Gianluca Bacchiocchi

Partner
New York
  • 1271 Avenue of the Americas
  • New York, NY 10020
  • USA
Profile Experience

Gianluca Bacchiocchi represents sponsors, issuers, and underwriters in cross-border capital markets transactions, with a particular focus on matters involving Latin America.

Mr. Bacchiocchi advises clients on a variety of finance matters, including in connection with:

  • International structured financings
  • Project and infrastructure financings
  • Public-private partnership bidding processes
  • Secured and unsecured lending arrangements

He regularly counsels infrastructure clients and their sponsors in a range of domestic and international securitization matters, including Rule144A/Reg S of government receivables and revolving credit facilities, private placements, and hybrid transactions.

Mr. Bacchiocchi’s experience includes advising:

Project Finance
  • Goldman Sachs, as global coordinator, and Bancolombia, Corpbanca, and the Compartimento de Deuda Privada Infraestructura Debt Fund, as senior lenders, on the US$877 million multi-source and multi-currency bank/bond financing for the Conexion Pacifico 3 4G toll road project in Colombia (Latin American P3 Deal of the Year 2016, Project Finance International; Project Finance Deal of the Year 2016, Latin Lawyer Magazine; Best Road Financing and Best Infrastructure Financing 2016 – Andes, Latin Finance)
  • Goldman Sachs, as global coordinator, and Bancolombia, FDN, and the CAF-AM Ashmore Debt Fund, as senior lenders, on the US$708 million multi-source and multi-currency bank/bond financing for the Ruta al Mar toll road project in Colombia (Transport Deal of the Year, IJGlobal Awards 2017)
  • Goldman Sachs, as arranger, and the Central American Development Bank (CABEI) and a group of Colombian banks, as lenders, on the US$390 million multi-tranche and multi-currency project financing for the Alto Magdalena toll road project in Colombia (named Best Local Currency Financing, Latin Finance Awards 2017)
  • Goldman Sachs, as global coordinator, Scotia Capital, as co-manager, and Bancolombia, Banco de Bogotá, Banco de Occidente, and the CAF-AM Ashmore Debt Fund, as senior lenders, on the US$702 million multi-source and multi-currency bank/bond financing for the Costera Cartagena Barranquilla toll road project in Colombia
  • Metro de Lima Linea 2 as concessionaire, and the sponsors, in the US$800 million off-balance sheet loan financing provided by multilaterals, ECAs, and European banks for Line 2 of the Lima and Callao Metro project in Peru backed by RPI-CAOs
  • BESI-Grupo Novo Banco and Credit Suisse as arrangers and placement agents, on a US$273.7 million financing for the Red Dorsal Nacional de Fibra Optica project, the first ever developed country-wide fiber optic network spanning approximately 13,400 km in Peru (Latin America Telecoms Deal, IJGlobal Awards 2015; Best Bond, Latin Finance Awards 2015)
  • Banco Santander on the US$200 million financing of the Longitudinal de la Sierra – Tramo 2 toll road project in Peru, which was developed by a consortium formed by SACYR Concesiones in Spain, and Sacyr Concesiones Peru and Constructora Málaga Hnos in Peru
  • The arranger and placement agent in a US$132.8 million offering of project bonds to finance the construction of the 223 MW Eten cold reserve power plant in Northern Peru (Latin American Project Bond Deal of the Year 2013 and Overall Latin American Deal of the Year 2013, Project Finance Magazine; Project Finance Deal of the Year 2013, IFLR; Best Infrastructure Bond of the Year 2013, Latin Finance)
  • Bank of America as issuer arranger and initial purchaser, in a Reg S US$230 million offering of project bonds to finance multiple medical facilities in Peru; deal named one of the most innovative finance deals of 2012 by the Financial Times’ 2012 US Innovative Lawyers report; subsequently advised Bank of America in connection with an approximately US$60 million secured loan transaction for IBT Group and its subsidiaries
  • The initial purchaser in connection with the 144A refinancing of the original project debt for the Jorge Chavez International Airport in Lima, Peru
