Juan Pablo Moreno

• Represented Apollo Global Management, Inc., in a repackaging of DPR notes issued by Bank Ziraat in Turkey, whereby an SPV set up by Apollo purchased notes issued by Bank Ziraat and then issued repackaging notes to Apollo insurance affiliate Athene.
• Represented ArtCap Advisory as agent and arranger on $50 million diversified payment rights future flow securitization for Banco Ficohsa Nicaragua.
• Represented Itaú BBA USA Securities, Inc., as sole lead arranger and bookrunner in connection with a credit facility to Colombia-based The Elite Flower Group in an aggregate amount equal to US$430 million.
• Represented JPMorgan Chase, as lender, in a credit agreement with infrastructure investor, Actis, to finance a portion of its acquisition of a portfolio of three strategic highway concessions in Colombia.
• Represented EPM on a US$500 million credit agreement with Banco Santander S.A., Banco Bilbao Vizcaya Argentaria S.A. (Milan Branch) and BNP Paribas, with the support of the Italian Export Credit Agency (SACE).
• Corporación Nacional del Cobre de Chile (CODELCO), the Chilean state-owned copper company and the largest copper producer globally, in connection with a US$500 million credit agreement with Banco Santander.
• Represented the City of Bogota (Colombia) on the issuance of Rule 144A/Regulation S US$600 million COP-denominated green notes due 2035, the proceeds of which were used to finance certain projects as part of its green development policies. Eligible green projects include clean transportation, products related to the circular economy, land use, conservation, sustainable management of natural resources, sustainable and integrated water and wastewater management, green buildings, and energy efficiency.
• Represented an international bank in connection with their US$200 million financing of Colombian energy company Celsia, S.A. E.S.P.-s acquisition of energy businesses in Costa Rica and Panama from energy company GDF Suez\
• Represented Empresas Públicas de Medellín (EPM), Colombia's state-owned utilities company, on a $650 million syndicated unsecured credit facility. EPM operates 26 generation plants, including 24 hydroelectric, one 460 MW thermal, and a 19.5 MW wind park, holding a 22.6% market share with an installed capacity of 3,540 MW.
• Represented VINCI Airports (VINCI), as borrower, in the negotiation and execution of a credit and guaranty agreement with Banco Inbursa, HSBC México and Scotiabank, as lenders, in support of the $1.17 billion acquisition of Fintech Advisory Inc.’s 29.99 percent stake in Mexican airport operator Grupo Aeroportuario del Centro Norte (OMA). This acquisition makes VINCI the largest shareholder in OMA and gives VINCI an operational role in 13 airports in northern and central Mexico.
• Represented the governments of Colombia and Peru in a record-breaking World Bank catastrophe bond issuance, alongside Chile and Mexico, collectively securing over US$1.3 billion in earthquake insurance coverage as part of the "Pacific Alliance" initiative.
• Represented Global Bank Corporation in a financing of US$200 million for its acquisition of 99.972% of Banco Banvivienda S.A.
• Represented BNP Paribas, CDPQ, Itaú and SMBC in connection with a US$278 million refinancing of the original construction debt of the financing of the Concesión Autopista Conexión Pacífico 2 toll road project in Colombia, which includes 42.5 kilometers of new roads, 2.5-kilometers of tunnel-ways, including the pioneering Tunel de Mulatos, 54 kilometers of rehabilitated roads and 43 bridges. The transaction involved, among others, a US$260 million term loan facility and a US$18 million letter of credit facility.
• Represented Deutsche Bank, SMBC and Global Bank Corporation in connection with a US$160 million purchase of CDNOs (Certitficados de No Objeción) issued by the Panamanian government in connection with the Metro de Panama’s Line 1 Extension Project from Consorcio Línea Panamá Norte, Sucursal de Obrascon Huarte Lain, S.A. Panamá and Mota-Engil Engenharia e Construção S.A. (Sucursal Panama).
• Represented Global Bank Corporation in connection with a US$200 million syndicated term loan facility arranged by Citigroup Global Markets Inc., JP Morgan Chase Bank, N.A. and Sumitomo Mitsui Banking Corporation.
• Represented Global Bank Corporation in connection with a US$240 million covered loan facility secured by a pool of pension fund loans transferred to a Panamanian guaranty trust.
• Represented Goldman Sachs, as arranger, in connection with a US$150 million credit facility by DFC to Ecuador DPR Funding originated by Banco Pichincha, S.A.
