"PRIO Luxembourg Holding Secures $700 Million in Senior Unsecured Notes to Fund Tender Offer and Corporate Initiatives"

"The Firm represented several financial institutions in a $700 million offering of 6.750% Senior Unsecured Notes due 2030 by PRIO Luxembourg Holding S.à r.l., a subsidiary of PRIO S.A. The proceeds will be used to repurchase existing notes and for general corporate purposes, including funding the Equinor Peregrino Field Acquisition. PRIO is a leading oil and gas company in Brazil, focusing on production and development of assets in the Campos Basin."

The law firm Simpson Thacher represented Itau BBA USA Securities, Inc., Banco BTG Pactual S.A. — Cayman Branch, Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, Santander US Capital Markets LLC, Scotia Capital (USA) Inc., and SMBC Nikko Securities America, Inc. in a significant financial transaction. The transaction involved the offering of US$700 million in aggregate principal amount of 6.750% Senior Unsecured Notes due 2030 by PRIO Luxembourg Holding S.à r.l., a wholly owned subsidiary of PRIO S.A. (“PRIO”), under Rule 144A and Regulation S. Additionally, the firm represented the same institutions as dealer managers in a concurrent tender offer for PRIO’s outstanding 6.125% senior secured notes due 2026. The proceeds from the notes offering were utilized to fund the repurchase of notes in the tender offer, with any remaining net proceeds allocated for general corporate purposes, including part of the purchase price for the Equinor Peregrino Field Acquisition. The Simpson Thacher team involved in this transaction included Grenfel S. Calheiros, Paulo F. Cardoso, Sid Fresa, and Doug Ogata from the Capital Markets practice, as well as Jonathan Cantor from the Tax practice.

"PRIO Luxembourg Holding Secures $700 Million in Senior Unsecured Notes to Fund Tender Offer and Corporate Initiatives"

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