Paul Hastings Recognized for Corporate High-Yield Bond of the Year by LatinFinance
January 31, 2023
Paul Hastings LLP received the “Corporate High-Yield Bond of the Year” award at LatinFinance’s 2022 Deals of the Year Awards for its representation of Braskem Idesa, S.A.P.I., the largest polyethylene producer in Mexico, in connection with its oversubscribed offering of sustainability-linked $1.2 billion 6.99% senior notes due 2032. The bonds are tied to Braskem Idesa’s goal to reduce its greenhouse gas emissions by 15% by the end of 2028. The proceeds from these bonds, along with a $150 million term loan facility, allowed Braskem Idesa to fully prepay its remaining $1.35 billion in project finance loans incurred to construct Braskem Idesa’s Etileno XXI petrochemical complex in Nanchital, Veracruz, Mexico.
LatinFinance’s Deals of the Year Awards recognize the outstanding contributions of institutions that work on complex transactions in the capital markets of Latin America and the Caribbean.