Cleary Gottlieb Steen & Hamilton LLP - News

Pemex gets US$8 billion mega loan

Pemex gets US$8 billion mega loan

18 July 2019

Cleary Gottlieb Steen & Hamilton LLP in New York has helped state-owned oil company Pemex get a loan worth US$8 billion.

Caixa sells stake in Petrobras

Caixa sells stake in Petrobras

16 July 2019

Cleary Gottlieb Steen & Hamilton LLP in New York and Lefosse Advogados in São Paulo have helped Brazilian state-owned bank Caixa Econômica Federal sell its stake in Petrobras through the largest equity issuance in Brazil in six years, worth US$1.9 billion.

Bondholders respond to Venezuelan opposition debt plan

16 July 2019

Holders of Venezuelan sovereign bonds have responded to the Guaidó opposition’s guidelines for a US$150 billion debt restructuring, warning that a workout must be fair and transparent to creditors.

Venezuela's diverse debt pile will complicate restructuring, says debt guru

Venezuela's diverse debt pile will complicate restructuring, says debt guru

15 July 2019

The “astonishing” diversity of Venezuela’s US$150 billion debt pile means its potential sovereign debt workout will be unlike any seen before, the opposition government’s adviser Lee Buchheit has said, as he raised scepticism about state oil company PDVSA entering Chapter 15 bankruptcy in the US.

Firms return to extend Camposol financing in Peru

12 July 2019

Arnold & Porter in Washington, DC, and New York and Rebaza, Alcázar & De Las Casas in Lima have helped Peruvian agribusiness Camposol obtain a further US$49 million loan as part of a credit programme extension.

Chile issues Latin America’s first green sovereign bonds

Chile issues Latin America’s first green sovereign bonds

11 July 2019

The Republic of Chile has hired Cleary Gottlieb Steen & Hamilton LLP in Buenos Aires and New York and Morales & Besa in Santiago to issue Latin America’s first ever green sovereign bonds, through two international transactions worth a total of US$2.4 billion.

Lawyers welcome Venezuelan opposition’s early debt restructuring plans

Lawyers welcome Venezuelan opposition’s early debt restructuring plans

10 July 2019

Lawyers have welcomed a policy paper issued by the restructuring team for Venezuela’s opposition, which suggests treating diverse creditors equally to prevent Argentina-style holdout disputes.

Central Puerto buys Santa Fe thermal power plant

08 July 2019

Cleary Gottlieb Steen & Hamilton LLP in Buenos Aires and Díaz Bobillo, Vittone & Associates have helped Central Puerto, one of Argentina's largest private sector power companies, acquire a thermal power plant from an Argentine state-owned energy company.

Petrobras pays arbitration award but vows to fight on

02 July 2019

Brazilian state oil and gas company Petrobras has paid over US$700 million to satisfy an award in favour of an offshore drilling contractor whom it accused of corruption – while retaining its right to appeal the confirmation of the award in the US courts.

Codelco and Anglo American overcome disputes for mining agreement

28 June 2019

Claro & Cía in Santiago has helped multinational mining group Anglo American agree a new governance framework with Chilean state-owned counterpart Codelco over the two businesses’ neighbouring mining sites.