Concessionária Rodovias do Tietê S.A. in R$1.065 Billion Infrastructure Debenture Offering in Brazil

July 5, 2013

Cleary Gottlieb represented Concessionária Rodovias do Tietê S.A. in the 144A/Reg S offering of its IPCA + 8.0% Debentures, in the aggregate amount of R$1.065 billion. The deal closed on July 5, 2013. BTG Pactual, Morgan Stanley, Espirito Santo Investment Bank, Safra and ABC Brasil acted as global coordinators.

This is the first 144A offering of Brazilian infrastructure debentures, debt securities that benefit from certain tax incentives in Brazil and are issued to finance certain infrastructure projects that are considered priority by the Brazilian government. Concessionária Rodovias do Tietê S.A. holds a concession for operation of a road system in the State of São Paulo, Brazil, and the proceeds of the offering will be used for repayment of indebtedness and future investments on this road system.