Globo’s $200 Million Bond Offering

Cleary Gottlieb represented Itau BBA USA Securities, Inc.; Merrill Lynch, Pierce, Fenner & Smith Inc.; and Santander Investment Securities Inc. as initial purchasers in a Rule 144A/Reg. S offering of $200 million senior secured exchangeable notes.

The offering was issued by Pontis IV Ltd., a Cayman Islands exempted company and is mandatorily exchangeable for Globo Comunicação e Participações S.A.’s 5.125 percent senior notes due 2027.

The offering closed on March 31, 2017, and the secured exchangeable notes are expected to be exchanged for Globo’s new senior unsecured notes on May 11, 2017.

Globo is the largest media group in Brazil and controls the leading broadcast television network and the leading pay-TV programmer in Brazil, as well as a diversified group of publishing, Internet content and music label companies. The proceeds will be used to replace Globo’s existing $200 million 5.307 percent/7.25 percent step-up senior notes.