REYL & Cie Ltd acted as lead arranger for a multi-currency USD 30 million bond issuance in relation to Cidade Matarazzo, a large-scale real estate, hospitality and luxury retail project in Sao Paulo, Brazil.
Cidade Matarazzo is the largest ongoing heritage renovation project in Brazil. It consists of multiple components spanning 250,000 m2, including a luxury Rosewood hotel designed by Jean Nouvel and Philippe Stark, as well as office and retail space developments. The project will also offer a revolutionary, tech-led retail experiential shopping environment never before seen in Brazil, with app-enabled technology revolutionizing the way consumers make purchases.
REYL’s Corporate Advisory & Structuring team provided bespoke project financing advice in relation to the issuer’s capital structure, the covenants, maturity and yield of the bond issue, all in the context of a complex transaction involving multiple stakeholders and jurisdictions.
François Reyl, Chief Executive Officer, comments: “Innovation is at the heart of all that REYL does and we are proud to be part of the current and future phases of this unique project. This transaction also marks a further milestone in the development of REYL’s Corporate Advisory & Structuring business line and reinforces its growing international footprint.”
Xavier Ledru, Managing Director in the Corporate Advisory & Structuring team, comments: “With this transaction, we demonstrated our ability to devise and execute out-of-the-box solutions to meet the financing needs of our client and to enhance the project’s equity value appreciation potential whilst meeting strict requirements from bond investors.”