Machado Meyer and Demarest act on LATAM Airlines’ bond issue
Machado Meyer advised LATAM Airlines Group on the issuance of a secured note in the amount of US$ 800 million in the international market. The transaction is part of the refinancing process of the debts incurred by the group during its judicial restructuring in the United States under Chapter 11. Demarest advised the underwriters on Brazilian legal matters.
The banks involved were Goldman Sachs & Co. LLC, Deutsche Bank Securities, Santander, Barclays, BNP Paribas, Citigroup, J.P. Morgan, MUFG Securities and Natixis Securities.
Proceeds from the offering will be used to fully redeem notes maturing in 2029 and for general corporate purposes. The new notes are secured by guarantees granted by LATAM group entities across multiple jurisdictions.
Machado Meyer relied on partner Camilo Torres Gerosa Gomes and Fabio Falkenburger, partner Gustavo Rugani (pictured top from left to right), lawyers Carlo Verri, Eduardo Gouvea Cristelo, Izadora Figueiroa Mastrangelli and Pedro Luis Federico Amim.
Demarest relied on partners Guilherme Fontes Bechara (pictured bottom left) and Luiz Felipe Eustaquio (pictured bottom right), with support from associates Fausto Muniz Miyazato Teixeira, Guilherme Inaba and Paola Libermani.
Cescon Barrieu acted as local advisor to the Brazilian security agent TMF and relied on partner Dimitrios Constantelos and intern João Pedro Gaspar.
The transaction also involved several international law firms, including Simpson Thacher & Bartlett LLP, Cleary Gottlieb Steen & Hamilton LLP, Morales & Besa and Claro & Cía, advising on legal aspects in the U.S., Chile, Colombia and Peru.
