Shearman & Sterling advised on five LatinFinance Deal of the Year award-winning transactions, offering further proof of our world-class expertise advising on a wide range of complex and cross-border financial transactions in Latin America.

The following transactions received awards:

• FI Deal of the Year: Itaú Unibanco’s US$500 Million Tier II Notes Offering – The notes are the first Tier 2 notes issued by a Brazilian financial institution to finance green and social projects and marks the launch of Itaú Unibanco’s Sustainability Finance Framework. Lead Attorney: Roberta B. Cherman

• Corporate Liability Management of the Year: Petrobras’ $2.7 Billion Tender Offer – This tender offer consisted of approximately $2.5 billion of notes across 12 series of notes with varying interest rates and maturities. Lead Attorney: Roberta B. Cherman

• IPO of the Year: Rede D’Or’s R$11.4 Billion Initial Public Offering – The offering was the largest IPO in Brazil since 2013, and one of the three largest IPOs ever in Brazilian B3. Rede D’Or plans to use the proceeds from the primary offering in the construction of new hospitals and/or expansion of existing facilities, and for the acquisition of new assets (hospitals, oncology clinics, health insurance brokers, among others). Lead Attorney: Roberta B. Cherman

• Quasi-Sovereign Bond of the Year: Tocumen’s $1.855 Billion Senior Secured Notes Offering, Tender Offer and Consent Solicitation – Tocumen used the proceeds of this note offering to refinance existing bond and bank indebtedness and to fund the reserve and debt service payment accounts. The remainder was transferred to a COVID-19 recovery account to cover deficits in its ability to pay operations and maintenance expenses or to service the notes. Lead Attorney: Manuel A. Orillac

• Sovereign Bond of the Year: Peru’s $4 Billion Sovereign Bonds Issuance – The Republic of Peru will use the net proceeds from the offering to finance expenditures relating to the prevention and containment of COVID-19, as well as to stimulate the economy and for expenditures included in the budget for the fiscal year 2020 that were affected by the decrease in government revenues as a result of the COVID-19 pandemic. Lead Attorney: Antonia E. Stolper

LatinFinance selects the winners of its Deal of the Year awards following a consultation with market participants, research of publicly available information and an evaluation by its editorial team. These awards demonstrate Shearman & Sterling’s leading practice as advisors to Latin America’s leading corporates, financial institutions and sovereigns.