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2019 Winners

Recognising outstanding achievement and celebrating excellence across Latin Americas Capital Markets

2019 Winners

Latin America: Sovereign Debt Deal of the Year

Dominican Republic

DOP40,000,000,000 AND US$1,000,000,000

February 2018

Dual-Tranche USD and DOP-Linked Bonds due in February 2023 and February 2048

8.900% and 6.500% Coupon

JLMs/Bookrunners:

  • Citi
  • JPMorgan

Legal Advisers to the Issuer:

  • Clearly Gottlieb Steen & Hamilton
  • Pellerano & Herrera

Legal Adviser to the JLMs:

  • Simpson Thatcher & Bartlett LLP
  • Pellerano & Herrera

 

 

Latin America: Investment Grade Bond Deal of the Year

Suzano Papel e Celulose S.A.

BRL4,099,700,000 and US$1,000,000,000

September 2018

Senior unsecured dual-tranche Bond due in January 2029

6.00% and 6.125% Coupon

JLMs/Bookrunners:

  • ABN Amro
  • Banco do Brasil Securities
  • Bank of America Merrill Lynch
  • BNP Paribas
  • Bradesco BBI
  • BTG Pactual
  • Credit Agricole CIB
  • J.P. Morgan
  • ING
  • Itau BBA
  • Mizuho Securities
  • MUFG
  • Natixis
  • Rabo Securities
  • Scotiabank
  • SMBC Nikko

Legal Advisers to the Issuer:

  • Cleary Gottlieb Steen & Hamilton LLP
  • Weber Rechtsanwalte GmbH

Legal Advisers to the JLMs:

  • LinkLaters LLP
  • Pinheiro Guimarães 

 

Latin America: Syndicated Loan Deal of the Year

Suzano Papel e Celulose S.A.

US$9,200,000,000

March 2018

Dual-tranche Syndicated Loan due in March 2021 and March 2024

JLMs/Bookrunners:

  • ABN Amro
  • Bank of America Merrill Lynch
  • BNP Paribas
  • Credit Agricole CIB
  • ING
  • J.P. Morgan
  • Mizuho Bank
  • MUFG
  • Natixis
  • Rabo Securities
  • ScotiaBank
  • SMBC Nikko

Legal Advisers:

  • Cleary Gottlieb Steen & Hamilton LLP
  • Clifford Chance
  • Machado Meyer

 

Latin America: Project Finance Deal of the Year

Centrais Elétricas de Sergipe (Celse)

US$1,470,000,000

April 2018

US$400,000,000 in Equity (including US$123,000,000 in cash reserve accounts) split equally between Eletricidade do Brasil (Ebrasil) and Golar Power; and US$1,340,000,000 Non-recourse Project Finance facilities:

  • R$3,200,000,000 Private Placement Project Bonds due in April 2032
  • US$200,000,000 Loan from IFC due in April 2032
  • US$288,000,000 Loan from IDB Invest due in April 2032

JLMs/Bookrunners:

  • Goldman Sachs

Legal Advisers to Celse:

  • Stocche Forbes
  • Milbank Tweed Hadley & McCloy LLP

Legal Adviser to GE Capital:

  • Mayer Brown
  • Tauil & Chequer Advogados

Legal Advisers to JLMs and Lenders:

  • White & Case
  • Machado Meyer

 

 

Latin America: Financial Institutions Deal of the Year

Banco Santander Chile

CLP75,000,000,000

August 2018

Public Issuance under Local Regulation CLP Camara Floating Rate Note due in January 2022

ICP+66bps Coupon

Bookrunners and Legal Adviser:

  • Santander

 

 

Latin America: Niche Market Deal of the Year

Bow Power

Sponsors:

  • ACS Group
  • Global Infrastructure Partners (GIP)

Cajamarca

US$175,000,000

August 2018

Hybrid US Private Placement Note and Syndicated Loan due in May 2047

Sole Bookrunner and Placement Agent:

  • Natixis

Collateral Agent:

  • Banco de Credito del Peru

Legal Advisers to the Borrower/Issuer:

  • Baker McKenzie

Legal Advisers to the Joint Lead Manager, Bookrunner and Placement Agent:

  • Clifford Chance
  • Rodrigo, Elias y Medrano, Abogados

 Legal Advisers to the Collateral Agent:

  • Arnold & Porter (US)
  • Sacovertiz & Landerer (Peru)

 

Latin America: Structured Loan Deal of the Year

Aurelian Ecuador

Sponsor:

  • Lundin Gold   

Fruta Del Norte

US$350,000,000

Senior Secured Dual Tranche Project Finance Facility due June 2026

  • US$250,000,000 Uncovered Commercial tranche
  • US$100,000,000 ECA-covered tranche

