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Banking, Finance and Restructuring

D’Empaire advises leading international and local financial institutions on regulatory and compliance matters.  We also counsel Venezuelan banks on complex transactions and financings, including asset-backed loans, real estate transactions, syndicated loans and foreign exchange transactions.

D’Empaire has also participated in the largest debt restructurings of Venezuelan companies, represented clients in bankruptcy cases and in distressed acquisitions.

Our representations include:

  • Haitong Bank S.A., Sucursal en España as dealer manager in connection with the Bolivarian Republic of Venezuela’s offer and sale of U.S. dollar 5 billion aggregate
    principal amount of 6.5% Bonds due 2036
  • Banco Exterior and six other Venezuelan banks in a syndicated loan granted to one of the major pharmacy chains in Venezuela
  • Banco de Investimentos Credit Suisse (Brasil) S.A., as Administrative Agent and Initial Lender, in connection with a U.S. dollar 533,753,482.50 Credit Facility to the Bolivarian Republic of Venezuela, to assist the Corporación Venezolana de Comercio Exterior, S.A. in financing its payment obligations under a supply agreement with JBS S.A.
  • Sojitz Corporation, as Venezuela counsel for the collection of Promissory Notes issued by the Bolivarian Republic of Venezuela through Corporación Venezolana de Guayana (CVG)
  • Citigroup and Evrofinance Mosnarbank as structuring agents on the offer and sale by Petróleos de Venezuela, S.A. (PDVSA) of U.S. dollar 5 billion 6% Senior Notes due 2024
  • Citigroup Global Markets Inc. and Evrofinance Mosnarbank as structuring agents on the offer and sale by Petróleos de Venezuela, S.A. (PDVSA) of U.S. dollar 5 billion 6% Senior Notes due 2024
  • Citigroup Global Markets Inc. and Evrofinance Mosnarbank as dealer managers on the offer and sale by Petróleos de Venezuela, S.A. (PDVSA) of U.S. dollar 4.5 billion 6% Senior Notes due 2026
  • Credit Suisse AG, acting through its Cayman Islands Branch, as Administrative Agent and Arranger, in connection with a U.S. dollar 1.0 billion Credit Facility to Petróleos de Venezuela, S.A. (PDVSA), to assist PDVSA in financing its payment obligations under an engineering, procurement and construction contract with Hyundai Engineering & Construction Co. Ltd.
  • Citigroup Global Markets Inc., and Evrofinance Mosnarbank as dealer managers on the offer and sale by Petróleos de Venezuela, S.A. (PDVSA)  of U.S. dollar 3 billion 9.75% Senior Notes due 2035
  • BNP Paribas, Crédit Agricole Corporate and Investment Bank, Deutsche Bank AG (Paris Branch), Natixis, Société Générale as mandated lead arrangers, Unicredit Bank Austria AG, Credit Industriel et Commercial, as arrangers, BNP Paribas, as Coface agent and structuring bank, in connection with a EUR 491,666,666.67 credit agreement for the financing of Metro de Los Teques, Línea 2, El Tambor San Antonio de los Altos’ equipment and an insurance premium in the amount of EUR 64,506,666.67 to the Bolivarian Republic of Venezuela
  • Industrial and Commercial Bank of China (ICBC) in a US$1.5 billion Pre-Paid Export Finance Facility to Petróleos de Venezuela, S.A. (2012) – China Law & Practice awarded with the “Project Finance Deal of the Year”
  • Bancaribe and other Venezuelan banks in a syndicated loan (and two extensions) granted to an important Venezuelan construction company for the construction of a complex including a hotel, a commercial building and a mall
  •  Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC as dealer managers on the offer and sale by Petróleos de Venezuela, S.A. (PDVSA) of U.S. dollar 3 billion 12.75% Senior Notes due 2022
  • Citigroup Global Markets Inc. and Evrofinance Mosnarbank as dealer managers on the exchange, offer and sale by Petróleos de Venezuela, S.A. (PDVSA) of U.S. dollar 3 billion 9% Senior Notes due 2021
  • Credit Suisse Securities (Europe) Limited and Evrofinance Mosnarbank as dealer managers in connection with the Bolivarian Republic of Venezuela’s offer and sale of U.S. dollar 3 billion aggregate principal amount of 11.75% Bonds due 2026
  • Deutsche Bank Securities Inc. and Evrofinance Mosnarbank as dealer managers in connection with the Bolivarian Republic of Venezuela’s offer and sale of U.S. dollar 4.2 billion aggregate principal amount of 11.95% Bonds due 2031
  • Citigroup Global Markets Inc. and Credit Suisse as dealer managers in connection with Petróleos de Venezuela S.A.’s US$ 3 billion aggregate principal amount of Senior Notes
    Due 2016 (2011)
  • Citigroup Global Markets Inc. as dealer manager in connection with Petróleos de Venezuela S.A.’s US$ 3 billion aggregate principal amount of Senior Notes Due 2017 (2010)
  • Citigroup Global Markets Inc. as dealer manager in connection with Petróleos de Venezuela S.A.’s exchange of its Unsecured Notes due 2011 for Senior Notes due 2013 (2010)
  •  Credit Suisse Securities and Deutsche Bank Securities Inc. as dealer managers in connection with the Bolivarian Republic of Venezuela’s US$ 3 billion aggregate principal amount of 12.75% amortizing bonds due 2022 (2010)
  • AEI and Williams in the repayment of the US$150 million financial debt of Accroven to Overseas Private Investment Corporation (OPIC) and Eximbank in the context of the sale of Accroven to PDVSA Gas for US$214 million (2010)
  • Citi and Deutsche Bank Securities Inc. as dealer managers in the placement of the Bolivarian Republic of Venezuela’s US$ 1.5 billion aggregate principal amount of 7.75% bonds due 2019 and US$ 1.5 billion aggregate principal amount of 8.25% bonds due 2024 (2009)
  • Deutsche Bank Securities Inc. and Barclays Bank PLC as dealer managers in the placement of the Bolivarian Republic of Venezuela’s US$ 1.5 billion aggregate principal amount of 9% bonds due 2023 and US$ 1.5 billion aggregate principal amount of 9.25% bonds due 2028 (2008)
  • ABN AMRO and Econoinvest Casa de Bolsa in the placement of theUS$3 billion 5.25% Notes due 2017, US$3 billion 5.375% Notes due 2027 and US$1.5 billion 5.50% Notes due 2037 Notes issued by Petróleos de Venezuela, S.A. (2007)
  • Japan Bank for International Cooperation (JBIC) in connection with a US$ 3.5 billion credit facility granted by JBIC and Japanese companies Marubeni and Mitsui to Petróleos de Venezuela, S.A.