Shearman & Sterling lawyers advised on five winning Bonds & Loans Latin America & Caribbean Awards transactions:
- Liability Management Deal of the Year: Brazilian Airline Azul's Restructuring – Representing Azul on its innovative comprehensive restructuring of debt and aircraft lessor and OEM liabilities, including US$3.2 billion in capital markets transactions, comprising bond exchange offers supported by an ad hoc group of noteholders, amendments to convertible debentures, a new money bond offering and the issuance of bonds and agreements to issue preferred shares to lessors/OEMs. | Lead attorneys: Roberta B. Cherman, Mark. J. Shapiro and Jonathan Lewis
- Quasi Sovereign Bond Deal of the Year: Petrobras $1.25 Billion SEC-Registered Bond Offering – This transaction represents the continuation of the Firm's long-standing relationship advising the underwriters in connection with debt and equity securities offerings by Petrobras. | Lead attorney: Roberta B. Cherman
- PEN Deal of the Year: Republic of Peru Issuance of Bonds, and Exchange and Tender Offers – The Republic of Peru used the net proceeds from the offering of Bonos Soberanos (and related GDNs) to finance the liability management transactions. The Republic of Peru intends to invest an amount equal to the proceeds from the offering of Bonos Soberanos (and related GDNs) in expenditures that may qualify as "eligible green and social categories" under Peru's Sustainable Bond Framework. | Lead Attorney: Antonia Stolper
- Ground-breaking Deal of the Year: Represent Credit Agricole CIB, HSBC, J.P. Morgan and Santander in the Republic of Uruguay's offer to purchase for cash 4.500% Global Bonds due 2023, 4.375% Global Bonds due 2027 and 4.375% Global Bonds due 2031 and USD SLB issuance of $1,499,975,998 5.750% Global USD Bonds due 2034. | Lead Attorney: Antonia Stolper
Additionally, prior to joining Shearman & Sterling in August 2023, Capital Markets partner Alejandro Gordano was lead attorney for the Sovereign, Supra & Agency Bond Deal of the Year. He advised Republic of Chile on the landmark sovereign sustainability-linked bond offering, which was the first sustainability-linked bond to include a gender-related key performance indicator by a sovereign issuer worldwide.
The Bonds & Loans Latin America & Caribbean Awards recognize the most innovative and ground-breaking deals from Sovereign, Corporate and Financial Institution issuers and borrowers. The exhaustive selection process involves close examination of deal size, tenor, structure, and distribution; analysis and background of the borrower and their accessibility to financing; with extra credit for deals demonstrating high quality execution, accessing new pools of liquidity, innovative structuring, and opening-up new markets.