Globo’s $500 Million Offering and Tender Offer

Cleary Gottlieb represented Goldman Sachs & Co. LLC, Itau BBA USA Securities Inc., and Santander Investment Securities Inc., as initial purchasers, in a Rule 144A/Reg. S offering of $500 million 4.875% senior unsecured notes due 2030 issued by Globo Comunicação e Participações S.A. (Globo) concurrently with the launch of an abbreviated cash tender offer for any and all of Globo’s 4.875% senior notes due 2022.

The new money offering priced on January 16, 2020, and closed on January 22, 2020. The proceeds of the new money offering will be used to purchase $167.1 million in the tender offer and for general corporate purposes.

The tender offer launched on January 8, 2020, expired on January 16, 2020, and closed on January 23, 2020. The dealer managers for the tender offer were Goldman Sachs & Co. LLC, Itau BBA USA Securities Inc., and Santander Investment Securities Inc.

Globo is the largest media group in Brazil and controls the leading broadcast television network and the leading pay-TV programmer in Brazil, as well as a diversified group of publishing, internet content, and music label companies.