LatinFinance magazine named two transactions on which White & Case advised among its "Deals of the Year" in its 2021 LatinFinance Deals of the Year Awards, announced on February 8.
The Deals of the Year Awards "recognize this year's top transactions and success stories from Latin America and the Caribbean," according to LatinFinance.
The winning deals on which White & Case advised were:
Equity Follow-On of the Year – Banco Inter's US$950 Million Follow-On Offering
White & Case represented the placement agents in a Rule 144A/Regulation S equity follow-on offering by Banco Inter, for aggregate gross proceeds of R$5,410.4 million (US$949.6 million). The proceeds were used to implement the bank's business plan and accelerate its strategic initiatives through investment in new products and potentially strategic acquisitions.
Subnational Deal of the Year – Buenos Aires Restructuring
White & Case represented the Province of Buenos Aires in restructuring US$7.1 billion of external debt owed to private creditors. The terms provide Buenos Aires with substantial debt relief by way of a reprofiling of the current amortization schedule and reductions in interest rates, while preserving bondholder value.