10 Dec 2025

Veirano and Stocche Forbes advise on VLI group BRL 2 billion debenture offerings

"Veirano Advogados advised VLI Multimodal and Ultrafértil on the public offerings of debentures totalling BRL 2 billion (BRL 1.5bn and BRL 500m). Stocche Forbes advised the underwriters Itaú BBA, Bradesco BBI, BTG Pactual and Santander. The offerings benefited from tax incentives under Law No. 12,431/2011 and the proceeds will finance port and transport infrastructure modernization."

Veirano Advogados advised the issuers VLI Multimodal and Ultrafértil, and Stocche Forbes advised the underwriters Itaú BBA, Bradesco BBI, BTG Pactual and Santander in connection with public offerings of debentures by members of the VLI group. The transactions comprised the public offering of the 4th issuance of debentures by Ultrafértil in the total amount of BRL 500 million and the 8th issuance of debentures by VLI Multimodal in the total amount of BRL 1.5 billion, for aggregate proceeds of BRL 2 billion. Both offerings received the tax incentives set forth by Law No. 12,431/2011. The proceeds from the offerings will be allocated to finance modernization projects in the companies' ports and transportation infrastructure. Veirano Advogados represented issuers VLI Multimodal and Ultrafértil with a team composed by: partner Julio Antonio Nunes Queiroz, associates Isabella Maciel de Guimaraes and Isabelle Munarin, and interns Celina Fairbanks Leibeis and Isabela Hutzler. Stocche Forbes represented the underwriters Itaú BBA, Bradesco BBI, BTG Pactual and Santander with a team composed by: partner Marco Saliba and associates Vitória Vidal Serrano, Lucas Furlong Nigra, Clara Francisco Pereira, Isabela Marins de Carvalho, Andre Bogossian and Gregory de Lima Barbosa. In-house counsel to VLI Multimodal and Ultrafértil represented VLI Multimodal and Ultrafértil with a team composed by: Tomas Brandão, Daniela Vieira and Rayssa Tassoti. In-house counsel to Itaú BBA represented Itaú BBA with a team composed by: Brian Miguel Moreira de Souza. In-house counsel to Bradesco BBI represented Bradesco BBI with a team composed by: Renata Machida, Victoria Taraborelli, Luiza Oliveria Pereira de Andrade and Flávia Souza de Andrade. In-house counsel to BTG Pactual represented BTG Pactual with a team composed by: Felipe Andreu, Izabel Siqueira, Gabriela Trevisan, Matheus Borghi, Carolina Sequeira and Matheus Calazans. In-house counsel to Santander represented Santander with a team composed by: Caio Ramos Penitente and Marcia da Cruz Santos.
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