Two Simpson Thacher & Bartlett LLP offices and Pérez-Llorca (Colombia) have helped national flag carrier airline Avianca reopen existing notes by making a new US$150 million issuance.
Philippi Prietocarrizosa Ferrero DU & Uría (Colombia) advised the lenders.
Latin Lawyer understands that international firm Davis Polk & Wardwell LLP also assisted the banks but could not confirm this before publishing.
The deal closed on 28 January.
In the deal, Avianca reopens its US$600 million notes that it issued earlier last month.
The airline will use the proceeds to repay existing debt and for general corporate purposes.
Latin America’s aviation sector has seen a flurry of capital markets activity recently. This month, Pinheiro Neto Advogados in São Paulo advised Brazilian airline Azul on its US$1.4 billion notes offering to fund its exit from Chapter 11 restructuring, while Brazil’s TozziniFreire Advogados represented the banks. Also in February, international firm Cleary Gottlieb Steen & Hamilton LLP, Machado Meyer Advogados in São Paulo and Chile’s Claro & Cía assisted LATAM Airlines in a US$743 million secondary offering initiated by US shareholder Sixth Street Partners, with Simpson Thacher, Brazil’s Demarest Advogados and Morales & Besa in Santiago helping the underwriter.
Counsel to Citigroup Global Markets, Deutsche Bank Securities, JP Morgan Securities, Barclays Capital, Morgan Stanley, Crédit Agricole Securities, Goldman Sachs, and BNP Paribas
Philippi Prietocarrizosa Ferrero DU & Uría (Colombia)
Partner Hernando Padilla and associates Ximena Gonzalez, Luis Torres, Neider Londoño, Manuela Arenas and Juan Camilo Pachón in Bogotá
