Chadbourne’s Latin America team has been privileged to work in virtually every country in Latin America across a broad array of disciplines. Our lawyers are fluent in Spanish and/or Portuguese, and many are admitted to practice in more than one jurisdiction. We combine our lawyers' local experience with the support of our 10 international offices to provide seamless global service. Our forward-thinking approach has contributed to the growth of our practice as Latin American economies continue to expand and develop.
Chadbourne is consistently ranked among the leading law firms practicing in Latin America by Chambers Latin America and The Legal 500 Latin America for its work across multiple practice areas, including corporate/M&A, capital markets, banking and finance, projects, energy and natural resources and insurance.
Chadbourne Advises Enersis on Novel SEC-Registered Double Spin-Off
Enersis Américas S.A. and subsidiary Empresa Nacional de Electricidad S.A. (known as Endesa Chile), completed a novel SEC-registered double spin-off, involving two simultaneous public distributions of shares and American Depositary Receipts As a result of the spin-offs, Enel SpA, an Italian energy company and the ultimate controlling stockholder of Enersis Américas before the spin-offs, now owns controlling interests in four NYSE-listed public companies: Enersis Américas, Endesa Américas, Enersis Chile and Endesa Chile. Enersis Américas also completed a spin-off in Chile of Chilectra Américas, which was formed to hold its non-Chilean electric distribution assets. Chilectra Américas' shares are not listed for trading outside Chile.
Line 2 of the Lima Metro project
Chadbourne is representing the lenders, underwriters and other financial intermediaries in connection with the financing of Line 2 of the Lima Metro project in Peru. The financing consists of a revolving credit facility to serve as a bridge loan, as well as the issuance of project bonds which monetize the stream of payments to be made to the Concessionaire for investments in the Project by the Republic of Peru, acting through the Ministry of Transportation, in the form of equal installments over a certain period. In addition, the financing will include an IDB secured loan. This transaction was named the 2015 "PPP Deal of the Year (Americas)" by Project Finance International, the 2015 "Latin American Multi-Source Financing Deal of the Year" by IJGlobal and the 2015 "Deal of the Year" by Trade Finance.
YPF S.A. in Largest Corporate Bond Offering in Argentine History
Chadbourne represented YPF S.A., Argentina’s largest oil and gas company, in a landmark US$1.5 billion global bond offering, the largest issuance of corporate bonds in Argentina’s history. YPF placed the 10-year bonds at 8.5 percent, and the notes were sold in reliance on Rule 144A and Regulation S under the US Securities Act of 1933.
“Deal of the Year: Equity Follow-On”: Chadbourne Represents Enersis in US$6 Billion Capital Increase, the Largest in Chilean History
Chadbourne represented Enersis S.A., a Chilean electric utility company with operations in Chile, Brazil, Colombia, Peru and Argentina, in its recently completed US$6 billion capital increase, the largest in Chilean history. Enersis is part of a group of companies controlled by Enel S.p.A., an Italian utility company. Enel owns approximately 92% of Endesa S.A., a Spanish electricity generation and distribution company that owns approximately 60% of Enersis. Enersis American Depositary Shares (ADSs) are listed and traded on the New York Stock Exchange.
“Best Bond Deal of the Year": Chadbourne Represents Sponsors in First International Greenfield Project Bond Offering in Latin America
Chadbourne represented Grupo Cobra and Grupo Terra as sponsors in connection with the international offering of US$132.8 million in partially guaranteed senior secured variable funding notes to finance the greenfield construction of the 223 MW cold reserve Eten power plant in Peru. The notes represent the first international greenfield project bond offering in Latin America and are guaranteed through maturity by a partial credit guaranty provided by Corporacion Andino de Fomento (CAF) for up to 20% of the amount of the notes. The arrangers of the financing were BTG Pactual and CAF. The notes were issued on December 5, 2013 and rated BBB- by each of S&P and Fitch. This deal was awarded the “Best Bond Deal of the Year 2013” by LatinFinance 2014, “Latin America Project Bond of the Year 2013” and “Overall Latin American Deal of the Year 2013” by Project Finance magazine 2014 and “Project Finance Deal of the Year 2013” by IFLR 2014.
“South America M&A Middle Market Deal of the Year”: Chadbourne Represents Southern Cross Latin America Private Equity Fund in US$122.5 Million Acquisition
Chadbourne represented Southern Cross Latin America Private Equity Fund IV, L.P. (Southern Cross) in connection with the acquisition of San Antonio Internacional Co. Inc. (SAI) by Estrella International Energy Services Ltd. (Estrella), and related acquisition financing. Estrella is a group of companies engaged in providing services to the petroleum, mining and geothermal industries in Latin America and its controlling shareholder is Ringo Holding L.P. (Ringo), which is an affiliate of Southern Cross. Chadbourne received the “South American Deal of the Year – Middle Market” Atlas Award from the Global M&A Network for our work on this matter.
“Best Deal”: New Zealand Farming Systems Uruguay Letter of Credit Issuance Facility
Chadbourne represented ING Bank N.V. with respect to a US$125 million structured letter of credit facility for Uruguayan subsidiaries of New Zealand Farming Systems Uruguay Limited guaranteed by its parent Olam International Limited. This deal was awarded “Best Deal 2013” by GTR magazine.
“Latin America Structured Financing Deal of the Quarter Century”: Aeropuertos Argentina 2000 S.A. Bond Offering
Chadbourne represented Argentine airport concessionaire Aeropuertos Argentina 2000 S.A. (AA2000) in a US$300 million bond offering, marking one of only a handful of debt offerings by an Argentine company this year. This deal was awarded “Latin America Structured Financing Deal of the Quarter Century” by LatinFinance.
Allen Miller is the head of Chadbourne’s corporate department. Mr. Miller advises public and private companies, private equity funds, hedge funds and other institutions on a broad spectrum of matters, including mergers, acquisitions, investments, joint ventures, securities law matters, capital...
Talbert Navia is co-head of the Latin America practice and head of the private funds group. Talbert has extensive experience representing US and Latin America-based corporate and private equity clients in a broad range of areas, including public-private partnerships, mergers and acquisitions,...