After months of talks, the Argentine government and bondholders have reached a breakthrough in negotiations over the country’s foreign bonds, which are worth US$65 billion. While bondholders’ assent is still pending, lawyers believe the deal will get the required approval numbers, marking the country’s return to the international capital markets.
Holland & Knight LLP in New York and Mexico City has helped Mexico’s largest real estate investment trust Fibra Uno raise US$650 million in an international debt offering, exceeding the issuer’s initial target.
Ecuador has defeated an injunction request by a “small minority” of bondholders seeking to block its tender for a US$17.4 billion sovereign bond restructuring, ahead of a securities fraud action.
Cleary Gottlieb Steen & Hamilton LLP in New York and São Paulo has helped Brazilian mining group Vale issue US$1.5 billion worth of debt.
Eminent dealmakers with strength in breadth
Three Davis Polk & Wardwell LLP offices and Payet, Rey, Cauvi, Pérez Abogados in Lima have helped Banco de Crédito del Perú (BCP) launch a debt offering and two tender offers worth nearly US$1.6 billion in total.
Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados has helped Brazilian food company BRF raise 2.2 billion reais (US$410 million) in an issuance of agribusiness receivables certificates (CRA), making it the largest ever transaction of its kind in Brazil.
Skadden, Arps, Slate, Meagher & Flom LLP in São Paulo and New York and Brazil’s BMA - Barbosa, Müssnich, Aragão have helped Banco BTG Pactual offer shares worth some 2.7 billion reais (US$500 million) in a follow-on transaction.
Cleary Gottlieb Steen & Hamilton LLP in Buenos Aires and New York has helped the Republic of Uruguay issue new sovereign bonds worth a combined total of US$2 billion, at the same time as the state bought back existing notes for US$1.5 billion.
Simpson Thacher Bartlett LLP in São Paulo, Harneys in the British Virgin Islands, Blake, Cassels & Graydon LLP in Toronto, Pinheiro Guimarães Advogados in São Paulo and Aguilar Castillo Love (Honduras) have helped Canadian mining conglomerate Aura Minerals and its shareholders complete an IPO and follow-on offering on Brazil’s B3 stock exchange, raising a total of 790 million Brazilian reais (US$150 million) in capital.