Machado Meyer, Stocche Forbes, Pinheiro Neto and Lobo & de Rizzo close rare debt offer

Brazil’s Machado, Meyer, Sendacz e Opice Advogados has helped São Paulo’s metro operator issue 165 million reais (US$47 million) worth of debentures, which are subordinated to a loan from the Inter-American Development Bank (IADB) and utilise a novel put option mechanism to protect the loan in the event of default.