Paul Hastings Wins Two “Deal of the Year” Awards at Latin Lawyer Deal of the Year Awards 2022
May 16, 2023
Paul Hastings LLP received two “Deal of the Year” awards at the 17th annual Latin Lawyer Deal of the Year Awards. The firm was recognized in the following categories:
Project Finance: Energy and Natural Resources: Innergex refinances Chilean renewables projects with proceeds from green bond offering
Paul Hastings advised the note purchasers and letter of credit providers in Innergex Renewable Energy’s US$803.1 million financing. The financing consisted of a US$710 million issuance of green bonds maturing in 2036 and a US$93.1 million letter of credit facility. The deal is among the largest private placements in Latin America in recent history. In addition to refinancing the portfolio’s debt, the financing provides capital for the construction of Innergex’s first battery energy storage project in Chile.
Restructuring: LATAM Airlines exits Chapter 11
Paul Hastings advised Banco del Estado de Chile in its capacity as indenture trustee under the Chilean Local Bonds Series A through D and Series E issued by LATAM Airlines Group S.A. in the aggregate amount of $490.5 million. LATAM voluntarily filed for chapter 11 protection in the United States Bankruptcy Court for the Southern District of New York in May 2020, and after an over two-year process, LATAM emerged from bankruptcy in November 2022 with over $2.2 billion of liquidity and removed nearly $3.6 billion of debt on its balance sheet.
The annual Latin Lawyer Awards identify landmark Latin American deals and cases across eleven categories, noting the achievements of practitioners in areas such as law firm leadership, diversity, and pro bono, as well as those who have dedicated their careers to the advancement of the profession.
About Paul Hastings
With widely recognized elite teams in finance, mergers & acquisitions, private equity, restructuring and special situations, litigation, employment, and real estate, Paul Hastings is a premier law firm providing intellectual capital and superior execution globally to the world’s leading investment banks, asset managers, and corporations.