• Represented Goldman Sachs Lending Partners LLC, as arranger, in connection with a US$195,000,000 credit facility to Ecuador Diversified Payment Rights secured by Diversified Payment Rights sold by Banco del Pacífico S.A.
• Represented CIBC on its agreement to sell a two-thirds stake in Barbados-headquartered FirstCaribbean International Bank to GNB Financial Group Limited (a subsidiary of the Gilinski Group, one of Colombia’s largest financial groups) for US$797 million, as well as CIBC’s financing commitment to the buyer to fund a portion of the purchase price.
• Represented Citibank, N.A.,in providing financing for a portion of the purchase price for the US$603 million acquisition by Organizacion Terpel S.A., a Colombian oil and gas company, of assets of ExxonMobil in Colombia. (February 2018)
• Represented the joint lead arrangers in connection with an approximate US$1.5 billion acquisition by a Mexican entity of a majority stake in the world largest irrigation company located in Israel.
• Represented The Bank of Nova Scotia, The Bank of Tokyo-Mitsubishi UFJ, Ltd., BNP Paribas Securities Corp., Citigroup Global Markets Inc. and HSBC Securities (USA) Inc. in connection with the amendment and extension of the US$1.5 billion credit facility of Sociedad Minera Cerro Verde S.A.A. The borrower is a subsidiary of Freeport-McMoran Copper & Gold Inc.
• Represented Scotiabank Panama, as administrative agent, in connection with an approximately US$600 million financing to Gas Natural Atlantico, S. de R.L. and Costa Norte LNG Terminal S. de R.L., the proceeds of which were used for the construction and development of an LNG (liquefied natural gas) power block and LNG terminal to be located in the province of Colon, Panama.
• Represented Invenergy Thermal Global LLC and Invernergy Clean Power LLC in connection with a US$200,000,000 Letter of Credit and Guarantee facility with General Electric Company.
• Represented the arrangers, lenders and administrative agent in connection with a $223 million loan to finance the acquisition by Promerica Financial Corporation of Citibank’s Guatemalan banking operations and secured by assets in Ecuador, Honduras, Panama, Guatemala and the Dominican Republic.

Capital Markets

• Represented Jefferies LLC, BCP Securities LLC and Credit Suisse Securities (USA) LLC as initial purchasers in a US$500 million issuance by Mexico Remittances Funding Fiduciary Estate of Series 2021-1 Fixed Rate Notes secured by a remittances program established by Nueva Elektra del Milenio, S.A. de C.V. and guaranteed by Grupo Elektra, S.A.B. de C.V., a major retail and financial services Mexican conglomerate.
• Represented the underwriters in connection with the US$240 million offering of common and preferred shares by Banco Inter S.A., a digital bank and one of the leaders in the modernization of the Brazilian banking industry. The shares are listed in Brazil on the São Paulo Stock Exchange and were offered in Brazil and sold offshore pursuant to Rule 144A/Regulation S under the U.S. Securities Act of 1933.
• Represented Lavvi Empreendimentos Imobiliarios S.A., a real estate joint venture developer of Cyrela Brazil Realty SA and RH Empreendimentos Imobiliários Ltda., in a US$195 million initial public offering in Brazil and the concurrent placement and sale outside Brazil pursuant to Rule 144A/ Regulation S.
• Represented the underwriters in a US$202.6 million Rule 144A/ Regulation S and Brazilian registered offering of shares issued by Grupo Dimed S.A and its existing shareholders, a leading company in the Brazilian pharmaceutical sector.
• Represented Bank of America, as Dealer Manager in connection with a Rule 144A/Regulation S exchange offering of any and all 6.875% notes issued by ACI Airport Sudamérica S.A. for its newly issued 6.875% Cash/7.875% PIK Senior Secured Notes.”
• Represented the Citi, UBS and Banco Santander as Dealer Managers in connection with a Rule 144A/Regulation S exchange offering of any and all 6.875% notes issued by Aeropouertos Argentina 2000 for its newly issued 6.875% Cash/9.375% PIK Class I Series 2020 Additional Senior Secured Notes.”
• Represented UBS, as underwriter, in a US$225 million Rule 144A/Reg S bond offering by TransJamaican Highway (TJH). TJH is the concession holder for the operation and maintenance of the Highway 2000 East West toll road. The bonds were issued in connection with a simultaneous IPO of the shares of TJH, which was the largest IPO in Jamaican history. Proceeds were used to repay bridge facilities, pay a dividend to state-owned National Road Operating and Constructing Company Limited, and support TJH’s future expansion plans and working capital needs.
