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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

Hugo Triaca

Tel:
Work +12128783222
Email:
Clifford Chance LLP

Work Department

Capital Markets

Position

Hugo Triaca specialises in equity offerings, high-yield and investment grade debt offerings, hybrid securities transactions, liability management transactions such as exchange offers and debt tender offers, acquisition financings and other corporate transactions.

Mr. Triaca also advises foreign private issuers in connection with corporate governance, U.S. securities laws and general corporate matters.

Education

Columbia University School of Law (LL.M.) 2003, University of Buenos Aires School of Law (J.D. Honors Diploma) 1999


Latin America: International firms

Capital markets

Within: Capital markets

Clifford Chance impresses with its breadth of geographic and product coverage. Brazil, Mexico and Argentina have been especially good markets for the capital markets group, which is also active in Colombia, Peru, Central America (including Guatemala), and Paraguay; the firm's substantial Sao Paulo office has helped to cement its standing in Brazil capital markets transactions. The team operates across the debt and equity spheres, notably in transactions involving sovereign, quasi-sovereign and corporate issuers. Historically, the practice centred on Brazil, but it has broadened out successfully in recent years, making particular progress in project and infrastructure bonds, private placements and structured derivatives. It has been at the forefront of infrastructure finance through the capital markets, most notably in Colombia's 4G toll road programme, and in Argentina, Peru and Paraguay; in this instance the team works especially closely with the firm's market leading project finance practice. Gianluca Bacchiocchi is widely regarded as one of the market leading forces in project bond financings. Clients include AES Gener, Bank of America Merrill Lynch, Corporación Andina de Fomento, Credit Suisse, Electrobras, Evercore, FibraHotel, HSBC Securities, Klabin Finance and Multibank. The firm has held a prominent position in the Fibra sector in Mexico over many years and in 2018 advised Goldman Sachs and Evercore on the pioneering $890m IPO of Mexican energy and infrastructure investment trust CFE FIBRA E. In the sovereign and quasi-sovereign space, the firm advised Credit Suisse, Deutsche Bank and JP Morgan, as joint lead managers, on the $2.5bn and $3bn notes offerings by the Republic of Ecuador. Additionally, it advised the underwriters on the $864m IPO of Hapvida, the Brazilian healthcare services company. The Latin America capital markets group provides 'extraordinary services and commitment', 'knows the market and makes things easier'. It is made up of 'modest lawyers despite their enormous experience' who 'just want to close deals'. Hugo Triaca is another key member of the team, operating across the capital markets segment, including in investment grade, high yield and hybrid securities. Co-head of the Americas capital markets practice Jonathan Zonis is a prolific adviser on Latin America capital markets issuances, including project bonds, sovereign bonds and high yield debt. Sao Paulo managing partner Anthony Oldfield is also key figure on Brazil company issuances and Jake Farquharson is an increasingly pivotal member of the team, notably in the Mexican Fibra segment; he is 'a great securities lawyer with a lot of knowledge to handle very sophisticated work, his attention to detail is fantastic and he can work endless hours'. Anand Saha is equally impressive, including in Brazil equity deals. Sao Paulo counsel Anja Pfleger Andrade is recommended for structured capital markets and derivatives and fellow Sao Paulo counsel Patrick Jackson continues to impress in capital markets and liability management transactions. Alejandro Camacho has retired from the partnership and is now senior counsel in the team.

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United States: Finance

Capital markets: equity offerings

Within: Capital markets: equity offerings

Clifford Chance’s New York-based practice, which is weighted towards underwriter-side work, excels in REIT-related offerings in line with its signature strength. The firm’s premier cross-border capability also marks it as ‘a leader in coordinating global offerings’. In a deal that showcases both of its sweet spots, Jason Myers and department co-chair Kathleen Werner advised the underwriters on China-headquartered HNA Tourism Group’s secondary offering of common stock of Park Hotels & Resorts. In another multi-jurisdictional highlight, Jake Farquharson advised the underwriters on the $890m IPO of Mexican energy and infrastructure investment trust, CFE Fibra E, which marked the first Fibra E securities to be sold in the US and international capital markets. Jonathan Zonis co-heads a department that also includes the ‘exceptionally strategic’ Hugo Triaca, who recently joined from Skadden, Arps, Slate, Meagher & Flom LLP.

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Capital markets: global offerings

Within: Capital markets: global offerings

Well known in the international capital markets, Clifford Chance’s generous global network generates a steady stream of cross-border deals for both issuers and managers, with notable expertise in the REIT and infrastructure spheres. The New York-based group significantly stepped up its activity in Latin America in 2018, with its recent experience spanning Mexico, Ecuador, Colombia and Brazil, among other jurisdictions. Recent highlights included Jonathan Zonis, who co-heads the Americas capital markets practice, advising Barclays Bank, Deutsche Bank Securities and HSBC Securities (USA) as underwriters on CAF – Development Bank of Latin America’s $1bn notes offering. On the equity front, Jake Farquharson acted alongside the tax department to advise the underwriters on the $890m IPO of CFE Fibra E, a Mexican energy and infrastructure investment trust. Hugo Triaca, who recently arrived from Skadden, Arps, Slate, Meagher & Flom LLP, is noted for his ‘deep and broad understanding of the Latin American region’.

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Capital markets: high-yield debt offerings

Within: Capital markets: high-yield debt offerings

‘Strategic and solution-focused’, Clifford Chance’s New York-based practice is mainly active for issuers and brings to bear strong expertise in the specialty finance arena. In a recent example of its niche strength, Gary Brooks advised Oxford Finance, and its wholly-owned subsidiary Oxford Finance Co-Issuer II, on a $300m senior unsecured notes offering. The practice group also draws upon its international offices for support on cross-border deals, which recently included Jonathan Zonis acting alongside teams in London and Sao Paulo to advise Multibank on its $300m notes issuance. Hugo Triaca, who recently joined from Skadden, Arps, Slate, Meagher & Flom LLP, is noted for his ‘strong understanding of the Latin American landscape’.

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United States: Industry focus

Energy: renewable/alternative power

Within: Energy: renewable/alternative power

Clifford Chance has energy-sector expertise in finance, capital markets, corporate transactions and M&A, with a focus on the Latin American market. Key figures in the team include Washington DC-based Fabricio Longhin, New York-based David Brinton, who leads the Americas corporate practice and Lori Bean, who is instructed by multilateral and development finance institutions in Washington DC. Longhin and the New York-based senior associate Guido Liniado acted for various entities of the Albanesi Group, as borrowers, in the financing of the 133MW Arroyo Seco cogeneration plant and the refinancing of 170MW TimbĂșes cogeneration plant in Argentina, which involved the execution of a dual-tranche $395m credit agreement. Also in the New York office, Hugo Triaca joined the team from Skadden, Arps, Slate, Meagher & Flom LLP, and Thais Garcia was promoted to partner.

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