Mayer Brown is active in representing companies, creditors and financial advisors across Latin America and the Caribbean in debt restructuring and liability management transactions. Mayer Brown is one of the most active international law firms in Latin America today.
We established our Latin America practice in 1991, and today, more than 40 partners and associates in the United States offer our clients regional experience in international finance, including cross-border loans, debt restructuring and liability management, debt and equity capital markets, securitization and structured finance, M&A and other corporate transactions. Our clients include US and European companies and financial institutions with business interests in the region, as well as a wide range of corporations and financial institutions headquartered in Latin America and the Caribbean.
In Brazilian transactions, we work with our affiliate law firm in Brazil, Tauil & Chequer Advogados. With offices in both São Paulo and Rio de Janeiro, Tauil & Chequer has leading practices in debt restructuring, projects, oil & gas, securities offerings, environmental matters and compliance matters.
Our experience includes tender offers, exchange offers and consent solicitations—as well as negotiated debt restructurings. Past restructuring engagements have included:
- Abril. Represented Abril in a consent solicitation relating to its US$100 million notes.
- Banco Popular de Puerto Rico. Represented Banco Popular de Puerto Rico in the sale of a portfolio of distressed construction and commercial real estate loans to a newly created joint venture that is majority owned by a limited liability company created by a multinational finance company and Caribbean Property Group.
- Grupo Hima. Represented Credit Suisse AG as administrative agent in a loan to Grupo Hima, a Puerto Rico hospital company, the proceeds of which were applied to retire, at a discount, other outstanding HIMA debt.
- Libra JV Project. Represented the facility agent and collateral agent, under a credit agreement that provided approximately US$1 billion to finance the construction of an FPSO vessel (named “Libra”) in Singapore for delivery to a Brazilian joint venture sponsored by Odebrecht Oil & Gas (OOG) and Teekay Offshore Partners; under contract to be chartered to Petrobras. The bank group consisted of ABN Amro, Natixis, New York Branch, DNB Capital, ING Capital, Sumitomo Mitsui Banking Corporation and two other major financial institutions.
- Panama Canal Restructuring. Represented the Panama Canal Authority on the restructuring of the financial arrangements for the $3.2 billion contract providing for the construction of the third set of locks at the Panama Canal, which is the centerpiece of the US$5.2 billion Canal Expansion Project.
- Petrobras. Represented various syndicated lending groups in waivers and amendments related to debt of Petrobras, the Brazilian state-owned oil company.
- San Antonio. Represented collateral agent and major creditor in debt restructuring of oil drilling company San Antonio and its subsidiaries in Brazil, Colombia and Argentina.
- Trinidad Cement Limited. Acted as counsel to the Steering Committee of Creditors for the restructuring of US$263 million of debt of Trinidad Cement Limited and its subsidiaries in Trinidad, Jamaica, Barbados, Guyana, Saint Kitts and Nevis, and Anguilla. Subsequently, represented the arranger, Credit Suisse and a major financial institution in a refinancing of debt owed to the Steering Committee and other lenders.
- Tuscany International Drilling. Represented Credit Suisse AG as administrative agent, in the restructuring of Tuscany International Drilling, a Canadian company with oil/gas platform leasing operations in Brazil, Colombia and Argentina. The restructuring included a US Chapter 11 proceeding in Delaware with concurrent proceedings in Canada, the sale of TID’s operating assets to a newly-formed lender-controlled company and the separate sale of TID’s Brazil operations to a regional company.
- Ultrapetrol. Represented an international financial institution and OPIC Fund for International Development (OFID) in a restructuring of the debt of Bahamian shipping company, Ultrapetrol (Bahamas) Limited, with operations in Argentina, Brazil and Paraguay.
- Urbi/GEO. Represented a major creditor of Urbi and GEO, two of Mexico’s largest homebuilders, in the debt restructuring of the two companies.
- Usina Santa Isabel S.A. Represented Banco Itaú, BBA, Rabobank, Citibank and other lenders in the restructuring of Reais and Dollar denominated debt into a consolidated dollar pre-export financing.
