Movida’s $500 Million Bond Offering

Cleary Gottlieb represented Morgan Stanley, Bradesco BBI, Goldman Sachs, Itaú BBA, BTG Pactual, Citigroup, MUFG, Santander, UBS Investment Bank, and XP Investment Banking, as initial purchasers, in the offering of $500 million 7.85% notes due 2029, issued by Movida Europe S.A., a Luxembourg subsidiary of Movida Participações S.A. (Movida), and guaranteed by Movida and Movida Locação de Veículos S.A.

The transaction priced on April 4, 2024, and closed on April 11, 2024.

Movida is one of the largest car rental and fleet management companies in Brazil.