JBS dual listing
Representation of JBS, one of the world's largest food companies, on its redomiciliation and dual listing the U.S. (NYSE) and Brazil (B3). Karen also advises JBS on its ongoing obligations as a reporting company in the U.S., including filings of annual and current reports with the U.S. Securities and Exchange Commission (SEC). This deal was named "Initial Public Offering of the Year" by LatinFinance.

Eletrobras's US$750 million notes issuance
Representation of the joint bookrunners, on the issuance of US$750 million 6.500% notes due 2035 by Centrais Elétricas Brasileiras S.A. – Eletrobras. This transaction is the first to be conducted under Brazil's Law 14,801/24, enacted in early 2024, which introduces incentivized bonds as a financing mechanism for infrastructure projects and offers tax incentives designed to attract foreign investment in Brazil's infrastructure sector. This deal received an "Honorable Mention" from LatinFinance.

Eletrobras's secondary offering of R$2.2 billion stake in CTEEP
Representation of Companhia de Transmissão de Energia Elétrica Paulista (CTEEP), as issuer, on Brazilian electricity company Eletrobras's secondary offering of R$2.2 billion (US$403 million) worth of shares it owns in CTEEP. Upon closing of the transaction, Eletrobras offered 93 million preferred shares of CTEEP at R$23.50 per share. Prior to the sale, Eletrobras owned a 35.700% stake in CTEEP, and through the secondary offering, Eletrobras has cut this stake to 21.600%.

Nubank dual-nation IPO
Representation of the underwriters on Nubank's US$2.6 billion dual initial public offering in New York and São Paulo. At the offer price, Nubank had a market capitalization of approximately US$42 billion, making it the most valuable listed financial institution in Latin America, the largest IPO by a Brazilian company since 2017 and the largest IPO by a Latin American company in 2021. This transaction was recognized as "Deal of the Year" by The Legal 500 Brazil Awards, "Equity Deal of the Year" by IFLR Americas Awards and "Capital Markets Deal of the Year" by Latin Lawyer.

Minerva's US$1 billion notes offering
Representation of Minerva Luxembourg S.A., a Luxembourg arm of the Brazilian meat processing company Minerva S.A., in connection with a notes offering for an aggregate amount of US$1 billion. Minerva issued the debt in two tranches of US$900 million and US$100 million, respectively. Both tranches carry an interest rate of 8.875% and mature in 2033. Minerva is one of Latin America's largest meat processors. It has production facilities in Argentina, Brazil, Colombia, Paraguay and Uruguay, and exports its produce globally. This transaction was named "High Yield Bond Deal of the Year" by Global Banking & Markets Latin America Awards.

Brava Energia's notes issuance
Representation of the initial purchasers on the issuance of US$500 million 9.750% senior secured notes due 2031 by Brava Energia (formerly 3R Petroleum). The notes were issued by 3R Lux, a wholly owned subsidiary of 3R Petroleum Óleo e Gás S.A., one of the largest publicly listed independent oil and gas producers in Latin America in terms of production volume and focused on the redevelopment of mature oil and gas fields. The net proceeds of the notes were applied to permanently and entirely repay a term loan facility that financed part of the acquisition of the assets of the Potiguar cluster from Petrobras. The notes were issued in reliance on Rule 144A and Regulation S of the U.S. Securities Act of 1933, as amended. This deal was named "Corporate Bond Deal of the Year" by Global Banking & Markets Latin America Awards.

Serena Energia secondary offering
Representation of Serena Energia S.A. and Poraquê Fundo de Investimento em Participações Multiestratégia, an investment fund managed by Tarpon Gestora de Recursos Ltda., in a Rule 144A/Regulation S equity secondary offering of 86,154,087 common shares, by Poraquê Fundo de Investimento em Participações Multiestratégia, resulting in gross proceeds to the selling shareholder of approximately R$775.4 million. Serena Energia S.A. has more than 2.5 GW in operational renewable installed capacity across seven Brazilian states, together with an additional 265.5 MW in the State of Texas in the United States.