Allen & Overy recognized by the Bonds & Loans Latin America Awards
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Publications: 23 November 2023
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Based in New York, São Paulo, Washington, D.C. and London, A&O’s Latin America team advise across a broad range of transaction types, including leveraged finance, project finance, trade and export finance, general banking, corporate/M&A, capital markets and international dispute resolution.
Bonds & Loans recognized the following deals for the 2023 awards:
High Yield Debt Deal of the Year: Liberty Costa Rica Financing
A&O advised IDB Invest on a USD450 million financing package to Liberty Costa Rica, a subsidiary of Liberty Latin America, to improve access to digital communications and to bolster telecom infrastructure across the Central American country. The proceeds of the transaction will be used to finance investments in fiber-to-the-home, to increase capabilities and speeds of the HFC (hybrid fiber-coaxial) network, for capital expenditures related to 4G/5G infrastructure, to refinance certain financial obligations and for working capital and general corporate purposes.
“We’re always looking for opportunities to advise on creative projects and financings in LatAm. Our experience in the region is a valuable asset for our clients and enables us to work on groundbreaking deals,” Sami Mir of Allen & Overy said.
The A&O deal team was led by Washington, D.C. based partner Sami Mir, and New York based partners Todd Koretzky and David Flechner. Additional support was provided by New York associates Sagarika Sridhar, Catalina Beccar Varela and Daniel Resnick, and São Paulo based associate David Birch.
CLP Deal of the Year: Infraco SpA’s acquisition of Entel’s fiber-optic network assets in Chile
A&O advised The Bank of Nova Scotia (BNS), Scotiabank Chile and Banco Santander, as mandated lead arrangers and joint bookrunners for a Chilean peso senior secured financing in connection with the acquisition by Infraco SpA of Empresa Nacional de Telecommunicaciones S.A.’s (Entel’s) fiber-optic network assets and related business operations in Chile. Infraco SpA is a joint venture formed in 2021 between the global private equity sponsor KKR & Co. and Spanish multinational Telefónica S.A. pursuant to a transaction in which Telefónica sold to KKR a 60% controlling stake in Telefónica’s existing open access digital fiber network (with A&O advising on the financing for that deal as well). Following the consummation of the acquisition from Entel, which is subject to approval by Chilean economic regulatory authorities, Infraco SpA’s fiber network is expected to provide telecommunications services to over 4.3 million homes in Chile by 2024.
We have led some of the most innovative and influential deals in Latin America, each contributing to advancements in the market. We appreciate our clients’ trust on such complex transactions, and are proud to join them in receiving these prestigious awards.
Todd Koretzky, Leveraged Finance partner, Allen & Overy
Bonds & Loans brings together the industry’s most high-profile figures for the Bonds & Loans Awards ceremony in Miami, which is designed to raise the profile of the financial markets with the international investment community, and to inspire future issuance by companies in the region.