Latin Lawyer recorded 22 multijurisdictional M&A deals that closed in Latin America from March to December 2019. Counting the deals, of which the value was public, the combined deal value was US$2.5 billion.
Latin Lawyer recorded 11 debt capital markets deals in Central America, the Dominican Republic, Ecuador, Panama, Paraguay and Uruguay, with a total combined value of approximately US$7.1 billion.
Colombian aviation group Avianca has filed for Chapter 11 protection in New York seeking to reduce its fleet in light of the covid-19 pandemic, in what is the second time it has turned to US bankruptcy courts since it became an early "bankruptcy tourist" almost two decades ago.
Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York and Bermuda’s Conyers, Dill & Pearman have helped one of the world’s largest cruise operators, Carnival Corporation, raise US$6 billion in simultaneous debt and equity issuances amid travel restrictions worldwide due to covid-19.
In the decade ahead of the 2017 Centre for Aviation (CAPA) summit in Colombia, Latin American airlines had tripled their flight seats on offer and the region was comfortably the world’s fastest growing for online reservations. At the summit, experts expressed optimism for the region’s aviation sector – but three years and a pandemic later, global airline revenues are forecast to lose a whopping US$315 billion.
During what is usually high season for the industry, Latin Lawyer speaks to external counsel advising companies in Latin America’s tourism and hospitality sector, which has been hit hard by the covid-19 pandemic.
An Italian construction group has made good on a threatened US$2.2 billion International Centre for Settlement of Investment Disputes (ICSID) claim against Panama over its work expanding the Panama Canal – the second treaty claim filed over the project which has also given rise to International Chamber of Commerce (ICC) cases worth around US$6 billion.
Gómez-Pinzón in Bogotá, Panama’s Morgan & Morgan, Muñiz, Olaya, Meléndez, Castro, Ono & Herrera in Lima and Pérez Bustamante & Ponce in Quito have helped Colombian airline group Avianca obtain a US$250 million loan through its Panamanian holding company from US counterpart United Airlines and US investor Kingsland Holdings.
Morgan & Morgan advised MMG Bank as collateral trustee in a loan to Panamanian fintech Adelantos Capital, marking the first ever financing to a local fintech company.
Morgan & Morgan in Panama City and Arias (El Salvador) have helped Panamanian bank La Hipotecaria issue notes for US$75 million.