Hogan Lovells advises Caixa Econômica Federal on US$700 million social inclusion bond issuance, solidifying our position as one of the most active international law firms in Brazilian capital markets transactions in the last six months

Hogan Lovells is one of the most active international law firms advising on cross-border debt and equity capital markets transactions. In the last six months, we have advised companies on debt and equity issuances exceeding US$5.2 billion in principal amount or subscription price.

On May 15, 2025, Caixa completed the issuance of US$700 million 5.625% Senior Notes due 2030. In 2024, Caixa adopted its sustainable finance framework to increase financing for projects and credit lines that address Brazil’s main socioeconomic and environmental issues. Caixa intends to allocate an amount equal to the net proceeds from the issuance of the notes to the financing and/or refinancing of social projects that meet specified eligibility criteria within the sustainable finance framework.

The Hogan Lovells deal team was led by Isabel Costa Carvalho (Capital Markets, São Paulo) and Jonathan Lewis (Capital Markets, São Paulo), with support from partners Sharon Lewis (Capital Markets, Paris, London), Scott R. Lilienthal (Tax, Washington D.C.), and Ariane Mehrshahi Marks (Capital Markets, Luxembourg), senior counsel Henry Kahn (Regulatory, Baltimore and Washington D.C.), and counsel Reza Mulligan (Capital Markets, Paris, London). The team of associates involved included Felipe Lacerda (Capital Markets, São Paulo), Ana Laura Pongeluppi (Capital Markets, New York), Valerie Laskowski (Capital Markets, Luxembourg), Chasse Osborn (Tax, Boston), Eszter Voros (Capital Markets, Luxembourg), Leah Mazzuco (Capital Markets, São Paulo), and Pedro Meinberg (Capital Markets, São Paulo).