• Represented Locaweb Serviços de Internet S.A. (February 2020) and the selling shareholders in a R$1.2 billion (US$282 million) the initial public offering of shares in Brazil and the concurrent placement and sale of shares outside of Brazil pursuant to Rule 144A/Regulation S. The offering generated robust demand from investors and the shares were priced at the top of the suggested range. Among shareholders selling part of their stakes are private equity firm Silver Lake and founder family Gora.
• Follow-on offering: Represented underwriters in connection with a R$634 million Rule 144A/Regulation S offering of shares issued by Log-In Logística Intermodal S.A., the second largest shipping company and only independent operator in the Brazilian container cabotage market. The shares are listed in Brazil on the Brazilian Stock Exchange and were offered in Brazil pursuant to CVM Instruction No. 476 and sold offshore pursuant to Rule 144A/Regulation S under the U.S. Securities Act of 1933.
• Represented the underwriters in connection with the US$348.8 million offering of common and preferred shares by Banco Inter S.A., a digital bank and one of the leaders in the modernization of the Brazilian banking industry. The shares are listed in Brazil on the São Paulo Stock Exchange and were offered in Brazil and sold offshore pursuant to Rule 144A/Regulation S under the U.S. Securities Act of 1933.
• Represented the investors in connection with a US$415 million 4(a)(2) private placement of senior secured notes by Sociedad Concesionaria Operadora Internacional S.A.-OPAIN S.A., the operator of the El Dorado International Airport in Bogota, Colombia. The transaction was arranged by HSBC, BNP Paribas and SMBC.
• Represented Global Bank Corporation in connection with a US$300 million Senior Fixed to Floating Rate Notes of Global Bank Corporation the proceeds of which were used to purchase any and all of Global Bank’s existing 5.125% Notes due 2019 and tendered pursuant to a cash tender offer that closed simultaneously with this offering and for general corporate purposes.
• Represented the underwriters in connection with the US$1.5 billion offering of shares by BK Brasil Operação e Assessoria a Restaurantes S.A., the franchisee of Burger King in Brazil. The shares are listed in Brazil on the São Paulo Stock Exchange and were offered in Brazil and sold offshore with the offshore offering done pursuant to Rule 144A/Regulation S under the U.S. Securities Act of 1933. This offering was considered the most successful IPO of the year in Brazil, with the company reaching the stock market with a capitalization of R$4 billion.
• Represented TÜRKİYE ŞİŞE VE CAM FABRİKALARI A.Ş. in its US$150,000,000 6.95% Guaranteed Notes tap offering. The Notes were guaranteed in partial and several basis by each of the company’s significant subsidiaries Trakya Cam Sanayii A.Ş., Anadolu Cam Sanayii A.Ş., Paşabahçe Cam Sanayii ve Ticaret A.Ş. and Soda Sanayii A.Ş.
• Represented TÜRKİYE ŞİŞE VE CAM FABRİKALARI A.Ş. in its US$500,000,000 6.95% Guaranteed Notes offering. The Notes were guaranteed in partial and several basis by each of the company’s significant subsidiaries Trakya Cam Sanayii A.Ş., Anadolu Cam Sanayii A.Ş., Paşabahçe Cam Sanayii ve Ticaret A.Ş. and Soda Sanayii A.Ş.
• Represented Bradesco BBI, Citigroup, Morgan Stanley, BB Investimentos and Nomura, as placement agents, in a US$208 million offering of preferred shares by Banco Inter S.A., a digital bank and one of the leaders in the modernization of the Brazilian banking industry. The preferred shares were simultaneously listed in Brazil on the São Paulo Stock Exchange and were offered in Brazil and sold offshore pursuant to Rule 144A/Regulation S. The offering was the first retail bank IPO in Brazil in nearly a decade.
• Represented the governments of Colombia and Peru in a US$1.4 billion World Bank catastrophe bond offering that provides Colombia, Peru, Chile and Mexico with protection from catastrophic earthquakes. (2018)
• Represented Metrovacesa, S.A., one of the largest residential developments in Spain, in connection with its €645 million initial public offering. Deutsche Bank AG, London Branch, Morgan Stanley & Co. International plc, BBVA, S.A., Banco Santander, S.A., Goldman Sachs Interantional, Societé Générale, CaixaBank, S.A., Norbolsa S.V. and Fidentiis Equities S.V., S.A. acted as initial purchasers.