- Vitopel International B.V. Represented Credit Suisse AG as administrative agent in a refinancing for Vitopel International B.V. and its Argentine and Brazilian subsidiaries, which facilitated a corporate restructuring and acquisition of existing debt.
Ranked Band 2 for Banking & Finance – Latin American-wide
Ranked Band 2 for Projects – Latin America-wide
Ranked Band 3 for Energy & Natural Resources – Latin American-wide
Ranked Band 4 for Capital Markets – Latin American-wideChambers Latin America 2017
Ranked Band 2 for Projects (similarly ranked in 2016, 2015 and 2014)
- "The team has done an outstanding job, we are very pleased. The lawyers excel in finding creative solution solutions to unforeseen problems. Their work has been really excellent and I would highlight the depth and breadth of their knowledge of structured finance."
Ranked Band 2 for Banking & Finance (similarly ranked in 2016, 2015 and 2014)
- "[Involved in] many cutting-edge matters including secured and unsecured finance, structured finance and project finance. Strong showing in the capital markets space, and noted capacity to handle a broad range of energy and infrastructure financings."
"We have an excellent opinion of the firm and its capacity in structured finance deals in Latin America. They are committed, hard-working and constructive, and have a proactive approach."
Ranked Band 3 for Energy & Natural Resources (similarly ranked in 2016)
- "The client service is excellent. I really value the team's constant availability, broad vision and innovative propositions in all the matters. What sets this firm apart from the rest is its vision."
Ranked Band 3 for Insurance (similarly ranked in 2016, 2015 and 2014)
- "The lawyers are proactive and good at what they do. They are commercial and focused on looking after the clients' interests."
Ranked Band 4 for Capital Markets
Chambers Global 2016Ranked Band 2 for Projects – Latin America-wide
Ranked Band 2 for Banking & Finance – Latin American-wide
Chambers Latin America 2016
Ranked Band 4 for Corporate M&A (similarly ranked in 2014 and 2015)
- "They have a deep knowledge of the project finance area and the Latin American energy sector. They're involved in many of the cross-border infrastructure deals of note."
Ranked Band 1 for Latin American Investment in Texas
- "The lawyers have exceptionally deep knowledge of project financing."
"I value the team for their expertise in the energy sector. They have experience in high-value, cross-border infrastructure deals in Latin America."
Ranked Band 4 for Latin American Investment in New York
- "They handled our corporate matters very well. They have a deep knowledge of the market and can handle cross-border work incredibly well."
"They have an outstanding command of complex legal matters. They have a deep knowledge of the project finance arena and the Latin American energy sector."
Americas Project Finance Team of the Year
Project Finance Practice Group of the Year
Legal 500 Latin America 2014
Tier 1 in Projects & Energy
Recent Deal of the Year Awards
- Aruba Green Corridor. Best Infrastructure Financing: Caribbean 2016.
InterChile Transmission Line Projects. Best Power Deal 2016.
Marcona and Tres Hermanas Wind Farm Projects.Best Renewable Energy Financing 2015.
Rutas de Lima Toll Road. Best Local Currency Financing; Best Road Financing; and Best Infrastructure Financing (Andes),and 2014 PPP Deal of the Year by World Finance magazine.
Parque Eólico Marcona/Tres Hermanas. Best Renewable Energy Financing, 2015.
ACI Airport SudAmérica. Best Airport Financing2015.
Abengoa Transmisión Sur (ATS). Latin American Transmission Deal of the Year 2014.
Orosí Wind Farm Project. Latin America Wind Deal of the Year 2013.
Luis Muñoz Marin International Airport. North America Transport Deal of the Year 2013.
Oaxaca II and Oaxaca IV Wind Farm Projects. Latin American Project Bond Deal of the Year 2012.
Via Parque Rimac. Latin American PPP Deal of the Year 2012.
Huascacocha Water Infrastructure. Latin America Water Deal of the Year 2010 & Project Finance Deal of the Year 2011.