| |
|
|
 |
|
Restructuring |
|
| Mayer Brown is active in representing companies, creditors and financial advisors in debt restructuring and liability management transactions. As financing conditions in the international capital and bank markets remain uncertain, an increasing number of companies have been required to restructure their debt.
Past restructuring engagements have included:
- AES Tietê
. Represented the secured bondholders to AES Tietê Holdings Ltd., the holding company for AES Tietê, a Brazilian hydroelectric generator, in the restructuring of approximately $300 million of bond debt.
- Ajegroup
. Represented Bear Stearns as financial advisor and lender to Ajegroup in a corporate restructuring and recapitalization transaction of the second largest bottling company in Mexico. The transaction was designed to position Ajegroup so that it can raise additional debt and equity finance in the US capital markets.
- Banco Galicia
. Represented the unsecured lenders to Banco de Galicia y Buenos Aires, Argentina’s largest private bank, in the restructuring of approximately $1.5 billion of debt of Banco Galicia.
- Bombril
. Represented Bombril S.A., the largest Brazilian manufacturer of household products, in a restructuring of its €100 million Notes due 2007.
- Central Puerto. Represented the Export-Import Bank of the United States in connection with the successful restructuring of the approximately $320 million Senior Secured Debt of Central Puerto, S.A. This was one of the only successful restructurings of electricity generator debt following the Argentine fiscal crisis and subsequent material changes in the regulatory scheme applicable to electrical power generation and distribution in Argentina.
- Corporación Durango, S.A. de C.V.
Represented the unsecured bank creditors of Corporación Durango, S.A. de C.V., Mexico’s largest pulp/paper company, in its debt restructuring, which was the first “prepack” restructuring under Mexico’s concurso mercantil law.
- DirecTV Latin America
. Represented DirecTV Latin America in a financial restructuring under Chapter 11 of the United States Bankruptcy Code before the United States Bankruptcy Court for the District of Delaware.
- Embratel
. Represented Empresa Brasileira de Telecomunicações S.A. (Embratel) in the restructuring of more than $1 billion of debt.
- Grupo Minero Mexico
. Represented the unsecured creditors of Grupo Minero Mexico, Mexico’s largest mining company, in the restructuring of more than $1 billion of GMM debt.
- Light. Represented Light Serviços de Eletricidade S.A. (“Light”) and its wholly-owned subsidiary, LIR Energy Limited, in a consent solicitation relating to two series of Eurobonds, aggregating $300 million, guaranteed by Light, in connection with a reorganization of ownership by Light’s shareholders.
- Tevecap
. Represented Tevecap S.A. and its wholly-owned subsidiary, TVA Communications Ltd., in a tender offer and consent solicitation in connection with Tevecap’s $250 million High-yield Bonds due 2004.
|
|
|
|
|
|
