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Clifford Chance

31 WEST 52ND STREET, NEW YORK, NY 10019-6131, USA
Work +1 212 878 8000
Fax +1 212 878 8375

Jonathan Zonis

Work +1 212878 3250
Clifford Chance

Work Department

M&A corporate, Capital markets, Energy & resources


Jonathan Zonis concentrates in representing issuers and underwriters in cross-border equity and debt (including high-yield) offerings. Jonathan has been involved in public and private transactions in equity and debt offerings by issuers in a variety of industries including banking, energy, manufacturing, real estate, infrastructure, luxury goods, telecommunications, media and shipping.

Latin America: International firms

Capital markets

Within: Capital markets

Clifford Chance has broad geographical coverage and wide-ranging product experience. Having once been primarily tied to the Brazilian market, it maintains its significant presence while also having become a key player in key markets such as Argentina, Chile, Peru, Colombia and Mexico. The firm has pioneered a number of growth areas such as green bonds, infrastructure funding through the capital markets, and the recent advent of the FIBRA-E securities structure in Mexico. With its excellent connections to Argentina through a number of senior Argentine lawyers (such as prominent energy and infrastructure finance partner Fabricio Longhin), the firm is at the forefront of a reawakened capital markets segment in the jurisdiction. It also reinforced its capital markets standing with the hire of Argentine native Hugo Triaca from Skadden, Arps, Slate, Meagher & Flom LLP. In Brazil, it continues to advise on an impressive pipeline of deals, thanks to its excellent client portfolio of corporate issuers and banks. The firm also remains at the forefront of project bonds and infrastructure financings through the capital markets and is active in the FIBRA sector, where it continues to leverage its knowledge of the REIT market in the US and its local experience in Mexico. In addition, it has exploited its global expertise in green bonds to lead the market in Latin America: a team led by up-and-coming São Paulo counsel Patrick Jackson advised major Brazilian paper producer, Klabin, on its inaugural $500m green bonds issuance. In another headline deal, the practice group advised state-owned petroleum company Petroperú on its first-ever $2bn international bond offering; this was one of the largest corporate bond offerings in Latin America in recent years. In sovereign work, it also represented Citigroup Global Markets (as lead manager and global coordinator) in four bond offerings by the Republic of Ecuador with an aggregate value of $4.75bn. The team is ‘bigger, more experienced, more creative and more thoughtful’ than competitors, according to one client; others praise the ‘incredibly value-adding service’ that is ‘worth every penny’. Key partners include São Paulo managing partner Anthony Oldfield who has an excellent record in advising Brazilian issuers, and co-head of Americas capital markets Jonathan Zonis who impresses in multiple product and geographic areas, including sovereign bonds. Gianluca Bacchiocchi is a leader in project and infrastructure bonds, and hybrid financings involving capital markets components, while Anand Saha is an experienced Latin America capital markets specialist with an especially strong record in Brazil, where he was based before transferring to New York. Per Chilstrom is another key name, while Jake Farquharson is a prominent partner in the Mexican FIBRA space. Counsel Anja Pfleger Andrade is another pivotal figure in São Paulo. Alejandro Camacho has retired from the partnership.

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United States: Finance

Capital markets: equity offerings

Within: Capital markets: equity offerings

Clifford Chance’s highly regarded REIT practice positions it as an attractive choice for equity deals in that space - for both managers and issuers. Manager highlights include Andrew Epstein and Jay Bernstein assisting the underwriters with KKR Real Estate Finance Trust’s $241.6m IPO, while Jason Myers and US capital markets co-head Kathleen Werner advised Goldman Sachs as sole underwriter on Park Hotels & Resorts’ $325m public offering of common stock. On the issuer side, Kathleen Werner and Richard Catalano handled Safety, Income and Growth’s $205m IPO and concurrent $45m private placement. Jonathan Zonis, who co-heads the Americas capital markets practice, is also a key partner in the New York-based group.

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Capital markets: global offerings

Within: Capital markets: global offerings

Clifford Chance’s comprehensive international network, which takes in 33 offices across Africa, the Americas, Asia, Europe and the Middle East, translates into a steady stream of global deals. The New York-headquartered group has a diverse focus, but is particularly well known for its expertise in debt transactions and REIT matters. On the issuer side, Alejandro Camacho and Per Chilstrom assisted Peruvian state-owned petroleum company, Petróleos del Perú, with its first-ever international bond offering, which raised nearly $2bn. Among its work for underwriters, Jonathan Zonis acted alongside the London office to advise Citigroup Global Markets as lead manager and global coordinator on several bond offerings by the Republic of Ecuador, totaling $3.7bn. Kathleen Werner and US corporate finance chair Jay Bernstein are the other key contacts.

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Capital markets: high-yield debt offerings

Within: Capital markets: high-yield debt offerings

Clifford Chance’s focus on specialty finance and cross-border matters translates into a steady stream of high-yield debt matters - mainly from issuers. Gary Brooks is a key contact in the New York-based practice and recently advised LATAM Airlines Group on its $140m offering of pass-through certificates. Indeed, the team has particular expertise in Latin America and senior counsel Alejandro Camacho, together with Per Chilstrom, assisted Petróleos del Perú with its first-ever international bond offering, worth $2bn. Jonathan Zonis is another senior name in a group that has also recently undertaken work for Citigroup Global Markets, Provident Funding Associates and Quotient.

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