• Represented Merrill Lynch, Pierce, Fenner & Smith Incorporated, Bradesco Securities, Inc., BTG Pactual US Capital, LLC, Itau BBA USA Securities, Inc., J.P. Morgan Securities LLC and XP Securities LLC in connection with a circa US$1.5 billion initial public offering by BK Brasil Operação e Assessoria a Restaurantes S.A., the largest franchisee of Burger King in Brazil.
• Represented Sanepar, a Brazilian water sanitation company, in a US$300 million follow-on offering of 18,846,177 units (comprised of common and preferred shares) million from an initial public offering listed. Merrill Lynch, Pierce, Fenner & Smith Incorporated and Itau BBA USA Securities, Inc. acted as international placement agents.
• Represented BTG Pactual US Capital, LLC, Santander Investment Securities Inc., Itau BBA USA Securities Inc., and Credit Suisse Securities (USA) LLC in connection with a circa US$150 million primary and secondary offering of common stock in the international markets of International Meal Company Alimentação S.A., a Brazilian corporation operating in the food industry. The securities were sold in a private offering in Brazil and pursuant to Rule 144A/Regulation S outside Brazil.
• Represented Multibank, a Panamanian bank in connection with a US$300 million notes offering pursuant to Rule 144A/Regulation S.
• Represented Global Bank Corporation, a Panamanian bank in connection with a US$150 million Rule 144A/Regulation S re-tap of its US$400 million 5.125% notes.
• Represented Banco Davivienda (Costa Rica) S.A. in the creation of, and $150,000,000 first funding under, a Dollar-denominated diversified payment rights program. The issuance included one series of five year notes and one series of seven year notes. BNP Paribas Securities Corp. acted as placement agent.
• Represented Sanepar, a Brazilian water sanitation company, in raising US$496 million from an initial public offering listed on the Brazilian stock exchange and sold offshore pursuant to Rule 144A/Regulation S. The selling shareholders were the Government of the State of Parana, Andrade Gutierrez, Domino Holdings and a fund managed by Caixa Economica Federal. Brazilian banks Bradesco, BTG Pactual, Itau BBA and Banco Votorantim were joint bookrunners on the offering.
• Represented Global Bank Corporation on its cash tender offer to purchase its outstanding covered bond notes due 2017 and the new issuance of $550 million notes due 2021.
• Represented Bank of America in connection with a US$127 million 4(a)(2) private placement of securities of Aeris Holding Costa Rica S.A., the operator of the San Jose Airport.
• Represented Nomura Securities Inc., and Merrill Lynch, Pierce, Fenner & Smith Incorporated in connection with a US$225 million Rule 144A/Regulation S issuance of securities of Puerta del Sol S.A., the concessionary of the Carrasco Airport in Montevideo, Uruguay.
• Represented International Finance Corporation in connection with a US$20,000,000 Nuevos Soles-linked and Fixed Rate Linked loan to Banco Financiero del Peru S.A.
• Represented AENA, a Spanish airport operator, and the largest airport operator in the world, in raising US$4.5 billion from an initial public offering listedin the Madrid, Barcelona, Bilbao and Valencia stock exchanges and sold offshore pursuant to Rule 144A/Regulation S.
• Represented Global Bank Corporation, a Panamanian bank in connection with a Rule 144A/Regulation S offering of its US$400 million 5.125% notes. (
• Represented Citigroup Global Markets Inc., Itau BBA USA Securities, Inc., and Mizuho Securities USA Inc. in connection with a Rule 144A/Regulation S offering by Samarco Mineração S.A., a Brazilian corporation, of US$500 million 5.375% notes due 2024.
• Represented Costa Rican based Banco BAC San José, S.A. in the creation of, and US$210 million first funding under, a Dollar-denominated diversified payment rights program. The issuance included a 4(2) private placement of one series five-year notes and series of seven-year notes. Wells Fargo Securities acted as placement agents for this transaction. (2016)
• Represented Citigroup Global Markets Inc. and Bank of America Merrill Lynch in connection with a US$450 million Rule 144A/Regulation S bond offering of airline ticket receivables of the Chile-based LATAM Airlines Group S.A., Latin America’s largest airline and one of the largest airlines in the world in terms of passengers and cargo transported. The transaction marked the first securitization of airline ticket receivables in Latin America since 2002. (2015)