Global law firm White & Case LLP has won three 2024 LatinFinance "Deals of the Year" awards and received one "Honorable Mention" award. The awards recognize "stand-out transactions in Latin America and the Caribbean."
The Firm's winning matters are:
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Domestic M&A Deal of the Year: Mexico Infrastructure Partners US$6.2 billion power portfolio acquisition financing
White & Case advised Banco Nacional de Obras y Servicios Públicos, Sociedad Nacional de Crédito, Institución de Banca de Desarrollo (Banobras) and Fondo Nacional de Infraestructura (FONADIN) on the approximately US$6 billion acquisition financing of a portfolio of 13 power plants, with an aggregate capacity of 8,500 MWs. An acquisition trust managed by Mexico Infrastructure Partners acquired the plants from Iberdrola.
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Equity Follow-On of the Year: SABESP US$2.7 billion privatization follow-on offering
White & Case advised a syndicate of international underwriters and placement agents on the R$14.8 billion (US$2.7 billion) equity offering of Companhia de Saneamento Básico do Estado de São Paulo (SABESP), one of the world's largest water and sewage providers. This is the largest privatization in Brazil and the largest equity offering in Latin America in 2024.
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Sovereign Restructuring of the Year: Suriname US$1.5 billion debt restructuring
White & Case advised the Republic of Suriname on the successful restructuring of the country's international bonds, totaling US$675 million (or US$912 million, including accrued interest), as part of the comprehensive restructuring of the country's external debt totaling approximately US$1.5 billion.
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Honorable Mention: Eletrobras US$750 million 2035 bond
White & Case advised the joint bookrunners on the issuance of US$750 million 6.500% notes due 2035 by Centrais Elétricas Brasileiras S.A. – Eletrobras. This is the first transaction under Brazil's Law 14,801/24, which establishes incentivized bonds as a financing mechanism for infrastructure projects and provides tax incentives to attract foreign investment in Brazil's infrastructure sector. The law was enacted in early 2024.
Christian Hansen, partner and head of the Latin America Practice Group, said: "We are honored that LatinFinance has recognized four of our significant deals in 2024. These awards highlight our market-leading position in advising on complex capital markets, M&A and financial restructuring matters in the region, and underscore our cross-border capabilities. A sincere thank you to our clients and the White & Case Latin America team for another outstanding year."