  • The sponsors and issuer in a Rule 144A/Reg S US$110 million offering of project bonds to finance the construction of a terminal at the Paita Port in Peru (Project/Infrastructure Financing Deal of the Year 2012, Latin Finance)
  • Citibank as trustee in connection with a project bond financing to refinance the Ilhabela FPSO in Brazil
  • Solarpack, a Spanish energy developer, and French private equity fund Ardian, in connection with the approximately US$220 million refinancing of three Peruvian solar parks (Latin American Deal of the Year, Proximo 2020)
  • The lenders in connection with the approximately US$510 million multi-source and multi-currency refinancing of the Alto Magdalena 4G toll road in Colombia (Latin American Deal of the Year, Proximo 2020)
  • The Concessionaire (Metro de Lima Linea 2) and its six shareholders in the US$563.2 million securitization of Peruvian government receivables (RPI-CAOs) to finance the design, construction, operation, maintenance, electromechanical equipping, systems equipping, and supply of rolling stock for Line 2 of the Lima and Callao Metro system
  • Goldman Sachs on the hybrid financing for the construction of Rutas 2 and 7 toll road, the first toll road awarded under the PPP scheme in Paraguay, which included a forward purchase agreement, a Rule 144A/Reg S securitization of government receivables, and the first ever letter of credit facility by IDB Invest to facilitate working capital advances from the bond proceeds; this project was the largest-ever private investment in Paraguayan infrastructure
  • UBS in connection with the financing of the integral rail system of Panama City Metro line 2, which involved the first-ever issuance of CDNO backed project bonds
  • A consortium led by China Harbour Engineering Company Limited (CHEC), SP Ingenieros, Unidad de Infraestructura y Construcciones Asociadas, and Termotécnica Coindustrial in the approximately US$658 million multi-tranche, multi-currency, term loan financing for the Mar 2 toll road project in Colombia
  • Citibank as underwriter with respect to a Rule 144A/Reg S project bond used to refinance the Ruta 27 toll road in Costa Rica; the first time a Costa Rican entity operating an infrastructure asset issued project finance-style bonds, and the first time also that both bonds were issued simultaneously for a Costa Rican issuer (Best Infrastructure Financing: Central America, Latin Finance Awards 2017; Project Bond Deal of the Year, IJGlobal Awards 2017)
  • Allianz Global Investors US (acting on behalf of its clients) in connection with the fixed rate US$250 million 18-year 4(a)(2) private placement to refinance the Peruvian wind farms Parque Eólico Marcona and Parque Eólico Tres Hermanas
  • Argentina's Ministry of Finance and its newly created PPP Unit on the design and implementation of the country's PPP program (under the institutional umbrella of the Inter-American Investment Corporation and the Inter-American Development Bank)
  • Transaction counsel in Reg S S/.837,750,000 issuance of project bonds for the financing of the Autopista del Sol Toll Road, Trujillo-Sullana section in Peru
Structured Finance
  • Goldman Sachs as the sole global coordinator, bookrunner, initial purchaser, and commitment provider on the US$489 million zero coupon note offering by Chile Electricity to finance the purchase from AES Gener, Enel Green Power, Engie, Colbun, and certain of their affiliates of electricity tariff receivables originating pursuant to the Chilean Tariff Stabilization Law
  • Mizuho, as global coordinator and joint bookrunner, and SMBC, as joint bookrunner, on the US$273 million securitization of construction receivables (CPAOs) for the Lima Metro Line 1 Expansion
  • UBS, as structurer, sole bookrunner, and initial purchaser, on the US$732 million first-ever securitization of construction receivables (CROPs) to finance the construction of the Loma Plata – Carmelo Peralta segment of the Corredor Bioceanico road in Paraguay (named Bond of the Year, Latin Finance Awards 2019)
