July 30, 2014

Milbank Represents Underwriters in $500 Million first time Basel III Tier 2 Bond Offering by Brazil’s Caixa Econômica Federal

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SÃO PAULO, July 30, 2014 – Milbank, Tweed, Hadley & McCloy LLP represented the underwriters BB Securities Ltd., Banco Bradesco BBI S.A., Banco BTG Pactual S.A. - Cayman Branch, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated in the $500 million offering of 7.250% notes due July 2024 by Caixa Econômica Federal.

It was the first time that a Basel III tier two bond ever sold publically in Brazil, and it is only the third of its kind in Latin America. Caixa Econômica Federal is Brazil’s largest fully government-owned mortgage and savings bank.

The Milbank team included Global Securities partners Andrew Jánszky and Tobias Stirnberg and associates Felipe Camara and Gabriela Britto; Tax partner Andrew Walker and associate Erika Hauser.