2022 Bonds & Loans Latin America & Caribbean Award Winners Announced

Following a rigorous selection process, GFC Media Group has announced the winners of this year’s Bonds & Loans Latin America & Caribbean awards. The ceremony took place November 30^th at The Ritz-Carlton Coconut Grove in Miami, Florida.

This year there are 35 winners across five awards categories: Bonds & Loans Lifetime Achievement, Deal of the Year, Bank, Borrower & Legal.

Since 2015, the Bonds & Loans Awards have been recognizing the year’s most innovative and ground-breaking deals from Sovereign, Corporate and Financial Institution issuers and borrowers.

The 2023 Bonds & Loans event will take place November 27^th & 28^th at The Ritz-Carlton Key Biscayne, Miami

Bringing together the industry’s highest profile figures, the Bonds & Loans Latin America & Caribbean awards are an opportunity to raise the profile of the financial markets with the international investment community, and to inspire future issuance by companies.

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 those deals demonstrating high quality execution, accessing new pools of liquidity, innovative structuring, and opening-up new markets.

GFC Media says that this year’s winners are a testament to the leadership demonstrated by Latin America and The Caribbean’s finance and investment community, which has successfully navigated through a ground-breaking year.

Presentation of the awards took place after the second day of the Bonds & Loans Latin America & Caribbean event, on November 2022 at The Ritz-Carlton Coconut Grove, Miami.

2022 AWARD WINNERS:

Bonds & Loans Lifetime Achievement Award:

• Carlos Garcia Moreno, Chief Financial Officer, America Movil

Sovereign Bond Deal of the Year:

• The Republic of Chile
• USD 2bn SEC Registered Sustainability-Linked Bond at 4.340%
• Issued: March 2022; Matures: March 2042
• JLMs/Bookrunners: BNP Paribas, Credit Agricole CIB, Societe Generale
• Legal Advisers to Issuer: Linklaters, Morales & Besa
• Legal Adviser to the JLMs: Cleary Gottlieb, Garrigues

Agency Bond Deal of the Year:

• CABEI
• MXN 5bn Floating Rate Notes at 3.98%
• Issued: June 2021; Matures: June 2024
• JLMs/Bookrunners: BBVA, HSBC
• Legal Advisers to Issuer: Shearman & Sterling, Ritch Mueller

Investment Grade Corporate Bond Deal of the Year:

• Sitios (America Movil)
• USD 1bn 144a/RegS Senior Unsecured Bond at 5.375%
• Issued: March 2022; Matures: April 2032
• Global Coordinators: Citi, JPMorgan
• JLMs/Bookrunners: Citi, Barclays, BBVA, BofA Securities, JP Morgan, Scotiabank
• Legal Advisers to Issuer: Cleary Gottlieb, Bufete Robles Miaja
• Legal Adviser to the JLMs: Ritch Mueller, Simpson Thacher & Bartlett

High Yield Corporate Bond Deal of the Year:

• Comunicaciones Celulares S.A. (Millicom, Comcel)
• USD 900m 144a/RegS 10NC5 Senior Secured Guaranteed Notes at 5.125% to finance Millicom’s acquisition of the remaining 45% equity stake in Comcel
• Issued: January 2022; Matures: January 2032
• Global Coordinators: Goldman Sachs, JP Morgan
• JLMs/Bookrunners: Goldman Sachs, JP Morgan, Scotiabank
• Legal Advisers to Issuer: Davis Polk & Wardwell, Consortium Legal
• Legal Adviser to the JLMs: Milbank, Cuestas PPQ

Hybrid Bond Deal of the Year:

• CEMEX
• USD 1bn 144a/RegS Hybrid Perpetual NC5.25 Notes at 5.125%
• Issued: June 2021; Matures: PerpNC5.25
• JLMs/Bookrunners: Citi, BofA Securities, HSBC
• Legal Advisers to Issuer: Skadden
• Legal Adviser to the JLMs: Cleary Gottlieb

Sovereign Liability Management Deal of the Year:

