syndicate of underwriters in CVRD's public offering of $3.75 billion of debt securities — the largest ever debt offering by a Latin American company in the global capital markets.

Proceeds were used to repay a portion of the outstanding amounts under a senior acquisition facility CVRD entered into in connection with the acquisition of Inco. Latin Lawyer commented that the "use of the Brazilian capital markets to fund the acquisition proved the market's strength and appeal to investors."

Additionally, two matters on which White & Case served as advisors were named runners-up. The Firm acted for the Mexican Government in connection with its innovative issue of catastrophe bonds, which was singled out in the corporate finance category, while the Firm's role on the restructuring of Satmex was noted in the debt restructuring section.

 

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