Globo’s $400 Million Sustainability-Linked Notes Offering and Cash Tender Offer

Cleary Gottlieb represented BofA Securities Inc., Goldman Sachs & Co. LLC, Itau BBA USA Securities Inc., Morgan Stanley & Co., and Santander Investment Securities Inc., as initial purchasers, in a Rule 144A/Reg. S offering of $400 million 5.5% sustainability-linked notes due 2032 issued by Globo Comunicação e Participações S.A. (Globo), concurrently with the launch of an abbreviated cash tender offer for any and all of Globo’s 4.843% senior notes due 2022 and 5.125% senior notes due 2027.

The new money offering priced on January 6, 2022, and closed on January 14, 2022. The proceeds of the new money offering will be used to purchase notes in the tender offer in the aggregate amount of $371.86 million and for general corporate purposes.

The tender offer launched on January 4, 2022, expired on January 12, 2022, and closed on January 18, 2022. The dealer managers for the tender offer were Goldman Sachs & Co. LLC, Itau BBA USA Securities Inc., and Morgan Stanley & Co.

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.