• The Dominican Republic
• DOP 110bn 144a/RegS (with permanent restrictions and concurrently offered via local auction) Senior Unsecured Dual-tranche Bonds at 8.0% and 8.625%
• Issued: June 2021; Matures: June 2028 and 2031
• JLMs/Bookrunners: Citi, JP Morgan
• Legal Advisers to Issuer: Cleary Gottlieb
• Legal Adviser to the JLMs: Simpson Thacher & Bartlett

Corporate Liability Management Deal of the Year:

• PEMEX
• USD 1bn 144a/RegS Bonds and USD 5.814bn Exchange/Tender Offer at 6.70%
• Issued: December 2021; Matures: February 2023
• Bookrunners: BofA Securities, Citi, Goldman Sachs, HSBC
• Legal Advisers to the Issuer: Cleary Gottlieb
• Legal Advisers to the Bookrunners: Shearman & Sterling, Ritch Mueller

Sovereign Restructuring Deal of the Year:

• The Republic of Belize
• USD 553m Blue Loan (USD364m Blue Loan used to retire USD553m Superbond with coupon of 3.0% at 55c to USD)
• Settled: September 2021
• Financial Adviser: Citi
• Legal Advisers to Issuer/Borrower: Sullivan & Cromwell
• Legal Adviser to the JLMs: David Polk

Corporate Restructuring Deal of the Year:

• Cinepolis
• USD 1.6bn MXN, USD, EUR, BRL and PEN Multi-Currency Debt Restructuring (Covenant Holiday and 2-Year Tenor Extension) and USD 200m New Term Loan Facility
• Settled: July 2021; Matures: July 2028
• Obligor’s Adviser: Lazard
• Lenders’ Advisor: FTI Consulting
• Legal Adviser to the Obligor: Skadden, Galicia
• Legal Advisers to the Lenders: Milbank, Creel García Cuellar

Syndicated Loan Deal of the Year:

• KKR (Project Alameda)
• USD 460m 4-tranche syndicated loan (USD 230m Term Loan, USD 140m Capex, USD 11m Revolving Credit, and USD 55m VAT Facilities) for the acquisition of 60% of Telefonica Chile’s Fiber Optic Network
• Issued: July 2021; Matures: July 2027
• Global Coordinators: Scotiabank, KKR Capital Markets
• Bookrunners: Scotiabank, KKR Capital Markets
• Legal Advisers to the Borrowers: Simpson Thacher & Barlett, CM Carey & Allende
• Legal Advisers to the Bookrunners: Allen & Overy, PPU

Mid-Cap Loan Deal of the Year:

• Lifemiles
• USD 400m Term Loan B
• Issued: August 2020; Matures: March 2026
• Bookrunners: Citi, Morgan Stanley

Leveraged Finance Deal of the Year:

• Mubadala Capital
• USD 1.8bn 144a/RegS Senior Secured Bonds at 7.25%
• Issued: July 2021; Matures: June 2031
• Global Coordinators and Bookrunners: Bradesco BBI, JPMorgan, HSBC, Societe Generale, Standard Chartered, UBS
• Bookrunners: Deutsche Bank
• Legal Advisers to Issuer: Skadden
• Legal Adviser to the JLMs: Milbank, Machado Meyer

Acquisition Finance Deal of the Year:

• Ecopetrol
• USD 3.8bn Bridge Loan for the Acquisition of ISA
• Issued: November 2021; Matures: November 2023
• Bookrunners: Citi, JPMorgan, Santander, Scotiabank
• Legal Advisers to the Borrower: Shearman & Sterling, Baker McKenzie
• Legal Advisers to the JLMs/Bookrunners: Milbank, Gomez Pinzon & Asociados

Project Finance Deal of the Year:

• Tocumen
• USD 1.855bn 144a/RegS Senior Secured Dual-Tranche Project Bond at 4.0% and 5.125%
• Issued: August 2021; Matures August 2041 and August 2061
• Bookrunners/JLMs: Citi, BofA Securities
• Legal Advisers to the Issuer: Shearman & Sterling, Icaza, González Ruiz & Alemán
• Legal Advisers to the JLMs: Milbank, Aleman Cordero Galindo & Lee

