LatinFinance - January/February 2017 - 30

AWARDS
DEALS OF THE
YEAR 2016

A

W

A R D

S
2016

D

2

016 was a year apart. On the global level, Brexit and the
election of Donald Trump stunned markets. In Latin America,
developments were just as momentous. From Argentina's resolution
with holdout creditors and return to the global financial markets,
to Brazil's impeachment of President Dilma Rousseff, Colombia's
historic peace agreement that faltered at the final hurdle, and the
death of Cuba's Fidel Castro: just the biggest headlines suggest that
history will look back on the year as a turning point.
Amid the top-level drama, Latin America's companies, banks and
governments pushed ahead with their capital raising agendas. They
tapped bond investors for more cash last year than in 2015 - although
a smattering of jumbo trades skewed the total somewhat - while
equity issuance fell around 10%.
When LatinFinance's editorial team sat down with specialists
in October to reflect on the year and discuss the highlights for the
financial markets, one theme quickly emerged. It was Argentina's
year. From the start, Mauricio Macri's administration quickly set
about regaining access to international capital, settling with holdout
investors and catapulting itself back into the bond market after a
prolonged absence. The sovereign's $16.5 billion cross-border bond
sale was the largest-ever by an emerging market sovereign: order
books came close to $70 billion. Without a doubt, it was a landmark
for the country and the region.
A series of Argentine companies and regional governments followed
the sovereign into the markets, tapping bond and equity investors
for capital - and often in impressive style. We recognize several of
these transactions in this year's awards over the following pages, in
addition to the success stories from other parts of Latin America and
the Caribbean.
As always, the Deals of the Year Awards are chosen through a
rigorous and extensive adjudication process. After taking nominations
from market specialists, we spend several weeks examining data and
discussing the merits of transactions and institutions with market
participants.
In the deal categories, we consider the structure, timing and
execution of transactions, as well as their innovative and marketleading characteristics. For institutions, we consider their
participation in complex, innovative or otherwise stand-out
transactions, the depth and breadth of their activity, and how their
market standing has evolved.
In all categories, we considered deals closed between October 1,
2015 and September 30, 2016. Full details on the selection process can
be found at www.latinfinance.com/doty. LF
30 LATINFINANCE.COM - January/February 2017

ea

l s o f t h e Ye a

r

SOVEREIGN ISSUER
Republic of Argentina
CORPORATE ISSUER
Petróleos Mexicanos
SOVEREIGN BOND
Republic of Argentina $16.5bn Bond Sale
QUASI-SOVEREIGN BOND
YPF 300m Swiss Franc Bond Sale
CORPORATE HIGH-GRADE
Femsa €1bn Bond Sale
CORPORATE HIGH-YIELD BOND
Minerva $1bn Bond Sale
SOVEREIGN LIABILITY MANAGEMENT
Republic of Peru Exchange Offer
CORPORATE LIABILITY MANAGEMENT
Petrobras USD/EUR Tender and New Issue
INITIAL PUBLIC OFFERING
Grupo Supervielle NYSE Listing
EQUITY FOLLOW-ON
Energisa "Re-IPO"
PRIVATE EQUITY
Pemex/KKR Sale & Leaseback
CROSS-BORDER M&A
State Power Investment Corp/Pacific Hydro
DOMESTIC M&A
Pampa Energía/Petrobras Argentina
SYNDICATED LOAN
New International Airport of Mexico City Loan
FINANCING INNOVATION
Organización Soriana Swap-Embedded Loan
RESTRUCTURING
USJ Açúcar e Álcool Restructuring
LOCAL CURRENCY
Republic of Peru Exchange Offer
STRUCTURED FINANCING
New International Airport of Mexico City
Green Bond
TRADE FINANCING
BanReservas A/B Loan
LAW FIRM: LATAM
Cleary Gottlieb
LAW FIRM: MEXICO
Ritch Mueller
LAW FIRM: BRAZIL
Pinheiro Neto
LAW FIRM: ANDES
Garrigues
BOND HOUSE
Bank of America Merrill Lynch
M&A HOUSE
Credit Suisse
EQUITY HOUSE
Bank of America Merrill Lynch
LOAN HOUSE
Citi
INVESTMENT BANK
JPMorgan


http://www.latinfinance.com/doty http://www.LATINFINANCE.COM

Table of Contents for the Digital Edition of LatinFinance - January/February 2017

