Mayer Brown represented Cap Cana, S.A., a Dominican luxury resort developer, in its successful exchange of two series of senior secured notes for a single series of notes issued by a newly created Cayman special-purpose vehicle.

As part of this innovative exchange offer, Cap Cana transferred a number of undeveloped properties to the new issuer, which plans to market and sell the properties to support its payment obligations under the newly issued notes. Cap Cana worked with a steering committee of existing noteholders to foreclose on its valuable collateral properties under the existing notes and regain control of those properties (free of liens) at the conclusion of the tender process.

The Mayer Brown team was led by New York-based Banking & Finance partner George Miller and included: Corporate & Securities partner Michael Hermsen and associate Catherine Henderson (both Chicago); and Banking & Finance associates Sean Kulkarni (New York) and Christine Taverner (Charlotte).