Jorge U. Juantorena

United Mexican States in several international capital markets transactions, including in over $70 billion and €10 billion in bond offerings and liability management transactions, including its $12 billion offering of precapitalized securities (P-Caps) issued by an SPV sponsored by the sovereign designed to support Pemex, representing the first ever P-Caps transaction involving a sovereign.

The underwriters, initial purchasers, and dealer managers of the Republic of Chile in 15 debt capital markets transactions, including new money offerings, exchange offers, and tender offers denominated in U.S. dollars, euros, Chilean pesos and Unidades de Fomento, resulting in over $20 billion of new debt.

The Republic of Costa Rica and its initial purchasers in multiple Rule 144A/Reg S bond offerings amounting to $3 billion.

The Republic of Guatemala and its underwriters in several Rule 144A/Reg S bond offerings amounting to over $2 billion.

Issuers and underwriters in several IPOs and follow-on equity offerings, including:

• LATAM Airlines Group in the $460 million SEC-registered re-IPO and relisting of its ADSs, marking its return to the NYSE, and two subsequent secondary offerings of its ADSs amounting to over $1.1 billion;
• The underwriters in Tiendas 3B’s $633 million SEC-registered IPO and its subsequent $593 million secondary follow-on offering;
• The SEC-registered IPOs of Mexico’s three airport groups (ASUR, OMA, and GAP), which raised over $2 billion as part of the opening of the airport sector to private investment; and
• The issuers and underwriters in a number of IPOs by Mexican corporates including: Alpek, BanBajío, Hoteles City Express, IEnova, Macquarie Mexican REIT, Nemak, GMéxico Transportes, Grupo GICSA, Grupo Lala, Grupo Rotoplas, Grupo Traxión, Terrafina, and Unifin Financiera.

Pemex in its international capital markets and liability management transactions, including:

• over $70 billion in global offerings of debt securities, including: 
  • €4.25 billion Reg S bond offering, the largest euro denominated emerging-market corporate bond offering on record;
  • $6 billion debt offering, the largest ever by a Mexican company; and 
  • Ps. 17 billion offering of “Euroclearable” Cebures, the first offering of corporate debt securities governed by Mexican law to clear through Euroclear.
• several landmark liability management transactions targeting over $60 billion in outstanding securities through a combination of tender offers and exchange offers; and
• successful solicitation of consents from the holders of more than 40 series of over $40 billion of debt.

Issuers and underwriters in a number of landmark bond offerings and liability management transactions, and lenders and borrowers in several noteworthy financings, including: 

• Comisión Federal de Electricidad in over $12 billion of global bonds, including its inaugural $1.75 billion sustainable bond offering and its $1.1 billion tender offer;
• The underwriters in Prudential Financial’s SEC-registered bond offerings amounting to over $5 billion and its $1.5 billion Rule 144A/Reg S P-Caps offering;
• The underwriters of Grupo Bimbo and its subsidiary Bimbo Bakeries USA in Rule 144A/Reg S bond offerings amounting to over $6 billion;
• Orbia (previously Mexichem) in Rule 144A/Reg S bond offerings amounting to over $5 billion;
• The initial purchasers in Banorte’s Rule 144A/Reg S bond offerings totaling $4.45 billion;
• The underwriters in PEFCO’s global bond offerings totaling $3.8 billion;
• The underwriters in Southern Copper’s SEC-registered bond offerings totaling $3.5 billion;
• Various bond offerings and financing transactions by ENAP amounting to over $2.8 billion, including its inaugural debt offering in the international capital markets;
• Unifin Financiera and its underwriters in Rule 144A/Reg S bond offerings totaling $2.6 billion, including its inaugural global bond offering;
• The initial purchasers in Nemak’s Rule 144A/Reg S bond offerings totaling $1 billion and €1 billion;
• Banco Inbursa in its Rule 144A/Reg S bond offerings totaling $1.75 billion;
• Industrias Peñoles in Rule 144A/Reg S bond offerings totaling $1.6 billion;
• The initial purchasers in Alfa’s $1 billion Rule 144A/Reg S inaugural bond offering and its subsequent $500 million consent solicitation and CUSIP exchange offer;
• The initial purchasers in Alpek’s Rule 144A/Reg S bond offerings totaling $1.25 billion;
• The initial purchasers in Liverpool’s Rule 144A/Reg S bond offerings amounting to over $1 billion;
• Fresnillo in its $850 million Rule 144A/Reg S bond offering and concurrent tender offer;
• The initial purchasers in IEnova’s $800 million Rule 144A/Reg S bond offering;
• Banco del Estado de Chile in its $600 million Rule 144A/Reg S inaugural AT1 offering;
• The initial purchaser in the structuring of a new securitization program originated by the Municipality of Lima for the issuance of Peruvian-law governed bonds and in the first issuance thereunder of S/1.3 billion (approx. $358.1 million); and
• Grupo GICSA in a novel real estate structured finance transaction involving concurrent offerings of three series of senior secured notes, one series of junior notes, and a bridge loan.

Grupo Aeroportuario del Sureste S.A.B. de C.V. (ASUR) in its $295 million acquisition of the equity interests of URW Airports LLC from Westfield Development Inc., acquiring the management of select commercial programs at key U.S. airports.

Terrafina, a Mexican real estate trust, in the competitive sale process that ultimately resulted in the sale of 77% of Terrafina’s share capital to Fibra Prologis.

Santander Mexico in Santander Spain’s 2019 exchange offer, 2021 tender offer, and ultimately in its 2023 tender offer and going private transaction to acquire the equity not already owned by Santander Spain.

The financial advisor to the board of directors and corporate practices committee of IEnova in Sempra’s exchange offer for all of the shares of IEnova it did not own.

The financial advisors to Grupo Financiero Banorte in connection with Banorte’s acquisition of Grupo Financiero Interacciones.

The financial advisors to CorpBanca in connection with the merger of Banco Itaú Chile and CorpBanca in a stock-for-stock transaction, then creating the fourth-largest private bank in Chile.

Vivendi in sale of 10% interest in Universal Music Group to Pershing Square Tontine Holdings.

FIEMEX, a special purpose trust sponsored by Mexico’s National Infrastructure Fund and managed by Mexico Infrastructure Partners, in its $1.49 billion bond offering, the largest single-tranche project finance bond issuance in the Mexican energy sector and one of the largest project bond issuances in Latin America to date.

The Mexican Ministry of Communications and Transportation in the $11.6 billion financing for the construction and development of the proposed new Mexico City International Airport, including a $1.6 billion offering of Fibra E certificates, a $3 billion revolving credit facility, $1 billion term loan and $6 billion in green bond offerings; and subsequent successful tender offers and consent solicitations to repay a portion of outstanding debt and solicit consents to reflect policy changes with respect to the plan to develop airport infrastructure to serve Mexico City and the surrounding areas.

Four airport groups in Mexico, including the Mexico City Airport Group, the Pacific Airport Group, the Southeast Airport Group, and the Central North Airport Group, in their capacities as trade creditors in the voluntary reorganization and restructuring of Grupo Aeromexico’s debt under Chapter 11 protection in the United States.

Empresas ICA, S.A.B. de C.V. and its subsidiaries in connection with the restructuring of over $3.5 billion of indebtedness.