DLA Piper represents Rioprevidencia and State of Rio de Janeiro in securitisation

DLA Piper has represented Rioprevidencia, Rio de Janeiro’s state-owned pension fund, as sponsor, and the State of Rio de Janeiro in a 144A/Reg S $1.1bn (£701m) securitisation of oil royalties, the second international offering the law firm has handled for the fund in 2014.

This transaction follows a June 2014 $3bn offering, which was the first international securitisation of Brazilian oil and gas royalties — a landmark transaction due to both its size and structure.

The DLA Piper team representing Rioprevidência and the State of Rio de Janeiro was led by Gianluca Bacchiocchi (New York and Chicago), Jeffrey Susskind (New York and Sao Paulo) and Diego Harman (New York).