ESG Bond Deal of the Year:

• The Central America Bottling Corporation
• USD 1.1bn 144a/RegS Sustainability-Linked Bond at 5.25%
• Issued January 2022; Matures: April 2029
• Global Coordinators: Citi, JP Morgan
• JLMs/Bookrunners: Citi, JP Morgan
• Legal Advisers to Issuer: Hogan Lovells, Walkers, Palacios y Asociados
• Legal Adviser to the JLMs: Shearman & Sterling, Harney Westwood & Riegels, Atla Qil, Uria Menendez

ESG Loan Deal of the Year:

• CEMEX
• USD 3.25bn Sustainability-Linked Dual-tranche Credit Facility
• Issued: October 2021; Matures: October 2026
• Bookrunners: BNP Paribas, Banamex, Citi, BofA Securities, JP Morgan
• Legal Advisers to the Borrower: Skadden, GHR Rechtsanwalte
• Legal Adviser to the Bookrunners: Cleary Gottlieb, Galicia

BRL Deal of the Year:

• BNDES + VALE
• BRL 11.5bn 144a/RegS and ICVM 476 Senior Unsecured Dual-tranche Debenture
• Issued: April 2021
• Bookrunners: Bradesco, Citi, Itau BBA, JP Morgan
• Legal Advisers to the Issuer: Cleary Gottlieb Steen & Hamilton, Pinheiro Guimaraer Advogados
• Legal Adviser to the Bookrunners: Mattos Filho Veiga Filho Marrey Jr e Quiroga

MXN Deal of the Year:

• Grupo Aeroportuario del Centro Norte (OMA)
• MXN 5bn Dual Tranche 5-year Sustainability-Linked Floating Rate Note and 7-year Sustainability-Linked Fixed Rate Note at 6.87% and 9.35%
• Issued: March 2022; Matures: March 2027 and March 2029
• JLMs/Bookrunners: Citi, HSBC, Santander
• Legal Advisers to Issuer: Mijares, Angoitia, Cortés y Fuentes

COP Deal of the Year:

• Sacyr Concesiones
• USD798m 144s/RegS Project Bonds at 6.60% and Secured Loans
• Issued: February 2022; Matures: February 2041, May 2030, May 2037, April 2030
• Global Coordinators and Bookrunners: Goldman Sachs, JP Morgan
• Legal Advisers to Borrower/Sponsors: Clifford Chance, Posse Herrera
• Legal Adviser to the JLMs: Latham & Watkins, Philippi Prietocarrizosa, Perez Bustamante & Ponce, Uria Menendez

PEN Deal of the Year:

• Multimercados Zonales (Minka)
• PEN 135m Private Placement Securitisation Bonds at 7.969%
• Issued: November 2021; Matures: November 2041
• Bookrunner: Scotiabank
• Legal Adviser to the JLMs: Rodrigo Elias & Medrano

CLP Deal of the Year:

• Digital Bridge (Project Ocean)
• CLP 205bn Term Loan Facility for Digital Bridge’s acquisition of 100% stake of Pacífico Cable
• Issued: March 2022; Matures: March 2027
• Bookrunners: Scotiabank
• Legal Advisers to the Borrower: Vinson & Elkins, Carey
• Legal Advisers to the JLMs/Bookrunners: Allen & Overy, PPU

Bond House of the Year:

• JP Morgan

Loan House of the Year:

• Citi

Structured Finance Bank of the Year:

• Citi

Project Finance Bank of the Year:

• SMBC

ESG/Sustainable Finance Adviser of the Year:

• BNP Paribas

Brazilian Investment Bank of the Year:

• Itau BBA

Mexican Investment Bank of the Year:

• Santander

Andean Investment Bank of the Year:

• Scotiabank

Sovereign Funding Team of the Year:

• Ministry of Finance, Republic of Mexico

Corporate Funding Team of the Year:

• America Movil

Bank Funding Team of the Year:

• Corporación Andina de Fomento (CAF)

Banking & Finance Legal Adviser of the Year:

• Skadden

Debt Capital Markets Legal Adviser of the Year:

• Milbank