  • IDB Invest in connection with a 2019 issuance of a diversified payment right backed loan on behalf of Banco de la Produccion
  • IDB Invest, OPIC, Prudential, and Wells Fargo in connection with an issuance of diversified payment right backed notes on behalf of Banco Industrial
  • The State of Rio de Janeiro and RioPrevidência of Brazil, Rio de Janeiro's state-owned pension fund, through Rio Oil Finance Trust, a Delaware statutory trust, on its Rule 144A/Reg S US$600 million issuance of notes in connection with the securitization of Rio de Janeiro's oil and gas royalties
  • Metro de Lima Linea 2 on a US$1.15 billion securitization in connection with the Line 2 of the Lima and Callao Metro Project in Peru (Best Transport Financing and Best Bond, Latin Finance Awards 2016; Project Finance Deal of the Year, IFLR Awards 2016; Latin America Multi-sourced Financing Deal, IJGlobal Awards 2015)
  • The Pension Fund of the State of Rio de Janeiro in Brazil, RioPrevidência on the US$2 billion Oil Royalty Securitization and a further US$1.1 billion notes issuance secured by the state’s future oil and gas royalties (Deal of the Year 2014, Latin Lawyer; Structured Financing of the Year and Financing Innovation of the Year 2014, Latin Finance)
  • The arranger and initial purchaser in a Reg S S/.792 million securitization of RPICAOs for the financing of the Taboada water treatment facility in Peru; transaction also included an additional series of Reg S pass-through variable funding notes that could be funded up to S/.150 million
  • The arranger and initial purchaser in a Rule 144A/Reg S US$254 million securitization of CRPAOs for the financing of the Tramo 5 section of the IIRSA Sur toll road project in Peru
  • The arranger and initial purchaser in a Reg S S/.320 million securitization of RPICAOs for the financing of the Huascacocha water derivation project in Peru (Latin American Water Infrastructure Deal of the Year, Project Finance Magazine Awards 2010 and Project Finance Deal of the Year, IFLR Americas Awards 2011)
  • IIRSA Sur – Tramo 2/3: Represented Merrill Lynch, as issuer, arranger, and initial purchaser, in a Rule 144A/Reg S US$1.2 billion offering of pass-through notes supported by payments of the government of Peru on CRPAOs issued to concessionaires and ultimately purchased by the issuer (Infrastructure Deal of the Year 2007; Best Structured Bond Deal of the Year 2007 from Latin Finance)
Acquisition, Leveraged, and other Corporate Finance
  • Bank of America in connection with a holdco loan financing in connection with operating payments related to the Villa Maria and Callao Hospitals in Peru
  • Blackrock in the holdco financing of 99MW CCTG and 850MW CCTG plants in Mexico, developed by Energia del Valle de Mexico
  • Citibank and UBS in connection with establishing a loan financing facility that purchased CDNOs from the SPARC EM issuer; a very novel liability management transaction as it was the first ever refinancing of CDNOs that were owned by an SPV bond issuer
  • Goldman Sachs in connection with the entry into a Mandate Letter and Commitment Letter for the financing of Acciona’s acquisition and development of Line 6 of the Sao Paulo Metro. Additionally represented Goldman Sachs in connection with their role in the financing of the acquisition of the Line 6 project.
  • Goldman Sachs and JP Morgan in connection with the Mandate Letter, Commitment Letter, and financing structure in connection with the bidding for the acquisition by Mubadala, SNAM and EIG of the Transportadora Associada de Gás, a wholly-owned subsidiary of Petrobras in Brazil
  • Actis in connection with the acquisition financing structure for an acquisition bid to purchase Enel Green Power’s assets in Mexico
  • Goldman Sachs, as initial purchaser and sole coordinator and bookrunner, in connection with a Brazilian debenture bridge financing and a Rule 144A/Reg S US$350 million notes issuance to refinance existing notes issued by Brazilian port terminal owner Prumo Participações e Investimentos

*Certain matters were handled prior to joining Latham.

 

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