Gianluca Bacchiocchi

Global investment firm Carlyle (NASDAQ: CG) announced the closing of a US$750 million senior secured debt financing for The Parking Spot, the largest near-airport parking company in the United States. The facility will support the refinancing of existing debt associated with a subset of The Parking Spot’s portfolio consisting of 28 near-airport parking facilities located across 18 major US airports in 13 states. Carlyle served as the sole manager, sole structuring agent, and ratings advisor for the transaction. Latham & Watkins LLP represented Carlyle in the financing with a team led by New York partner Gianluca Bacchiocchi, with associates Carlos Ibarguengoitia and Miles Primason, and a real estate team led by New York counsel Lisa Brabant, with associates Sara Aziz* and Alex Liscio. Advice was also provided on tax matters by New York partner Elena Romanova; on ERISA matters by Los Angeles/New York counsel Aryeh Zuber; on environmental matters by New York counsel David Langer; on intellectual property matters by New York partner Jeffrey Tochner; on litigation matters by Washington, D.C. associate Rebekah Soule; on anticorruption/sanctions matters by London/Washington, D.C. partner Nathan Seltzer, with associate Matthew Gregory; and on bank regulatory matters by New York counsel Pia Naib, with associate Ja Hyeon Park. *Admitted to practice in New York and New Jersey only.~~

Feb 2

1 min

Latham & Watkins’ Latin America Practice was recognized as a leader in business law in the region by The Legal 500 Latin America 2024. The firm was recognized with 14 rankings for its work across Banking and Finance, Corporate and M&A, Capital Markets, International Arbitration, and Projects and Energy. Clients noted to The Legal 500 that Latham’s Latin America Practice was “Without a doubt…the best law firm on the street” with a “great ability to negotiate successfully and a very quick response to customer needs” as well as “thorough knowledge of their areas of expertise and especially of operations in Latin America.” In addition, The Legal 500 ranked eight Latham lawyers for their impressive track record within the region. The lawyers ranked include: Antonio Del Pino – Hall of Fame Fernando Mantilla-Serrano – Hall of Fame Gianluca Bacchiocchi – Leading Individual Carlos Ardila – Next Generation Partner Guido Liniado – Next Generation Partner Esperanza Barron-Baratech – Rising Star Francisco Lanusse – Rising Star Diego Romero – Rising Star In its profile, The Legal 500 describes Latham as a “highly integrated Latin America practice with many team members crossing various disciplines at the same time as having high levels of core specialization.”~~

Oct 30

1 min

A multidisciplinary team led by members of the firm’s Latin America Practice advised Mizuho and Banistmo, as structuring agents, and the note purchaser on Panama Infrastructure Receivable Purchaser PLC’s US$119 million offering of its Series 2024-1 Senior Secured Notes due 2026. Panama Infrastructure Receivable Purchaser PLC is an orphan special purpose vehicle incorporated under the laws of England and Wales that will use the net proceeds of its offering to purchase certain work progress receivables (informes de progreso de trabajo) from Consorcio Panamá Cuarto Puente and China Harbour Engineering Company Ltd. The project is one of Panama’s critical new infrastructure projects and is expected to considerably enhance ground transportation connections between Panama City and the rest of the country, streamlining the daily movement of approximately 70,000 vehicles and benefitting approximately 1.7 million residents. In addition to the financing, Latham advised on the bankability of certain amendments to the project contract and the regulatory framework for the issuance of the work progress receivables, the creation of the multi-tranche financing structure, tax structuring in connection with the use of an English special purpose vehicle, and various regulatory matters relating to the financing. The Latham team was led by New York corporate partners Gianluca Bacchiocchi and Guido Liniado, with associates Giancarlo Reanda, Francisco Lascurain, and Andres Chester.* London partner Tom Cochran advised on English law matters. New York partner Elena Romanova and associate Jacob Nagelberg advised on US tax matters, and London partner Aaron Bradley and associate Nicole Lim advised on UK tax matters. Counsel Joel Cavanaugh advised on Investment Company Act matters. Counsel Laura Szarmach advised on ERISA matters. Counsel Andrew Galdes and associate Jessie Michelin advised on sanctions and export control matters. *Not admitted to practice in New York. Admitted in Argentina.~~