Mandated Lead Arrangers and Bookrunners:

  • Scotiabank
  • ING Capital
  • KFW Ipex-Bank
  • Société Générale

Mandated Lead Arrangers:

  • Caterpillar Financial Services Limited
  • Natixis

Legal Advisers to the Borrower: 

  • Norton Rose Fulbright

Legal Adviser to the Joint Lead Managers:

  • Milbank Tweed, Hadley & McCloy LLP

Lega Adviser to Orion and Blackstone:

  • Shearman & Sterling LLP

 

 

Latin America: Structured Bond Deal of the Year

Atlas

US$108,400,000

June 2018

El Naranjal/Del Litoral Solar PV Projects

Green US Private Placement Dual-Tranche (Senior and Subordinated) Project Bond due in June 2042 (Senior Tranche) and June 2033 (Subordinated)

Lender of Record A/B Loan:

  • IDB Invest

Placement Agent:

  • DNB

Legal Advisor to DNB:

  • Mayer Brown 

Legal Advisor to IDB Invest:

  • Allen & Overy

 

Latin America: Leveraged Finance Deal of the Year

InRetail

US$1,000,000,000

January 2018

Senior Secured Bridge Loan Facility to Fund the Acquisition of Quicorp and Debt Refinance at the Target and InRetail Consumer Level by:

  • InRetail Shopping Malls 2021 Notes Tender Offer
  • InRetail Shopping Malls (March 2018) US$350,000,000 10NC5 Bond Offering 5.750% Coupon due in April 2028
  • InRetail Shopping Malls (March 2018) S314,000,000 10NC5 Bond Offering 6.525% Coupon due in April 2028
  • InRetail Pharma (April 2018) US$400,000,000 Bond Offering 5.450% Coupon due in May 2023
  • InRetail Pharma (April 2018) S386,000,000 Bond Offering at 6.4375% Coupon due May 2025

JLMs and Bookrunners of Senior Secured Bridge Loan, InRetail Shopping Malls Dual Tranche Bond, and InRetail Pharma Dual Tranche Bond:

  • Citi
  • JPMorgan

JLMs and Bookrunners of InRetail Shopping Malls Dual Tranche Bond, and InRetail Pharma Dual Tranche Bond:

  • Credit Suisse

Legal Advisers to the Borrower/Issuer:

  • Shearman & Sterling
  • Payet Rey Cauvi Perez Abogados

Legal Advisers to the Joint Lead Managers

  • Simpson Thatcher & Bartlett
  • Garrigues
  • Arias Aleman & Mora

 

Latin America: Sub-Investment Grade Bond Deal of the Year

Grupo Bimbo

US$500,000,000

April 2018

Perpetual 5NC3 Hybrid Notes NC5

5.950%

Joint Lead Managers/Bookrunners:

  • Bank of America Merrill Lynch
  • Citi
  • HSBC
  • ING
  • JPMorgan
  • Santander

Legal Advisers to the Issuer:

  • Skadded
  • Galicia Abogados

Legal Advisers to the Joint Lead Managers:

  • Cleary, Gottlieb, Steen & Hamilton
  • Ritch, Mueller, Heather & Nicolau

 

 

Mexico: Corporate Bond Deal of the Year

Grupo Bimbo

US$500,000,000

April 2018

Perpetual 5NC3 Hybrid Notes NC5

5.950%

Joint Lead Managers/Bookrunners:

  • Bank of America Merrill Lynch
  • Citi
  • HSBC
  • ING
  • JPMorgan
  • Santander

Legal Advisers to the Issuer:

  • Skadden, Arps, Slate, Meagher & Flom LLP
  • Galicia Abogados

Legal Advisers to the Joint Lead Managers:

  • Cleary, Gottlieb, Steen & Hamilton
  • Ritch, Mueller, Heather & Nicolau

 

 

Mexico: Syndicated Loan Deal of the Year

Vitro

US$700,000,000

July 2018

Senior Unsecured Term Loan Facility due in July 2023

Joint Lead Arrangers/Bookrunners:

  • HSBC
  • BBVA

Legal Advisers to the Borrower:

  • Cleary Gottlieb Steen & Hamilton LLP
  • Kuri Breña Sánchez Ugarte y Aznar

Legal Advisers to the JLMs:

  • Skadden, Arps, Slate, Meagher & Flom LLP

Greenberg Traurig, S.C.

