Roberta  Cherman

Roberta Cherman


Roberta is Managing Partner of Brazil.

She advises in a wide range of corporate and financial transactions, including public and private offerings of equity and debt securities (both high-yield and investment grade debt and SEC-registered transactions), liability management transactions, restructurings, financings, mergers and acquisitions, and governance/compliance.

Roberta has extensive experience advising clients on corporate structural matters and preparing clients to become debut issuers in the capital markets.

Roberta re-joined the firm in 2017 after almost a decade holding senior positions in Europe and Brazil at Itaú Unibanco, the largest private financial institution in Latin America. Roberta began her career as an associate in the firm's New York office.


Representative matters

Azul in connection with its comprehensive restructuring plan, including a US$1 billion par-for-par exchange offer to exchange into 11.500% senior secured second out notes due 2029 and 10.875% senior secured second out notes due 2030, a US$800 million new money offering, the restructuring of US$350 million of convertible debentures, as well as the long-term reprofiling of Azul’s aircraft lease and original equipment manufacturer liabilities.

Itaú Unibanco Holding S.A. and certain of its subsidiaries in connection with cross-border public tender offer of common shares (including in the form of ADRs) of Banco Itaú Chile S.A.

As a member of BNDES’ select panel of international legal advisors, BNDESPar as selling shareholder in the Rule 144A/Reg. S US$6.9 billion equity offering by Eletrobras (“Equity Follow-On of the Year” (2022), LatinFinance).

Banks on multiple Petrobras debt and equity offerings, as well as liability management transactions (including its tender offer named “Corporate Liability Management of the Year” (2021) by LatinFinance).

Published Work

  • Co-editor of Shearman & Sterling’s Latin America and Caribbean ESG Update


  • Roberta is noted by Chambers testimonials for her “knowledge of SEC regulations” and for “advising important clients (…) in high-value transactions in the equity and debt realms.”
  • Finance Lawyer of the Year in Latin America, Euromoney’s Women in Business Law Awards, 2022
  • Rising Star, Latinvex, 2017
  • Ranked, Chambers Global Capital Markets: International Firms, 2023
  • “Notable Practitioner”, IFLR1000 for Capital Markets in Brazil, 2023
  • “Recognized”, Legal 500 Latin America: International Firm, 2023



Brasil, 1997
New York, 2001


LL.B., Universidade Candido Mendes, 1997
LL.M., University of Chicago, 2000


Portuguese, English
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.