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Morgan Stanley and Deutsche Bank Underwrite First SEC Registered Equity in Latin America for 2015

November 16, 2015

New York, NY – Paul Hastings LLP, a leading global law firm, represented Morgan Stanley and Deutsche Bank as the lead underwriters in connection with a follow-on secondary offering of Mexican low-cost airline Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (“Volaris”). The $175 million offering involved an issuance of Ordinary Participation Certificates in the form of American Depositary Shares in the U.S. and other countries outside of Mexico.  The ADSs are registered with the SEC and are listed on the New York Stock Exchange.  The underwriters also exercised the over-allotment option which closed concurrently with the offering.  The offering is believed to be the only SEC registered equity offering by a Latin American issuer this year.

Paul Hastings also represented the underwriters in Volaris’s initial public offering in 2013.

Latin America practice partners Mike Fitzgerald and Arturo Carrillo led the Paul Hastings team, which also included counsel Steven Sandretto, associate Eduardo Gonzalez and foreign associate Gerardo Guajardo-Andrade.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative