Milbank LLP is pleased to announce that the firm was recognized as “Project Finance Legal Advisor of the Year” at the Global Banking & Markets: Latin America Awards 2024. The annual awards, formerly the Bonds, Loans & ESG Capital Markets Awards, recognize the most innovative and groundbreaking deals from sovereign, corporate and financial institution issuers and borrowers.
“We thank our clients, who are at the forefront of cutting-edge transactions in Latin America, for trusting us with their most important transactions and look forward to continuing to work closely together in 2025 and beyond,” said Jaime Ramirez, co-head of Milbank’s Latin America Practice Group.
Ten Milbank transactions were also awarded “Deal of the Year” recognitions across a range of categories, including Debt, Real Estate Finance, Structured Bond, Natural Resources Finance, Energy Transition, Oil & Gas, Debut Corporate Bond, Project Finance Loan and Water & Utilities. “These awards are a testament to the breadth and depth of our team’s outstanding work in the region and the landmark matters we continue to advise our clients on,” said Marcelo Mottesi, chair of Milbank’s Corporate Finance and Securities practice and co-head of the firm’s Latin America Group.
“We are honored to receive this recognition, which highlights our team’s leading role advising clients on their most complex, market-setting transactions, as well as our continued commitment to the Latin America region,” added Dan Bartfeld, chair of the firm’s Global Project, Energy and Infrastructure Finance Group.
The award-winning transactions include:
- Water & Utilities Deal of the Year – Aegea $500 Million Sustainability-linked Issuance: Advised the initial purchasers in connection with the Rule 144A/Regulation S offering of $500 million 9.000% sustainable and sustainability-linked senior notes due 2031 by Aegea S.A., one of Brazil’s largest private sanitation companies.
- M&A Loan Deal of the Year - Mexico Infrastructure Partners: Advised a syndicate of commercial banks and Mexican development banks NAFIN and Bancomext as lenders in connection with the acquisition financing of 13 Mexican power plants from Spanish energy group Iberdrola for approximately $6 billion (MX$102.34 billion) by an acquisition trust managed by Mexico Infrastructure Partners FF.
- Project Finance Loan Deal of the Year - Minera Centinela: Advised the financing sources in connection with the $1.5 billion financing for the acquisition, construction, operation and transfer of two seawater pipeline assets for Minera Centinela.
- Debut Corporate Bond Deal of the Year - 3R Petroleum e Participações $500 Million Bond: Advised 3R Petroleum and its subsidiary 3R Lux in connection with the inaugural offering of $500 million 9.750% senior secured notes due 2031, based on Rule 144A/Regulation S. This was the first inaugural high yield bond offering by a Brazilian company since 2022.
- Oil & Gas Deal of the Year - Pluspetrol $500 Million Senior Unsecured Notes: Advised the initial purchasers in connection with the inaugural bond offering of Peruvian natural gas companies Pluspetrol Camisea S.A. and Pluspetrol Lote 56 S.A., as co-issuers, in a transaction pursuant to Rule 144A/Regulation S.
- Energy Transition Deal of the Year - Sonnedix Chile Arcadia Refinancing & Acquisition: Advised the lenders in connection with the refinancing of a credit facility entered into by Atacama Solar SpA, and the acquisition of a solar PV portfolio from Enel Chile S.A. and Enel SpA by Sonnedix Chile Arcadia Generación SpA.
- Natural Resources Finance Deal of the Year - Minera Centinela: Advised the financing sources in connection with the $1.5 billion financing for the acquisition, construction, operation and transfer of two seawater pipeline assets for Minera Centinela.
- Structured Bond Deal of the Year - Aeropuertos Dominicanos del Siglo XXI: Advised the lenders and underwriters in connection with a $500 million bond financing and related $440 million loan extended to Aeropuertos Dominicanos Siglo XXI, S.A. (Aerodom), a subsidiary of VINCI Airports S.A.S., in connection with the operation and expansion of airports in the Dominican Republic.
- Real Estate Finance Deal of the Year - Cibanco, Institución De Banca Múltiple (Fibra Soma) $375 Million & MX$4 Billion: Advised the joint lead arrangers and joint bookrunners in connection with the granting of a dual currency senior unsecured term loan and revolving credit facility in favor of CIBanco, S.A., Institución de Banca Múltiple, in its capacity as trustee under Trust no. CIB/3332 (Fibra SOMA, a leading publicly traded Mexican real estate investment trust).
- Debt Deal of the Year, Peru - Solarpack Perú Term Loan + Letter of Credit: Advised the lenders in connection with a $176.6 million senior green loan financing for Solarpack’s San Martin solar PV plant in Peru, currently the largest solar plant in Peru’s history.
- Debt Deal of the Year, Argentina - YPF $800 Million Senior Secured Notes: Advised the initial purchasers in connection with the offering by YPF Sociedad Anónima, of $800 million aggregate principal amount of 9.500% senior secured notes due 2031. The notes were secured by export receivables of YPF, and marks YPF’s return to the international bond market since 2017.
Milbank’s Latin America practice seamlessly supports clients in a variety of corporate/M&A transactions, project and structured financings and capital markets matters. With immense knowledge of the region’s business environment, laws and regulations, the Latin America team has handled some of the most prominent and high-profile transactions in the region.
Additional information on the awards ceremony is available here.