 

 

 

Mexico: Structured Loan Deal of the Year

Fermaca

June 2018

US$814,800,000

Multi-tranche Structured Term Loan Facility

  • Tranche A: US$450,000,000 Senior secured notes due April 2041
  • Tranche B: US$255,000,000 Term loan due January 2032
  • Tranche C: US$109,800,000 Letters of credit due January 2025

JLMs/Bookrunners:

  • Norddeutsche Landesbank Girozentrale
  • BNP Paribas
  • ING Capital
  • Mizuho Bank
  • Sabcapital

Lead Investor:

  • Allianz Global Investors

Legal Adviser to the Borrower:

  • Latham & Watkins
  • Galicia Abogados

Legal Adviser to the Joint Lead Managers:

  • Milbank, Tweed, Hadley & McCloy LLP
  • Ritch, Mueller, Heather y Nicolau

 

 

Mexico: Structured Bond Deal of the Year

Actis

Cometa Energy

US$860,000,000

April 2018

Senior Secured Notes 6.375% Coupon due in April 2035

Joint Lead Arrangers/Bookrunners:

  • BNP Paribas
  • Citi
  • JPMorgan
  • Scotiabank
  • SMBC Nikko

Legal Advisers to the Issuer:

  • Millbank
  • Galicia Abogados

Legal Advisers to the Joint Lead Managers:

  • Shearman & Sterling
  • Gonzalez Calvillo

 

Mexico: Financial Institutions Deal of the Year

UNIFIN

US$250,000,000

Subordinated Perpetual NC7 Notes due January 2025

8.875% Coupon

JLMs/Bookrunners:

  • Barclays
  • Citi
  • Morgan Stanley
  • Scotiabank

Legal Advisers to the Issuer:

  • Cleary Gottlieb Steen & Hamilton
  • Mancera

Legal Advisers to the JLMs:

  • Skadden, Arps, Slate, Meagher & Flom LLP
  • Galicia Advogados

 

 

 

Mexico: Project Finance Deal of the Year

Fondo Nacional de Infraestructura (FONADIN)

FONADIN (Mexico – Puebla) Bond Issuance

MXN $15.38bn in a dual tranche Transaction consisting of MXN $12.74bn equivalent in UDIs and $2.64bn in MXN

UDI: 5.07%   MXN: 9.12%

25 Jan 2038 for both tranches

JLMs/Bookrunners:

  • HSBC as sole structuring agent.
  • HSBC and BBVA as Joint Bookrunners

Legal Advisers to Issuer:

  • Ritch Mueller

Legal Advisers to Bookrunners:

  • Galicia Abogados

 

Andes: Corporate Bond Deal of the Year

Frontera Energy

US$350,000,000

June 2018

Senior Unsecured 5NC3 Bond Offering Due June 2023

9.700% Coupon

Joint Lead Managers/Bookrunners:

  • Bank of America Merrill Lynch
  • Citi
  • HSBC
  • Itau BBA
  • JPMorgan

Legal Advisers to Issuer:

  • Proskauer Rose
  • Dentons Cardenas & Cardenas Abogados S.A.S
  • Cardenas & Cardenas
  • McMillan LLP
  • Gregory T Chu
  • Walder Wyss AG
  • Garcia Sayan Abogados
  • Lennox Paton

Legal Advisers to the Initial Purchasers:

  • Clifford Chance
  • Brigard & Urrutia
  • Blake, Cassels & Graydon LLP
  • Rubio Leguia Normand
  • Homburger AG
  • Higgs & Johnson

 

Andes: Syndicated Loan Deal of the Year

Grupo Energia de Bogota Syndication

January 2108

US$749,000,000

Syndicated Loan due January 2023

JLMs and Bookrunners:

  • Citi
  • Bank of America Merrill Lynch
  • SMBC

Legal Advisers to the Borrower:

  • Arnold & Porter
  • Mosquera & Mosquera (Local)

Legal Advisers to the Lenders:

  • Skadden, Arps, Slate, Meagher & Flom LLP

 

 

 

Andes: Project Finance Deal of the Year

Concesión Transversal del Sisga

Sponsors:

  • KMA Concesiones S.A.S.
  • Ortiz Construcciones y Proyectos S.A.

COP$625,200,000,000

May 2018

Dual-Tranche Senior Syndicated Loan Facility and Liquidity Facility due in May 2030 and 2035

  • COP$575,200,000,000 Tranche A of the Senior Facility due in May 2030; and Tranche B of the Senior Facility due in May 2035
  • COP$50,000,000,000 Liquidity Facility due in May 2035

US$ Equivalent: $15,738,662.654

Lead Arranger:

  • Alianza Fiduciaria

Senior Lenders:

  • Ashmore CAF
  • Instituto de Crédito Oficial (ICO)
  • Financiera de Desarrollo Nacional

Senior Lender and Liquidity Lender

  • Blackrock

Administrative Agent and Financial Advisor:

  • Credicorp Capital

Legal Advisors to the Co-obligors:

  • Brigard & Urrutia Abogados S.A.S.

