We advised XP on its Rule 144A / Regulation S unsecured notes offering and concurrent tender offer

Davis Polk advised XP Inc. in connection with a Rule 144A / Regulation S offering of $500 million aggregate principal amount of its 6.750% senior unsecured notes due 2029.

We also advised XP Inc. in connection with its concurrent cash tender offer for any and all of its 3.250% senior unsecured notes due 2026, which was funded from the net proceeds of the offering.

Based in São Paulo, Brazil, XP Inc. and its subsidiaries are a leading technology-driven platform and a trusted provider of low-fee financial products and services in Brazil. XP provides customers with two principal types of offerings, financial advisory services for retail clients in Brazil, high-net-worth clients, international clients and corporate and institutional clients, and an open financial product platform providing access to over 800 investment products including equity and fixed income securities, mutual and hedge funds, structured products, life insurance, pension plans, real-estate investment funds (REITs) and others from XP, its partners and competitors.

The Davis Polk capital markets team included Manuel Garciadiaz, Konstantinos Papadopoulos and Matt Weaver. The tax team included William A. Curran and Justin Corvino. Sarah E. Kim and Victoria Glass provided ’40 Act advice. Members of the Davis Polk team are based in the São Paulo and New York offices.

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