Contents
LatinFinance - January/February 2017 - Cover1
LatinFinance - January/February 2017 - Cover2
LatinFinance - January/February 2017 - Contents
LatinFinance - January/February 2017 - 2
LatinFinance - January/February 2017 - 3
LatinFinance - January/February 2017 - 4
LatinFinance - January/February 2017 - 5
LatinFinance - January/February 2017 - 6
LatinFinance - January/February 2017 - 7
LatinFinance - January/February 2017 - 8
LatinFinance - January/February 2017 - 9
LatinFinance - January/February 2017 - 10
LatinFinance - January/February 2017 - 11
LatinFinance - January/February 2017 - 12
LatinFinance - January/February 2017 - 13
LatinFinance - January/February 2017 - 14
LatinFinance - January/February 2017 - 15
LatinFinance - January/February 2017 - 16
LatinFinance - January/February 2017 - 17
LatinFinance - January/February 2017 - 18
LatinFinance - January/February 2017 - 19
LatinFinance - January/February 2017 - 20
LatinFinance - January/February 2017 - 21
LatinFinance - January/February 2017 - 22
LatinFinance - January/February 2017 - 23
LatinFinance - January/February 2017 - 24
LatinFinance - January/February 2017 - 25
LatinFinance - January/February 2017 - 26
LatinFinance - January/February 2017 - 27
LatinFinance - January/February 2017 - 28
LatinFinance - January/February 2017 - 29
LatinFinance - January/February 2017 - 30
LatinFinance - January/February 2017 - 31
LatinFinance - January/February 2017 - 32
LatinFinance - January/February 2017 - 33
LatinFinance - January/February 2017 - 34
LatinFinance - January/February 2017 - 35
LatinFinance - January/February 2017 - 36
LatinFinance - January/February 2017 - 37
LatinFinance - January/February 2017 - 38
LatinFinance - January/February 2017 - 39
LatinFinance - January/February 2017 - 40
LatinFinance - January/February 2017 - 41
LatinFinance - January/February 2017 - 42
LatinFinance - January/February 2017 - 43
LatinFinance - January/February 2017 - 44
LatinFinance - January/February 2017 - 45
LatinFinance - January/February 2017 - 46
LatinFinance - January/February 2017 - 47
LatinFinance - January/February 2017 - 48
LatinFinance - January/February 2017 - Cover3
LatinFinance - January/February 2017 - Cover4
https://www.nxtbook.com/nxtbooks/latinfinance/0319QMR
https://www.nxtbook.com/nxtbooks/latinfinance/1218JYM
https://www.nxtbook.com/nxtbooks/latinfinance/paraguay_2018
https://www.nxtbook.com/nxtbooks/latinfinance/8320YTM
https://www.nxtbook.com/nxtbooks/latinfinance/8465TBM
https://www.nxtbook.com/nxtbooks/latinfinance/1476YBW
https://www.nxtbook.com/nxtbooks/latinfinance/7835THM
https://www.nxtbook.com/nxtbooks/latinfinance/8655TGL
https://www.nxtbook.com/nxtbooks/latinfinance/0614IJP
https://www.nxtbook.com/nxtbooks/latinfinance/ecuador_20170910
https://www.nxtbook.com/nxtbooks/latinfinance/2713KNP
https://www.nxtbook.com/nxtbooks/latinfinance/4982CFT
https://www.nxtbook.com/nxtbooks/latinfinance/7803HWE
https://www.nxtbook.com/nxtbooks/latinfinance/3829THA
https://www.nxtbook.com/nxtbooks/latinfinance/7891MDD
https://www.nxtbook.com/nxtbooks/latinfinance/7714JCR
https://www.nxtbook.com/nxtbooks/latinfinance/5619CMK
https://www.nxtbook.com/nxtbooks/latinfinance/6939ASL
https://www.nxtbook.com/nxtbooks/latinfinance/1364ASF
https://www.nxtbook.com/nxtbooks/latinfinance/0453DAS