Legal Adviser to the Senior Lenders:

  • Garrigues Colombia

Legal Adviser to the Liquidity Facility Lenders

  • Holland & Knight 

Spanish Legal Counsels to the Shareholder of the Concessionaire

  • J&A Garrigues S.L.P.
  • Jones Day

BRAZIL: Corporate Bond Deal of the Year

Suzano Papel e Celulose S.A.

BRL4,099,700,000 and US$1,500,000,000

September 2018

Senior unsecured dual-tranche Bond due in January 2029

6.00% Coupon

JLMs/Bookrunners:

  • ABN Amro
  • Banco do Brasil Securities
  • Bank of America Merrill Lynch
  • BNP Paribas
  • Bradesco BBI
  • BTG Pactual
  • Credit Agricole CIB
  • J.P. Morgan
  • ING
  • Itau BBA
  • Mizuho Bank
  • MUFG
  • Natixis
  • Rabo Securities
  • Scotiabank
  • SMBC Nikko

Legal Advisers to the Issuer:

  • Cleary Gottlieb Steen & Hamilton LLP
  • Weber Rechtsanwalte GmbH

Legal Advisers to the JLMs:

  •  LinkLaters LLP
  • Pinheiro Guimarães 

 

BRAZIL: Syndicated Loan Deal of the Year

Suzano Papel e Celulose S.A.

US$9,200,000,000

March 2018

Dual-tranche Syndicated Loan due in March 2021 and March 2024

JLMs/Bookrunners:

  • ABN Amro
  • Bank of America Merrill Lynch
  • BNP Paribas
  • Credit Agricole CIB
  • ING
  • J.P. Morgan
  • Mizuho Bank
  • MUFG
  • Natixis
  • Rabo Securities
  • ScotiaBank
  • SMBC Nikko

Legal Advisers:

  • Cleary Gottlieb Steen & Hamilton LLP
  • Clifford Chance
  • Machado Meyer

 

 

BRAZIL: Project Finance Deal of the Year

Centrais Elétricas de Sergipe (Celse)

US$1,470,000,000

April 2018

US$400,000,000 in Equity (including US$123,000,000 in cash reserve accounts) split equally between Eletricidade do Brasil (Ebrasil) and Golar Power; and US$1,340,000,000 Non-recourse Project Finance facilities:

  • R$3,200,000,000 Private Placement Project Bonds due in April 2032
  • US$200,000,000 Loan from IFC due in April 2032
  • US$288,000,000 Loan from IDB Invest due in April 2032

JLMs/Bookrunners:

  • Goldman Sachs

Legal Advisers to Celse:

  • Stocche Forbes
  • Milbank Tweed Hadley & McCloy LLP

Legal Adviser to GE Capital:

  • Mayer Brown
  • Tauil & Chequer Advogados

Legal Advisers to JLMs and Lenders:

  • White & Case
  • Machado Meyer

 

BRAZIL: Structured Bond Deal of the Year

Santa Victoria do Palmar/Santa Victoria do Palmar and Atlantic/ACTIS

BRL105,000,000

July 2018

Bonds Fully Wrapped by an IDB Credit Guarantee of BRL125,000,000 due in December 2031

ICPA + 5.92% Coupon

JLMs/Bookrunners:

  • XP Investimentos
  • Itau BBA
  • Bradesco

Legal Counsel to IDB:

  • Clifford Chance
  • Mattos Filho

Legal Advisers to the Borrower:

  • Paul Hastings
  • Lobo de Rizzo

Legal Advisers to the JLMs:

  • Hogan Lovells
  • Machado Meyer

 

 

BRAZIL: Structured Loan Deal of the Year

Biosev

R$219,800,000

May 2018

Syndicated Senior Pre-Export Finance Term Loan Facility due in April 2023

JLMs/Bookrunners:

  • ING
  • Credit Agricole
  • Natixis
  • Rabobank

Legal Adviser to Borrower:

  • Dias Carneiro Advogados
  • Norton Rose Fulbright

Legal Advisers to Lenders:

  • Santos Neto Advogados

 

BRAZIL: Financial Institutions Deal of the Year

Itaú Unibanco Holding S.A.

US$1,250,000,000

December 2017

Senior Unsecured NC5 Perpetual Notes

6.125% Coupon

JLMs/Bookrunners:

  • Bank of America Merrill Lynch
  • Itau BBA
  • JP Morgan
  • Standard Chartered

Legal Advisers:

  • Clifford Chance
  • Hogan Lovells
  • Pinheiro Neto

 

R$3,200,000,000 Private Placement Project Bonds due in April 2032 • <o:p></o:p>

US$200,000,000 Loan from IFC due in April 2032 •<o:p></o:p>

US$288,000,000 Loan from IDB Invest due in April 2032<o:p></o:p>

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