Mayer Brown has advised on three transactions recognized by LatinFinance as Deals of the Year, highlighting the firm’s role in complex capital markets and financing transactions across Latin America. The recognitions were announced at the LatinFinance Capital Markets dinner held on January 29.
The awards span financial institutions, sovereign sustainable finance, and private debt, reflecting a range of structures and sectors where the firm acted for investors and public sector participants.
Recognition
LatinFinance’s Deals of the Year awards recognize transactions that demonstrate innovation, scale, and market impact across the region. Mayer Brown’s involvement in three award-winning deals underscores its continued focus on cross-border financings and structured solutions in Latin America.
The firm was recognized for its advisory role on the following transactions.
Institutions
Mayer Brown advised a group of private placement investors on Banco Industrial S.A.’s $996 million diversified payment rights transaction, which was named Financial Institutions Deal of the Year.
The offering involved notes backed by current and future US dollar-denominated diversified payment rights originated by Banco Industrial, Guatemala’s largest banking institution. The transaction structure relies on offshore collection of cash flows until investors are fully paid, reducing sovereign risk exposure.
This structure enabled the transaction to achieve a credit rating above Guatemala’s sovereign ceiling. The deal is understood to be the largest diversified payment rights transaction completed by an originator in the Central America and Caribbean region.
Sovereign
Mayer Brown advised the United States International Development Finance Corporation in its role as political risk insurer on El Salvador’s $1 billion debt-for-nature conversion, which received Sovereign Sustainable Deal of the Year recognition.
The financing supported the repurchase of $1.031 billion in outstanding bonds at a discount to par value. Savings generated through the transaction are expected to be directed over time toward conservation programs, water security initiatives, and ecosystem restoration projects within the Lempa River watershed.
The Lempa River, also known as the Rio Lempa, is one of Central America’s longest rivers. Projects funded through the transaction are expected to improve water quality and availability, strengthen climate resilience, protect natural ecosystems, and address long-term water security risks in the region.
Private
Mayer Brown also represented a group of institutional investors in a nearly $640 million refinancing transaction for Internacional de Cerámica, S.A.P.I de C.V., known as Interceramic. The transaction was named Private Debt Deal of the Year.
The financing was structured to repay acquisition bridge financing used to take the company private and buy out certain shareholders. As part of the transaction, the institutional investor group funded a $320 million senior US private placement.
The deal provided longer-term financing and replaced short-term acquisition debt with a more stable capital structure.
Impact
Together, the three transactions reflect a range of financing techniques, including structured finance, sustainability-linked sovereign transactions, and private debt solutions. They also illustrate continued investor appetite for Latin American assets when supported by well-defined legal structures and risk mitigation mechanisms.
Mayer Brown’s recognition across multiple categories highlights the firm’s involvement in transactions that combine scale, innovation, and cross-border complexity.
FAQs
How many Deals of the Year did Mayer Brown advise on?
Three transactions were recognized by LatinFinance.
Which Banco Industrial deal was awarded?
Its $996 million diversified payment rights transaction.
What was the El Salvador transaction?
A $1 billion debt-for-nature swap.
Who was advised in the Interceramic deal?
A group of institutional investors.
