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Clifford Chance

31 WEST 52ND STREET, NEW YORK, NY 10019-6131, USA
Tel:
Work +1 212 878 8000
Fax:
Fax +1 212 878 8375
Email:
Web:
www.cliffordchance.com

Jay Gavigan

Tel:
Work +1 212878 8531
Email:
Clifford Chance LLP

Work Department

Banking & finance, Banks, Energy & resources, Funds & investment management, Private equity, Transport & logistics

Position

Jay Gavigan represents lenders and borrowers in domestic and international financing transactions.  He has experience in transactions in all major international markets and has practiced in Clifford Chance's European and Asian offices though currently focuses on the Americas.

Jay has experience with a wide range of financing transactions including acquisition and leveraged finance, project finance, asset finance, syndicated credits, real estate finance and workouts.

In the acquisition finance space, he has represented commercial and investment banks and private equity sponsors in leveraged buyouts, going private transactions, leveraged recapitalizations and strategic acquisitions.  His experience in this area includes capital raising in Europe and the United States and acquisitions in Europe, the United States and Latin America.

Jay represents commercial banks, agencies, operators and investors in offshore oil and gas transactions, principally in the Americas.  This practice includes acquisitions, refinancings, construction, workouts, transportation and credit enhancement transactions and includes debt capital markets transactions (project bonds) and combined bank/bond transactions.

He also represents private real estate and infrastructure funds and lenders to those funds, public REITS as borrowers, US homebuilders as borrowers and lenders to homebuilders in Latin American jurisdictions.

Jay has substantial experience in U.S. and cross-border leasing transactions, U.S. and international capital markets transactions and derivatives transactions including credit-default swap related financing transactions.


Latin America: International firms

Banking and finance

Within: Banking and finance

Clifford Chance has seen a further uptick in bulge-bracket financings across Latin America. With a growth in large-cap deals in Brazil, this has further favoured a firm that has an especially strong record in Latin America's largest economy. This should not detract from its experience elsewhere, as the firm 'does a very good job of covering the territory and has a strong fleet of Spanish speakers'. Syndicated loans and trade and commodities finance have been a particular feature of its Brazil work, while project finance is flourishing right across the region. The firm has built a particularly formidable position in Colombia and Argentina project financings and is recognised for its experience in restructurings in Brazil and Mexico, including in the offshore oil-and-gas sectors. From a historical reliance on multilateral agency (MLA) and development finance institution (DFI) clients, the firm has successfully diversified its client base to also include a range of key commercial banks, alternative lenders and corporate borrowers. Clients now include Citibank, Goldman Sachs, Morgan Stanley, UBS, CVC Capital Partners, Franklin Square Asset Management, Rialto Capital, Sealed Air and Siemens. It advised BNP Paribas, JP Morgan, Mizuho and Rabobank on the $9.2bn acquisition financing of Suzano Papel e Celulose's $11bn acquisition of Fibria; the financing involved a bridge loan facility and an export prepayment facility. The firm also advised Supercanal, the Argentine cable, television and internet provider, on its $400m restructuring involving Chapter 15 proceedings and a tender offer for its $300m New York law-governed notes. The team 'always meets its commitments and takes initiative more than any other firm to anticipate issues and provide solutions', according to one client.  Chris Willott is a giant of the Brazil financing market, while Jennifer Demarco has a prolific record in Latin American restructurings. Jay Gavigan is another big name in Latin American financings and restructurings, including acquisition finance, syndicated loans and project finance. In the latter segment, Washington DC's Fabricio Longhin has made a significant impression on the market in recent years and is 'a very experienced practitioner across a range of products', 'maintains an outwardly cool demeanour, seems unflappable and is smart and reasonable'; he is one of a number of Argentine natives in the team that have helped the firm gain an especially strong position in financings linked to Argentina's recent RenovAr programme. Catherine McCarthy and Lori Bean are key members of the Washington DC team that continues to work closely with MLAs and DFIs on Latin America financings. Guido Liniado was elected to the partnership in May 2019 and senior associate Andrew Young is another up-and-coming name. Madrid partner José Guardo is commended for 'effectively negotiating with sponsors', 'professionalism throughout difficult negotiations' and is 'critical in keeping the deal moving'.

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