Shearman And Sterling

News October 20, 2022

Shearman & Sterling Advises on Five Winning Bonds & Loans Latin America & Caribbean Awards Transactions

Shearman & Sterling advised on won five winning Bonds & Loans Latin America & Caribbean Awards transactions:

  • Corporate Liability Management Deal of the Year: Pemex's Sale of $1 Billion in Debt Securities and Concurrent Exchange and Tender Offers - The Government of Mexico made a capital injection of up to US $3.5 billion in PEMEX, the proceeds of which will be used to fund the exchange and tender offers. | Lead attorney: Grissel Mercado
  • Acquisition Finance Deal of the Year: Ecopetrol's SEC Registered $2 Billion Notes Offering - The net proceeds of the offering were used by Ecopetrol to prepay a portion of the outstanding principal amount under the loan Ecopetrol entered into in connection with its acquisition of Interconexión Eléctrica (ISA), of which $3.672 billion principal amount was outstanding prior to the prepayment. | Lead attorney: Grissel Mercado
  • Project Finance Deal 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
  • ESG Bond Deal of the Year: CBC's Offering of Senior Guaranteed Sustainability-Linked Notes - The Central America Bottling Corporation (CBC), CBC Bottling Holdco, S.L. and Beliv Holdco S.L. used the proceeds from the notes offering to purchase the 2027 notes tendered pursuant to the Tender Offer (and pay related expenses thereunder), to redeem any 2027 notes not tendered, to refinance other existing indebtedness and for general corporate purposes, including potential acquisitions. | Lead attorney: Manuel A. Orillac
  • Agency Bond Deal of the Year: CABEI's First Ever Social Recovery and Reconstruction COVID-19 Bond in the Mexican Market - The bond was issued based on CABEI´s Social Bond Framework that abides ICMA´s Social Bond principles, this framework received a solid and robust Second-Party Opinion from Sustainalytics. | Lead attorney: Grissel Mercado

The Bonds & Loans Latin America & Caribbean Awards recognize the most innovative and ground-breaking deals from Sovereign, Corporate and Financial Institution issuers and borrowers. The exhaustive selection process involves close examination of deal size, tenor, structure, and distribution; analysis and background of the borrower and their accessibility to financing; with extra credit for deals demonstrating high quality execution, accessing new pools of liquidity, innovative structuring, and opening-up new markets.

View the 2022 Bonds & Loans Latin America & Caribbean Awards Winners

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