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Lizbeth Flores

Associate

Corporate Finance

New York

T: 1.212.735.3866

F: 1.917.777.3866

lizbeth.flores@skadden.com

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Lizbeth Flores is a member of Skadden’s corporate and Latin America practices and has represented clients in financings and mergers and acquisitions of companies in Latin America, the United States, Europe and Asia. She also has extensive experience in private equity and syndicated lending transactions, including by multilateral organizations.

Ms. Flores’ representations involve numerous clients in cross-border transactions, including:

  • Embraer S.A. in its US$500 million offering of 5.15% notes due 2022.
  • BTG Pactual, Santander, Credit Suisse, BofA Merrill Lynch and Bradesco BBI in connection with the secondary offering of nearly 6.9 million quotas of Fundo de Investimento Imobiliário — FII BTG Pactual Corporate Office Fund held by BCRE Portfolio Fund I L.P. The issuer is Brazil’s largest real estate investment fund in terms of quota-holders’ equity. The R$1.1 billion (approximately US$518.5 million) offering was the first offering of its size of quotas of a Brazilian real estate fund pursuant to Regulation S and Rule 144A.
  • Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC as joint bookrunners in a US$500 million re-opening of the offering of 7.25% senior notes due 2041 issued by Votorantim Cimentos S.A. and guaranteed by Votorantim Participações S.A. and Votorantim Industrial S.A., under Rule 144A and Regulation S.
  • the bookrunners in a series of notes offering guaranteed by Votorantim Participações S.A., as follows: (i) US$1 billion Rule 144A/Reg S offering of 6.625% senior notes due 2019; (ii) US$750 million Rule 144A/Reg S offering of 6.75% guaranteed senior notes due 2021; (iii) US$750 million Rule 144A/Reg S offering of 5.250% senior notes due 2017; and (iv) US$750 million Rule 144A/Reg S offering of 7.25% senior notes due 2041, listed on the Irish Stock Exchange.
  • Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. Incorporated and HSBC Securities (USA) Inc. as joint global coordinators and bookrunners in:

    • a US$114 million Rule 144A/Reg S follow-on offering of common shares of Brasil Brokers Participações S.A.; and
    • a US$104 million Rule 144A/Reg S follow-on offering of common shares by Brasil Brokers Participações S.A.
  • Itau BBA USA Securities, Inc., BTG Pactual US Capital Corp., Santander Investment Securities Inc. and Credit Suisse Securities (USA) LLC as joint global coordinators and bookrunners in a US$216 million Rule 144A/Reg S follow-on offering of common shares by Tecnisa S.A.
  • Itau USA Securities, Inc., BTG Pactual US Capital Corp., UBS Securities LLC and Goldman, Sachs & Co. as underwriters in the initial public offering of US$389 million in shares of Mills Estruturas e Serviços de Engenharia S.A., a Brazilian specialty engineering services company, under Rule 144A/Regulation S.
  • Merrill Lynch, Pierce, Fenner & Smith Incorporated as dealer manager and solicitation agent in the tender offers and consent solicitations for US$650 million of notes guaranteed by Camargo Corrêa S.A. and InterCement Brasil S.A. The tender offers were made for the outstanding 8.875% notes due 2015 of Caue Finance Limited and 7.25% notes due 2013 of Loma Negra Compañia Industrial Argentina S.A.
  • Embraer-Empresa Brasileira de Aeronáutica S.A. in the issuance of US$500 million of notes of its subsidiary Embraer Overseas Limited, in an offering registered with the U.S. Securities and Exchange Commission.
  • Natura Cosméticos S.A. and the selling shareholders in a US$817 million secondary offering of common shares.
  • Banco BTG Pactual S.A., Banco de Investimentos Credit Suisse (Brasil) S.A. and Banco Morgan Stanley S.A. as underwriters in a US$340 million follow-on offering of common shares by Multiplan Empreendimentos Imobiliários, S.A., a Brazilian developer and operator of shopping centers.
  • Votorantim Celulose e Papel S.A. in its merger with Aracruz Celulose S.A., to create one of the world’s largest paper and pulp producers (Latin Lawyer M&A Deal of the Year 2009).
  • Goldman Sachs in the US$1.4 billion restructuring of Brazilian sugar and ethanol producer Santelisa Vale.
  • Sollus Capital, a portfolio company of Pactual Capital Partners in the sale of US$150 million in equity to a U.S. private equity fund.
  • BTG Pactual Banking Limited, a Cayman Islands subsidiary of Banco BTG Pactual S.A., in the preparation of loan documentation for its ongoing corporate lending operations.

Bar Admissions

New York
Florida
Admitted as a Consultant in Foreign Law to the Brazilian Order of Lawyers — São Paulo Section

Education

J.D., Harvard Law School, 2002

A.B., Harvard University, 1999

J.D., Harvard Law School, 2002

A.B., Harvard University, 1999

Experience

Adjunct Professor, São Paulo Law School of the Getulio Vargas Foundation (FGV)

Languages

English

Spanish

Portuguese

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