Demarest and Simpson Thacher advise on Latam fundraising
Demarest Advogados advised Citibank, Santander, J.P. Morgan, Deutsche Bank and other creditors under Brazilian law on the offering of US$1.4 billion of secured debt securities in the international market by Chile-based airline Latam.
The bonds mature in 2023 at an annual interest rate of 7.875%.
The Chapter 11 procedure corresponds, in practice, to a multi-jurisdictional restructuring (according to the rules and legislation in several countries), which began in 2020 and ended in 2022.
Latam reported on its website that the transaction generated a lot of interest from investors with a demand of more than 5 times the value of the offer, from more than 250 global investors.
Demarest relied on partners Thiago Giantomassi (pictured left), Guilherme Fontes Bechara (pictured center-left); associates Fausto Muniz Miyazato Teixeira, Guilherme Inaba, Rubens Feche.
Simpson Thacher acted as US counsel to the underwriting banks. The deal was led by NY-based partners Juan Francisco Méndez (pictured center-right) and John C. Ericson (pictured right); associate Chris Flynn.
