Davis Polk advised BB Securities Ltd., Banco Bradesco BBI S.A., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., and J.P. Morgan Securities LLC, as initial purchasers on the Section 3(a)(2) offering by Banco do Brasil S.A., acting through its Grand Cayman branch, of its 3.875% senior notes due 2017 in an aggregate principal amount of US$500 million. Payment on the notes is guaranteed by Banco do Brasil S.A., acting through its New York branch.

Headquartered in Brasília, Banco do Brasil is the largest bank in Latin America in terms of total assets.

The Davis Polk corporate team included partner Maurice Blanco, counsel Courtenay U. Myers, associate Andrew Lyle and foreign temporary associate Fernanda Desio (admitted only in Brazil). The tax team included partner Po Sit and associate Anthony L. Olivia. Joshua Sills was the legal assistant for the transaction. Members of the Davis Polk team are based in the São Paulo and New York offices.