Overview

Mayer Brown represents banks around the world in the full range of their financing activities, including secured and unsecured corporate financing, acquisition financing, project financing, and structured finance. We have long been active in representing banks and other financial institutions in financing transactions involving Latin American and Caribbean borrowers. We also actively represent Latin American and Caribbean borrowers on their financing needs.

Our structured finance practice regularly advises US and foreign investment banks, originators and other clients in structuring and implementing sophisticated derivative and securitization transactions for receivables and other payment rights originated by financial institutions and other corporates. We are also at the forefront of the recent development of securitizing “local” assets for sale to international investors, such as securitizations of Brazilian, Mexican and Peruvian assets.

We have been actively involved in representing companies, creditors and financial advisors in the region in debt restructuring.

Experience

We have long been active in representing banks and other financial institutions in financing transactions involving Latin American and Caribbean borrowers. We also actively represent Latin American and Caribbean borrowers on their financing needs. Our experience includes:

  • Abengoa Transmisión Sur (ATS). Represented BNP Paribas Securities Corp. and and HSBC as underwriters on the US$432 million issuance of a senior secured project bond by Abengoa Transmisión Sur (ATS). The project comprises the design, construction, development, ownership and operation of a transmission line that will provide power connectivity from Lima to south-western Peru. 2014 “Americas Bond Deal of the Year” by Project Finance International (PFI).
  • ACI Airport SudAmerica S.A. Represented the initial purchasers in connection with the 144A/Reg S issuance by ACI Airport SudAmerica S.A. of US$200 million 6.875% Senior Secured Guaranteed Notes due 2032. The notes are listed on the Euro MTF market of the Luxembourg Stock Exchange. This deal represented the first-ever US dollar denominated corporate bond to finance infrastructure in Uruguay. Named Best Airport Financing 2015 by LatinFinance.
  • Aruba Green Corridor. Served as sponsor’s counsel to Grupo Odinsa S.A., whose Aruban affiliate Caribbean Infrastructure Company N.V. executed an approximately US$58.7 million debt financing with Deutsche Bank for the design, construction and maintenance operations over a 20-year period for the approximately $140 million availability payment road project.
  • Cemex. Advised Cemex, SAB de CV, in negotiating and documenting a US$3 billion term loan facility with ING Capital, as administrative agent, and Banco Santander, Société Générale, BNP Paribas and Calyon, as joint bookrunners, to finance part of Cemex’s successful US$15.3 billion bid to acquire the Rinker Group Limited in Australia.
  • Empresas ICA, S.A.B. de C.V. Represented Empresas ICA, S.A.B. de C.V., as Borrower, in a US$200 million term loan extended by Goldman Sachs, as administrative agent, arranger, syndication agent and as a lender.
  • Empresa Nacional de Telecomunicaciones S.A. Represented HSBC Securities (USA) and Banco de Chile, as lead arrangers and bookrunners, HSBC Bank NA, as administrative agent, and HSBC BANK NA and Banco de Chile, as lenders, with respect to a US$400 million bridge loan to finance the acquisition of Nextel del Peru S.A.
  • InterChile Transmission Line Projects. Represented Interchile S.A. as borrower on a senior secured loan arranged by a club of international banks and a prospective VAT facility to be arranged by Chilean banks. The project comprises the design, construction, development, ownership and operation of several transmission lines in the Central Interconnected Grid (SIC) and the Northern Interconnected Grid (SING) of Chile and has a publicly reported estimated project cost of US$1.3 billion. Named Best Power Deal 2016 by LatinFinance.
  • Itau Unibanco S.A. Represented Itaú Unibanco S.A., a Brazilian bank acting through its Cayman Islands Branch, as borrower with respect to a $400 million loan from the Overseas Private Investment Corporation (OPIC), the U.S. Government's development finance institution. The proceeds of the loan will be used by Itau Unibanco S.A. to make loans to small and medium enterprises in Brazil.
  • LILA Mexican Holdings. Represented HSBC Bank USA, N.A., as lender and lead arranger, and HSBC Securities (USA) Inc., as sole bookrunner, in connection with a US$1.9 billion secured credit facility to LILA Mexican Holdings LLC, as borrower. The proceeds of the credit facility were used to refinance a seller financing loan provided by GE Real Estate Mexico to an affiliate of Blackstone Real Estate Debt Strategies Fund in connection with Blackstone’s acquisition of GE Capital’s commercial real estate mortgage loan portfolio in Mexico.
  • Marcona and Tres Hermanas Wind Farm Projects. Acted as US legal counsel to Corporación Andina de Fomento in its capacity as subordinated lender in each of the Marcona and Tres Hermanas financings, and we represent an institutional investor in two additional proposed subordinated loan facilities for those same projects. Named Best Renewable Energy Financing 2015 by LatinFinance.
  • Petrobras Global Trading. Represented Bank of America, N.A., as Lender, with respect to a US$500 million unsecured loan to Petrobras Global Trading B.V. - PGT, as Borrower, and Petróleo Brasileiro S.A. - Petrobras, as Guarantor.
  • Rutas de Lima. Represented Goldman, Sachs & Co., BBVA, Credicorp Capital and Banco de Crédito del Peru as underwriters and loan arrangers on the mixed senior secured bond and senior secured loan for the US$1 billion Rutas de Lima project, a public-private partnership (PPP) toll road project in Lima, Peru. Best Local Currency Financing; Best Road Financing; and Best Infrastructure Financing (Andes), LatinFinance 2015 and 2014 PPP Deal of the Year by World Finance magazine.
  • Rutas de Lima Toll Road.  Represented the underwriters and loan arrangers on the mixed senior secured bond and senior secured loan for the US$1 billion Rutas de Lima project, a public-private partnership (PPP) toll road project in Lima, Perú. Named by World Finance as a Project Finance Deal of the Year 2014 in the category of Public Private Partnerships (PPP).
  • Staatsolie Maatschappij Suriname N.V. Represented Credit Suisse AG and ING Bank N.V., as joint lead arrangers, in a US$235 million syndicated loan facility for Staatsolie Maatschappij Suriname N.V., the state petroleum company of Suriname, to finance the construction of a refinery expansion project. This was the first large cross-border financing for a Suriname borrower.

Accolades

Chambers Global 2017

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-wide

Chambers 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."

Chambers USA 2015

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."

IFLR 2015

Americas Project Finance Team of the Year

Law360 2014

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.