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17 May 20233 minute read

DLA Piper awarded Latin Lawyer’s 2023 “Deal of the Year” in two categories

DLA Piper has received two Latin Lawyer’s 2023 “Deal of the Year” awards in the categories of Project Finance: Energy and Natural Resources and Restructuring. The awards were announced at Latin Lawyer’s 17th annual Deal of the Year ceremony on May 11.

The firm was recognized in the Project Finance: Energy and Natural Resources category for its representation of Innergex Renewable Energy Inc. in the US$803.1 million refinancing of its portfolio of assets in Chile. This transaction has been previously recognized by B2B market intelligence provider Proximo as the 2022 Latin America Bond Deal of the Year, by Project Finance International as Americas Power Deal of the Year 2022 and by IJ Global Americas Award as Deal of the Year Refinance – Portfolio – Latin America 2022, among other several awards.

The team that represented Innergex included partners Mauricio Halpern and Marco Salgado (Chile) and Margarita Oliva Sainz de Aja and Christopher Paci (New York).

DLA Piper was recognized in the Restructuring category for the advice provided in the exit financing of LATAM Airlines from Chapter 11 of the Bankruptcy Code at the US Bankruptcy Court for the Southern District of New York.

DLA Piper advised JP Morgan and Goldman Sachs in the execution of the Amended and Restated Super-Priority Debtor-in-Possession Term Loan Agreement with LATAM Airlines Group S.A. and other group entities. Under the A&R DIP Financing, refinancing of up to US$3.7 billion was made available to LATAM in two tranches, A and C, with JPMorgan and other lenders providing Tranche A for up to US$2.05 billion.

Previously, DLA Piper also advised Oaktree Capital Management as lender for the Super-Priority Debtor-in-Possession Term Loan Agreement by which LATAM Airlines continue operating and managing their business after having filed a voluntary petition for relief under Chapter 11.

The team that advised JP Morgan, Goldman Sachs and Oaktree Capital Management included DLA Piper in Chile partners Mauricio Halpern, Matías Zegers and Rodrigo Alvarez and associates Hugo Molina and María Isabel Izquierdo; DLA Piper Martínez Beltrán (Colombia) partners Nicolás Polanía, Camilo Martínez Beltrán, María Claudia Martínez and Sergio Rojas and associates Natalia Fernández and Ana Sofía Payán; DLA Piper in Peru partners Ricardo Escobar and associates Reyna Silva-Santisteban and Ricardo Mercado and DLA Piper in Argentina partner Antonio Arias and Julio Kelly.

“These awards recognize the value of our integrated approach, which combines local knowledge with the resources of the DLA Piper global platform to provide the best outcome for our clients in the most complex cross-border matters related to Latin America,” said Francisco Cerezo, chair of DLA Piper’s US-Latin America practice.

DLA Piper Latin America's team offers full-service business legal counsel to domestic and multinational companies with interests in and operations throughout the region. Our integrated approach to serving clients combines local knowledge with the resources of the DLA Piper global platform. With over 450 lawyers practicing throughout Argentina, Brazil, Colombia, Chile, Mexico, Peru, and Puerto Rico, our teams frequently work with our professionals throughout the LatAm region, Iberian Peninsula and around the globe to ensure our clients receive the depth of service they require to meet their legal and business objectives.