Financing
Corporate and Securities

Financing

Acquisition and Bank Financing

• The Bank of Nova Scotia/RBTT Merchant Bank. We advised The Bank of Nova Scotia and RBTT Merchant Bank as lead arrangers in financing the $370 million tender offer and acquisition of the Caribbean regional operations of Courts plc by Regal Forest Holdings, a subsidiary of the Siman Group, in El Salvador. The acquired subsidiaries operate in Antigua, Barbados, Belize, Bermuda, Dominica, Grenada, Guyana, Jamaica, St. Kitts, St. Lucia, St. Vincent and Trinidad, and Tobago. The acquisition, one of the largest and most complex in the history of the Caribbean, was financed with a senior secured first-lien credit facility, a senior secured second-lien credit facility, and a payment-in-kind subordinated debt facility.
  
  
• Advent International.  We represented Bank of Nova Scotia, as global coordinator, joint lead arranger and joint bookrunner on a $350 million syndicated credit facility, the proceeds of which were used by an affiliate of Advent International to part finance its acquisition of Aeropuertos Dominicanos Siglo XXI, S.A. (Aerdodom).  This  was the first leveraged buyout in the Dominican Republic and was named ‘Latin American Private Equity Deal of the Year’ at the 2009 Project Finance Magazine awards.
  
  
• New World Networks. We represented The Bank of Nova Scotia in a $55 million senior secured credit facility to finance the acquisition of New World Networks, a Bermudan fiber optics company, by Columbus Communications, a Caribbean cable and fiber optics company.

Structured Financing, Securitization, and Derivatives

• National Commercial Bank of Jamaica. We advised Credit Suisse Securities as arranger and initial purchaser of $100 million of bonds secured by Dollar-denominated payment obligations relating to SWIFT MT 100 payment orders sold by National Commercial Bank of Jamaica Limited. This offering was the first securitization of remittances by a bank in the Caribbean.
  
  
• Banco Salvadoreño. We represented Wachovia Capital Markets LLC, as arranger and initial purchaser, in a US $100 million securitization of Dollar-denominated diversified payment rights.

Project and Lease Financing

• Panama Canal. We are acting as procurement counsel to the Panama Canal Authority (Autoridad del Canal de Panamá or “ACP”) for the planned Panama Canal expansion. This engagement consists of advising the ACP on its RFQ/bidding process, financial and legal aspects of bid contract terms, contract negotiation, and all related construction and project development matters for the $5.25 billion Panama Canal Expansion Program.
  
  
• Hidro Xacbal, S.A. We advised RBTT Merchant Bank, FMO and other lenders in a project financing for Hidro Xacbal, S.A. in its construction of a $227 million 94MW hydroelectric facility in Guatemala. This was the first project financing by RBTT in Central America and the largest hydroelectric project in Guatemala. This project was named "Best Power/Energy Deal, 2007" by Latin Finance.
  
  
• Digicel Jamaica. We represented RBTT Merchant Bank Limited, as arranger and lender, in a $15 million bank financing and $20 million bond offering by Mossel (Jamaica) Limited (Digicel) to finance the build-out of a wireless network in Jamaica.
  
  
• Trinidad & Tobago. We represented HSBC in the financing of the construction of a 64Mw dual fuel power plant on the Cove Industrial Estate in Tobago, by Wartsila Power Plants, on behalf of the Trinidad and Tobago Electricity Commission (T&TEC), Global Trade Review's Deal of the Year 2008

Back to top

Corporate and Securities

Securities

• Standard Bank. We represented Standard Bank as dealer manager in a $130 million tender offer by Cerveceria Nacional Dominicana, C. por A. to purchase its outstanding Senior Notes due 2013 and represented Standard Bank in financing part of the tender offer through Standard Bank plc’s credit-linked program. This transaction is the first major bond buyback via a tender offer to have taken place in the Dominican Republic and was named Corporate Liability Management Deal of the Year 2008 by Latin Finance.
  
  
• Corredor Sur Trust. We represented Merrill Lynch & Co. in a $150 million offering of notes by Corredor Sur Trust secured by tolls from Corredor Sur toll road and was named Latin American Refinancing Deal of the Year (2005).
  
  
• RBTT Financial Holdings Limited. We represented RBTT Financial Holdings Limited in a $100 million offering of Senior Notes. 
  
  
• Government of Aruba. We represented RBTT Bank Aruba N.V. and the Government of Aruba in a $67 million Eurobond offering by the Government of Aruba.
  
  
• Princess Juliana International Airport. We represented RBTT Merchant Bank Limited, as underwriter, and Princess Juliana International Airport Operating Company N.V., as issuer, in an $118,690,000 offering of Senior Secured Notes.
  
  
• Cap Cana. We  represented Weston International Capital Markets, Inc. as financial advisor to Cap Cana, the luxury resort in the Dominican Republic,  in an exchange offer of its outstanding 9.625% Senior Secured Notes due 2013 for up to $137 million aggregate principal amount of its 10% Senior Secured Notes due 2016 and up to $133.75 million aggregate principal amount of its 10% Senior Secured Recovery Notes due 2016.

Mergers and Acquisitions

• Grupo Colte. We represented Grupo Colte and Pegaso Television in multiple investments by Grupo Colte, Pegaso Television, TeleCapital Associates, LP and TeleCinco Gestévision S.A. into CaribeVision Holding, Inc. and CaribeVision TV Network LLC, owners and operators of a Spanish-language TV network.

• Dell Inc. We represented Dell Inc. in the sale of its El Salvador contact center operations to Stream Global Services, Inc., a leading provider of integrated business process outsourcing services.

• Aliaxis S.A.  We represented Aliaxis S.A. in a tender offer for all of the shares of Durman Esquivel, a Costa Rican company with operations in Latin America and the Caribbean.