https://www.nxtbook.com/nxtbooks/latinfinance/0453DAS_supp
https://www.nxtbook.com/nxtbooks/latinfinance/1304APV
https://www.nxtbook.com/nxtbooks/latinfinance/7234GSD
https://www.nxtbook.com/nxtbooks/latinfinance/1643XGS
https://www.nxtbook.com/nxtbooks/latinfinance/9511JKM_supp
https://www.nxtbook.com/nxtbooks/latinfinance/9511JKM
https://www.nxtbook.com/nxtbooks/latinfinance/8745TNV
https://www.nxtbook.com/nxtbooks/latinfinance/3629PBC
https://www.nxtbook.com/nxtbooks/latinfinance/7466TBC_HSBC
https://www.nxtbook.com/nxtbooks/latinfinance/7466TBC_supp
https://www.nxtbook.com/nxtbooks/latinfinance/7466TBC
https://www.nxtbook.com/nxtbooks/latinfinance/9463RVB
https://www.nxtbook.com/nxtbooks/latinfinance/7345GPY
https://www.nxtbook.com/nxtbooks/latinfinance/6398TVB
https://www.nxtbook.com/nxtbooks/latinfinance/4899EXM_supp
https://www.nxtbook.com/nxtbooks/latinfinance/4899EXM
https://www.nxtbook.com/nxtbooks/latinfinance/3885CWS
https://www.nxtbook.com/nxtbooks/latinfinance/45923GBC
https://www.nxtbook.com/nxtbooks/latinfinance/67449NBD
https://www.nxtbook.com/nxtbooks/latinfinance/46733NLP
https://www.nxtbook.com/nxtbooks/latinfinance/78456HCL
https://www.nxtbook.com/nxtbooks/latinfinance/89456RBM
https://www.nxtbook.com/nxtbooks/latinfinance/22278HBL
https://www.nxtbook.com/nxtbooks/latinfinance/2895YBM
https://www.nxtbook.com/nxtbooks/latinfinance/9033TBM
https://www.nxtbook.com/nxtbooks/latinfinance/8934TNP
https://www.nxtbook.com/nxtbooks/latinfinance/costarica20130304
https://www.nxtbook.com/nxtbooks/latinfinance/4672PNB
https://www.nxtbook.com/nxtbooks/latinfinance/9377BKL
https://www.nxtbook.com/nxtbooks/latinfinance/drmtest
https://www.nxtbook.com/nxtbooks/latinfinance/drmtest2
https://www.nxtbook.com/nxtbooks/latinfinance/5532LMC
https://www.nxtbook.com/nxtbooks/latinfinance/9044TBM
https://www.nxtbook.com/nxtbooks/latinfinance/4877RBC
https://www.nxtbook.com/nxtbooks/latinfinance/3008JHV
https://www.nxtbook.com/nxtbooks/latinfinance/3728YBC
https://www.nxtbook.com/nxtbooks/latinfinance/9337KLM
https://www.nxtbook.com/nxtbooks/latinfinance/5674GNJ
https://www.nxtbook.com/nxtbooks/latinfinance/8330KMC
https://www.nxtbook.com/nxtbooks/latinfinance/7663HCM
https://www.nxtbook.com/nxtbooks/latinfinance/2319ZMB
https://www.nxtbook.com/nxtbooks/latinfinance/7110MKL
https://www.nxtbook.com/nxtbooks/latinfinance/8599FHG
https://www.nxtbook.com/nxtbooks/latinfinance/4517HJK
https://www.nxtbook.com/nxtbooks/latinfinance/7813GHB
https://www.nxtbook.com/nxtbooks/latinfinance/1564FBM
https://www.nxtbook.com/nxtbooks/latinfinance/8884HGV
https://www.nxtbook.com/nxtbooks/latinfinance/7863SVB
https://www.nxtbook.com/nxtbooks/latinfinance/5233SFB
https://www.nxtbook.com/nxtbooks/latinfinance/5899SML
https://www.nxtbook.com/nxtbooks/latinfinance/4311PMN
https://www.nxtbook.com/nxtbooks/latinfinance/1366FBB
https://www.nxtbook.com/nxtbooks/latinfinance/9355AXC
https://www.nxtbook.com/nxtbooks/latinfinance/8559EBN
https://www.nxtbook.com/nxtbooks/latinfinance/8244QXC
https://www.nxtbook.com/nxtbooks/latinfinance/1779BBN
https://www.nxtbook.com/nxtbooks/latinfinance/7144XVB
https://www.nxtbook.com/nxtbooks/latinfinance/8971QGH
https://www.nxtbook.com/nxtbooks/latinfinance/200805
https://www.nxtbook.com/nxtbooks/latinfinance/200804
https://www.nxtbook.com/nxtbooks/latinfinance/200803
https://www.nxtbookmedia.com