Colorful colonial houses on a cobblestone street in Guatape, Antioquia in Colombia

Latham & Watkins Advises on Two Deals of the Year in Latin America

February 3, 2023
Firm recognized by LatinFinance for its work on the Financing Innovation of the Year and Corporate Restructuring of the Year.

Transactions on which Latham played an integral role have been awarded as 2022 LatinFinance Deals of the Year. The annual awards select “stand-out transactions and institutions in the capital markets of Latin America and the Caribbean” as determined by LatinFinance's editorial staff based on a rigorous selection process.

Deals the firm advised on were recognized in two categories:

  • Corporate Restructuring of the Year: Avianca US$1.1 billion Restructuring

Latham served as counsel to Colombian holding company Grupo Aval Acciones y Valores, Citibank, and GE Capital Aviation Services (now AerCap) in connection with Latin American airline Avianca’s restructuring, which settled several issues between the Avianca debtors and Grupo Aval on mutually beneficial terms. It involved a number of Grupo Aval affiliated entities located in several jurisdictions and required an understanding of a complex web of agreements, largely related to the financing of airline credit card receivables. 

Latham advised multiple parties on the multi-source financing for the construction, operation, and maintenance of approximately 83 km of toll roads in the Department of Nariño under Colombia’s 4G program. The financing was notable for several innovative features, including being the first to include a project-level letter of credit facility for a project in Colombia, the first local currency project bond investment by the IDB Group, and the largest-ever financing for a 4G project.

LatinFinance also recently recognized the firm with seven 2022 LatinFinance Project & Infrastructure Finance Awards, which honor the most impressive transactions and institutions crucial to the economic progress of Latin America.