Cleary Gottlieb Steen & Hamilton is leading Brazilian state oil company Petróleo Brasileiro S.A. (Petrobras) through a $20 billion abbreviated five-day debt exchange and related tender—the New York-based law firm’s second gargantuan deal this month in Latin America.

The Petrobras offerings, which close and settle Wednesday, come on the heels of $10 billion in liability management transactions that Cleary advised on last week for another big state oil firm, Mexico’s Petróleos Mexicanos (Pemex).

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