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Simpson Thacher represented Itaú BBA USA Securities Inc. as dealer-manager in connection with the tender offer by General Shopping Finance Limited (the “Issuer”), a wholly-owned subsidiary of General Shopping e Outlets do Brasil S.A. (“General Shopping”), to purchase up to $40 million of the Issuer’s 10% perpetual notes. 15.78% of the outstanding perpetual notes in the aggregate principal amount of $18.3 million were tendered and accepted in the tender offer.

General Shopping is a leading developer of shopping malls in Brazil. It actively participates in the site search, planning, development and construction of shopping centers. General Shopping also leases and manages its shopping centers, provides parking management services and oversees the management of the supply of energy and water to the shopping centers it owns and operates. As of December 31, 2021, these shopping centers had an aggregate of 272 thousand square meters of gross leasable area (área bruta locável) and approximately 1,450 stores. General Shopping’s ownership interest in such shopping centers represents 34.4% of its gross leasable area. In addition, General Shopping manages the Outlet Premium Rio de Janeiro shopping mall in Duque de Caxias, Brazil, which had 20.9 thousand square meters of gross leasable area and 85 stores as of December 31, 2021.

The Simpson Thacher team included Jaime Mercado, Grenfel Calheiros and Isabel de Carvalho (Capital Markets); and Jonathan Cantor (Tax).