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Cravath, Swaine & Moore LLP

WORLDWIDE PLAZA, 825 EIGHTH AVENUE, 10019-7475, USA
Tel:
Work +1 212 474 1000
Fax:
Fax +1 212 474 3700
Email:
Web:
www.cravath.com
London, NEW YORK

David Mercado

Tel:
Work (212) 474-1756
Email:
Web:
www.cravath.com/dmercado
Cravath, Swaine & Moore LLP

Work Department

Corporate

Position

David Mercado is a partner in Cravath’s Corporate Department. His practice is diverse, with an emphasis on financings and mergers and acquisitions in both Europe and Latin America. A significant component of Mr. Mercado’s practice involves private equity funds.


Latin America: International firms

Capital markets

Within: Capital markets

Cravath, Swaine & Moore LLP does not play the volume game in Latin America, but deserves credit for its engagements in a series of headline deals over the years. This includes IPOs, secondary offerings, high-yield and investment-grade bond offerings. It has advised on transactions involving issuers from Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay, Venezuela and other Latin American jurisdictions; clients include Banco Santander, BBVA, Citigroup, Credit Suisse and JP Morgan. Having spent many years in London, David Mercado is now based in New York; he has a strong focus on Latin America and has advised on numerous big-ticket deals in the region over recent years. He led the team that advised the underwriters on the $1bn registered notes offering of Enel Chile, the Chilean electricity utility company; the notes were listed on NYSE. The firm, a global leader in high-yield debt offerings, regularly advises on deals involving issuers that have considerable interests or assets in Latin America. Craig Arcella, another experienced figure in Latin America capital markets issuances, led the team that advised Credit Suisse as the initial purchaser on the $1bn 144A/Reg S high-yield first lien and second lien pay-in-kind (PIK) notes offering of  international offshore drilling contractor, Pacific Drilling; the notes were issued as part of a reorganisation plan by the company.

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Corporate and M&A

Within: Corporate and M&A

Cravath, Swaine & Moore LLP has always managed to maintain a prominent global standing in M&A, despite having more limited coverage and resources than its major international rivals. This is also true for its Latin America practice, which largely centres on the eminent David Mercado, now back in New York after a long stint in London, and a handful of other partners that occasionally advise on transactions in the region. Clients include Banco Santander, Becle (Jose Cuervo) and Grupo Financiero Interacciones. Partner Mark Greene led the team that advised Grupo Financiero Interacciones on its $1.4bn sale to Grupo Financiero Banorte; both are Mexico-based financial services providers. In another major deal involving a Latin American financial institution, Richard Hall led the team that advised Banco Santander on the $528m sale of TotalBank by its subsidiary Banco Popular Español to Chile's Banco de Crédito e Inversiones. Other headline matters included advising Mexico's Becle on its $205m acquisition of the Pendleton Whisky brand assets from Hood River Distillers.

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