LATAM’s $600 Million Senior Notes Offering


Clifford Chance US represented LATAM Finance Limited, as issuer, and LATAM Airlines Group S.A. (“LATAM”), as guarantor, in the Rule 144A / Regulation S offering of $600,000,000 of 7.000% Senior Notes due 2026 issued and sold by LATAM Finance Limited, a finance subsidiary of LATAM, and guaranteed by LATAM. The proceeds are expected to be used for general corporate purposes.

The global coordinators and joint book-running managers were Goldman Sachs, J.P. Morgan Securities and the joint book-running managers was BNP Paribas Securities, Credit Suisse Securities (USA), Deutsche Bank Securities and Santander Investment Securities.

Clifford Chance advised with a team led out of New York by Banking & Finance partner Gary Brooks (Picture) and includes partner Emily Wicker and associates Jason Parsont, Rebecca Isaacs and Israel Augenstein. Partner Avrohom Gelber and associate Sean Smestad advised on tax matters.

In Chile, Claro & Cia. advised LATAM Airlines with José Luis Ambrosy and Andrés del Sante.

Maples Group advised LATAM Airlines with Wanda Ebanks and Barnabas Finnigan.

Cleary Gottlieb Steen & Hamilton advised Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Santander Investment Securities Inc. with Adam Brenneman, David Stewart Fisher, Linda Zang, Olivia Charlotte Espy Huntington, Anthony Thomas Yanez and Rigoberto Chávez.

In Chile, Philippi Prietocarrizosa Ferrero DU & Uría advised the banks with Marcelo Armas, Marcela Silva, Macarena Valenzuela, Francisca Rebolledo and Aref Cosma.

Involved fees earner: José Luis Ambrosy – Claro y Cia; Andrés Del Sante – Claro y Cia; Adam Brenneman – Cleary Gottlieb Steen & Hamilton; Olivia Charlotte Espy Huntington – Cleary Gottlieb Steen & Hamilton; David Stewart Fisher – Cleary Gottlieb Steen & Hamilton; Anthony Thomas Yanez – Cleary Gottlieb Steen & Hamilton; Linda Zang – Cleary Gottlieb Steen & Hamilton; Israel Augenstein – Clifford Chance; Gary Brooks – Clifford Chance; Avrohom Gelber – Clifford Chance; Rebecca Isaacs – Clifford Chance; Jason Parsont – Clifford Chance; Sean Smestad – Clifford Chance; Emily Wicker – Clifford Chance; Wanda Ebanks – Maples and Calder LLP; Barnabas Finnigan – Maples and Calder LLP; Marcelo Armas Mac Donald – Philippi Prietocarrizosa Ferrero DU & Uría; Aref Cosma – Philippi Prietocarrizosa Ferrero DU & Uría; Francisca Rebolledo – Philippi Prietocarrizosa Ferrero DU & Uría; Marcela Silva – Philippi Prietocarrizosa Ferrero DU & Uría; Macarena Valenzuela Sepúlveda – Philippi Prietocarrizosa Ferrero DU & Uría;

Law Firms: Claro y Cia; Cleary Gottlieb Steen & Hamilton; Clifford Chance; Maples and Calder LLP; Philippi Prietocarrizosa Ferrero DU & Uría;

Clients: BNP Paribas Securities; Credit Suisse Securities (USA) LLC; Deutsche Bank Securities; Goldman Sachs & Co.; JP Morgan Securities; LATAM Finance Limited; Santander Investment Securities Inc.;

Author: Ambrogio Visconti