LatinFinance magazine named three transactions on which White & Case advised among its "Deals of the Year" in its 2017 LatinFinance Deals of the Year Awards, announced in the magazine's January/February 2018 issue.
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 2017 winners were selected by the LatinFinance editorial team through research on deals closed between October 1, 2016 and September 30, 2017.
The winning deals on which White & Case advised were:
Quasi-Sovereign Bond of the Year
White & Case led work for leading global financial institutions, as the joint bookrunners and the co-manager, in the inaugural cross-border debt security issuance by Petróleos del Perú-Petroperú S.A., the Peruvian government-owned oil & gas refining company. The company offered and sold US$2 billion in bonds—the largest-ever offering by a Peruvian issuer. The proceeds of the offering are intended to be used by Petroperú for a large-scale upgrade and modernization of the Talara Refinery, the country's key oil & gas infrastructure project.
Corporate High-Yield Bond of the Year
White & Case led work for the joint book-running managers in the US$500 million "green bond" offering by Klabin Finance, the Luxembourg subsidiary of Klabin. The proceeds were used to finance and/or refinance eligible green projects.
Cross-Border M&A Deal of the Year
White & Case led work for China Three Gorges Corporation (CTG), through its subsidiaries CTG International and CTG Brasil, in its agreement to purchase all of the equity interests in a subsidiary of Duke Energy Corporation (Duke Energy Brazil) that holds ten hydroelectric plants in Brazil for approximately US$1.2 billion in cash and the assumption of debt.