JSL Europe’s $325 Million Offering

July 26, 2017

Cleary Gottlieb represented Morgan Stanley & Co. LLC, Santander Investment Securities Inc., J.P. Morgan Securities LLC, BB Securities Limited, Banco Bradesco BBI S.A., Banco BTG Pactual S.A.—Cayman Branch and XP Securities LLC as the initial purchasers in the $325 million bond offering by JSL Europe, guaranteed by JSL S.A.

The bond offering consisted of a private placement in the United States under Rule 144A and outside of the United States in reliance on Regulation S.

The deal priced on July 19, 2017, and closed on July 26, 2017. JSL intends to use the net proceeds from the sale of the senior notes for general corporate purposes, including to repay a portion of its existing consolidated short-term indebtedness at maturity.

JSL is one of the leading logistics services providers operating in Brazil to a large variety of clients in more than 16 economic sectors and is the second-largest player in the Brazilian rent-a-car market through Movida in terms of revenue and fleet size.