Seven LatAm firms in Spanish tech company Atento’s debt tap
Eloise Hardy

Multiple law firms – seven from Latin America – have helped Spanish business technology company Atento issue US$500 million worth of notes.

Sidley Austin LLP in London and Chicago, four Uría Menéndez offices, Argentina's Marval O'Farrell Mairal, Cescon, Barrieu, Flesch & Barreto Advogados in São Paulo, Chile's Carey, Brigard Urrutia in Bogotá, Mexico’s González Calvillo, SC and Berninzon & Benavides in Lima all helped Atento.

The underwriters were advised by Davis Polk & Wardwell LLP in New York and Brazilian firm Machado Meyer Advogados. Baker McKenzie LLP in London advised the trustee.

The deal closed on 10 February.

The senior secured notes have an interest rate of 8% and are due in 2026. Atento will use the proceeds from the offering to refinance its outstanding 6.125% notes due in 2022.

The notes will be guaranteed on a senior secured basis by Atento’s wholly-owned Latin American subsidiaries. Within 120 business days of the issuance date, the notes and the guarantees will be secured by a first-priority lien on the capital stock of the issuer.


Counsel to Atento

Sidley Austin LLP

Partners Alan Grinceri and Bryan Robson, and associates Willian Gwyn, Dominic Nelson, Lillian Bond and Iram Tariq in London, and partner Suresh Advani and associate Andrei Pinchuk in Chicago

Uría Menéndez

Partner Juan Carlos Machuca and associate Ignacio Zapata in London; associate Guillermo Rey in Barcelona; associate Daniel Gurrea in Valencia; and associates Alfonso Bernar and Violeta Pina in Madrid

Marval O'Farrell Mairal

Partner Hernan Slemenson and associate María de los Milagros Abelenda in Buenos Aires

Cescon, Barrieu, Flesch & Barreto Advogados

Partner Daniel Laudisio and associate Dimitrios Constantelos in São Paulo

Carey

Partner Francisco Ugarte and associates Alejandra Daroch, Domingo Russi and Natalia Reinicke in Santiago

Brigard Urrutia

Partners Carlos Fradique-Méndez and Luis Gabriel Morcillo, and associate Martín Peña in Bogotá

González Calvillo, SC

Partner Juan Manuel Sancho, counsel Alberto Bustamante, and associates Francisco Javier Álvarez and José María Castro in Mexico City

Berninzon & Benavides

Partner Eduardo Benavides, counsel Carlos Ratti, and associates Kattia Trujillo and Andrea Vergara in Lima

Counsel to Banco BTG Pactual, Goldman Sachs & Co, Itau BBA USA Securities, Morgan Stanley & Co, BCP Securities, XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários and Barrington Research Associates

Davis Polk & Wardwell LLP

Partners Manuel Garciadiaz and Mario Verdolini, counsel Drew Glover, and associates James Vickers, Kendra Simpson and Lourenco Lopes-Sabino in New York

Machado Meyer Advogados

Partner Eduardo Castro and associates Karina Tiaki Momose and Marcus Vinicius Villa Bretherick in São Paulo

Counsel to Wilmington Trust

Baker McKenzie LLP

Partner Bevis Metcalfe in London