What are the most significant cases or transactions that your legal team has recently been involved in?

Bradesco was one of the largest banks in the operation that granted more than R$5bn in the financial operation called Conta Escassez Hídrica, aimed at helping the electricity sector face the costs arising from the low hydrology scenario and the increase in thermoelectric generation recorded over the course of 2021. Structured by joint action between the Ministry of Mines and Energy, the Ministry of Economy and the National Electric Energy Agency, the operation was contracted by a pool of banks and will be managed by the Chamber of Electric Energy Commercialization, with Bradesco as resource manager.

In 2022, we participated in the secondary offering of participating debentures of Vale, held by União and BNDES, with Bradesco BBI, our investment division, as lead coordinator of the offering, moving more than R$11bn. This was the first secondary public offering of debentures in the Brazilian market. Additionally in 2022, Bradesco BBI acted as coordinator in the public offering of shares of Eletrobras, which culminated in the privatisation process of the company, also advising on obtaining a waiver from the respective creditors to allow the privatisation.

Looking forward, what technological advancements do you feel will impact the role of in-house legal teams in the future the most? Which have you found most useful in your legal team?

I look forward to the tokenization of financial assets and the market’s appetite for this type of investment, which tend to bring about an advance in the regulation and public offering of this type of asset. The challenge will be to combine technology with the public distribution of this type of assets.

What are some of the main legislative or regulatory changes that have impacted you?

The last few years have brought many regulatory and self-regulatory changes in the Brazilian capital market. Among them, CVM Resolution 160 brought profound changes to the public offering of bonds and securities, and will provide greater speed and pragmatism, reflecting the maturing and growth of the domestic market.