White & Case wins “Team of the Year: Loans,” “National Firm of the Year: Mexico: Corporate” and four “Deal of the Year” awards at IFLR Americas Awards

Global law firm White & Case LLP was named "Team of the Year: Loans" and "National Firm of the Year: Mexico: Corporate" at the 2025 IFLR Americas Awards.

The Firm also advised on the following four "Deal of the Year" awards:

• Debt and equity-linked: Republic of El Salvador debt-for-nature conversion

  White & Case advised the Republic of El Salvador on the world's largest debt-for-nature conversion for river conservation and the world's largest debt-for-nature conversion in terms of funding commitments for conservation.

  The conversion comprises El Salvador's issuance of US$1 billion 20-year impact notes to a special purpose vehicle, and the concurrent tender offer of a portion of its outstanding notes using the proceeds of the new impact notes. As a result, El Salvador was able to refinance more than US$1 billion of its outstanding notes and generate an expected US$352 million in lifetime savings through a combination of immediate notional debt savings and material reductions in debt service costs.

• Energy: MIP Iberdrola power portfolio acquisition financing

  White & Case advised Banco Nacional de Obras y Servicios Públicos, Sociedad Nacional de Crédito, Institución de Banca de Desarrollo (Banobras) and Fondo Nacional de Infraestructura (FONADIN) on the approximately US$6 billion acquisition financing of a portfolio of 13 power plants, with an aggregate capacity of 8,500 MWs. An acquisition trust managed by Mexico Infrastructure Partners acquired the plants from Iberdrola.

• M&A: Grupo Calleja/Grupo Éxito

  White & Case advised French retail conglomerate Casino Group and its subsidiary, Brazilian food retailer Grupo Pão de Açúcar (GPA), on the sale of their combined 47 percent stake in Grupo Éxito, a leading retailer in South America, to El Salvador–based food retailer Grupo Calleja, for an aggregate amount of approximately US$550 million.

• Restructuring: Light Group

  White & Case advised Light S.A. (en recuperação judicial), the parent entity of one of the largest electric power companies in Brazil, on restructuring its business and debt through a judicial reorganization (recuperação judicial). After the recuperação judicial was granted, White & Case advised the Light Group in discussions with its key stakeholders on agreeing to a financial restructuring that provides a long-term solution to the group's key financial challenges. White & Case also assisted Light S.A. with implementing the financial restructuring through a parallel scheme of arrangement in the English court and Chapter 15 proceedings in the US.

  Justin Wagstaff, a partner and Head of the Americas Debt Finance section, said: "We're honored to have received the "Team of the Year: Loans" award. Our strong commitment to delivering excellent client service, combined with our cross-practice strength and deep industry knowledge, have enabled us to achieve exceptional results for our clients. This recognition highlights our leading role in shaping some of the region's most innovative and impactful transactions. We're grateful to our clients and our team for making this another remarkable year."

  Francisco de Rosenzweig, Executive Partner of the Firm's Mexico City office and Head of the Mexico office's Energy, Infrastructure, Project and Asset Finance Group, stated: "We're thrilled to have been named "National Firm of the Year: Mexico: Corporate." This award highlights the strength of our practice and our consistent success in advising clients on their complex deals and projects in Mexico."

  Christian Hansen, partner and Head of the Latin America Practice Group, said: "We're honored to have received four Deal of the Year awards. These awards affirm our team's consistent excellence and the high-caliber work we deliver throughout the region. We're privileged to advise clients at the forefront of the industry on their most complex projects, which require tailored, strategic legal guidance."