SPONSORED GUIDE: LatAm Exchange Offers

SPONSORED GUIDE: LatAm Exchange Offers

by Ricardo M. Gonzalez, Partner, Mayer Brown LLP, and Jeffrey Susskind, Associate, Mayer Brown LLPMany companies in Latin America are facing significant challenges in refinancing or servicing their outstanding debt, as well as complying with existing debt covenants.  With little or no access to liquidity, these companies are increasingly looking to exchange offers as a viable, out-of-court restructuring alternative.  Unlike other alternatives, such as cash tender offers and debt repurchases, exchange offers do not require issuers to use much needed cash.  Recent examples of Latin American debt restructurings involving exchange offers include Cap Cana, S.A. (Dominican Republic)

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