Mar 18

1 min

A multi-disciplinary team led by members of the firm’s Latin America practice advised Citibank and Santander as global coordinators, HSBC, ING, JP Morgan, and Natixis as joint bookrunners, and Bladex (NY branch), Mizuho, Ramirez & Co., and Standard Chartered as co-managers, on Yinson Boronia Production B.V.’s 144A/Reg S offering of its US$1.035 billion 8.947% Senior Secured Notes Due 2042 (the Notes). The firm also advised Citibank, Bladex (NY branch), and ING (Singapore branch) as issuing banks and lenders under a letter of credit facility to fund reserve accounts in connection with the notes financing. This was the first FPSO project bond in Latin America with a letter of credit facility to fund the reserve accounts where the issuer was also the borrower under the credit facility. Yinson Boronia Production B.V. is a special purpose vehicle organized under the laws of the Netherlands and owned by Yinson Production Offshore Pte Ltd and Sumitomo Corporation. A portion of the proceeds of the notes were applied to refinance an existing facility to build the floating production, storage, and offloading (FPSO) vessel “Anna Nery.” The vessel is a purpose-built piece of infrastructure designed specifically for the Marlim field over a multi-year engineering and construction process, and currently operates under a charter agreement with Petrobras. The refinancing closed one year after the FPSO started operating under the charter agreement. The Notes were listed on the International Securities Market of the London Stock Exchange plc, and were rated BB+ by Fitch and Ba1 by Moody’s. The transaction involved the combined work of numerous parties and law firms across multiple jurisdictions, including the United States, Brazil, the Netherlands, Bahamas, England, and Singapore. The Latham team was led by New York corporate partner Gianluca Bacchiocchi, with associates Giancarlo Reanda, Yu Won (Anny) Yang, and Rob Thompson. London associates Sam Burleton and Daniel Chen advised on English law matters. New York partner Elena Romanova, with associate Shangpu (Nicholas) Sun advised on tax matters. Associate Ming Wei Loo advised on Singapore law matters.~~

Jun 5

1 min

Six esteemed members of Latham's Latin American Practice — partners Carlos Ardila, Gianluca Bacchiocchi, Roderick Branch, Antonio Del Pino, Guido Liniado, and Fernando Mantilla-Serrano — have earned their place on Latinvex’s Top 100 Lawyers 2024 list. The 12th annual ranking includes 100 attorneys from 59 law firms across 14 categories. The selection criteria for this list focus on each lawyer's participation in significant recent transactions and business within Latin America, the reputation of their law firm in the region, and their standings in third party legal directories such as Chambers and Partners and Legal 500. Carlos Ardila focuses his practice on cross-border corporate and financing transactions within the energy and infrastructure sectors in the US and Latin America. He has extensive experience working with a diverse client base on matters involving renewables, traditional power, and oil and gas. Gianluca Bacchiocchi concentrates his practice on cross-border financing transactions, both in the bank and capital markets, primarily serving sponsors, issuers, commercial banks, investment banks and private equity funds with a focus on Latin American matters. His experience encompasses a broad spectrum of finance areas, including project bonds, project finance, and various structured finance transactions. Roderick Branch concentrates his practice on capital markets transactions and public company representation, with a focus on financings and securities regulation in cross-border matters. With a wealth of experience in both public and private securities financings, he has represented a diverse clientele, including companies, investment banks, and sovereign governments. Antonio Del Pino, Global Chair of Latham & Watkins’ Latin America Practice, focuses his practice on cross-border M&A, private equity transactions, and restructurings between Latin America and the US. He is recognized for his experience in the infrastructure, energy, and financial services sectors. Guido Liniado concentrates his practice on innovative cross-border transactions, focusing on Latin America, the Caribbean, and emerging markets, where he advises a diverse client base, including sponsors, banks, and investors. His practice spans a wide range of financial matters, including project finance, structured finance, and corporate finance, with a particular knack for complex debt and security arrangements. Fernando Mantilla-Serrano, Global Co-Chair of the International Arbitration Practice, focuses his practice on complex commercial and investor-state disputes for a range of clients, including companies and governments. His extensive experience encompasses leading arbitrations under major institutional and ad hoc rules worldwide, with a strong track record in sectors like oil and gas, power, and construction.~~

Mar 26

2 min