​​Hughes Hubbard's $900M Financing for Fibria Named Among LatinFinance's 2015 'Deals of the Year'

Hughes Hubbard & Reed served as counsel in a transaction recognized by LatinFinance as among 2015’s Deals of the Year.

A heavily-subscribed term loan extension for Brazilian pulp and cellulose producer Fibria, in which Hughes Hubbard represented a syndicate of banks led by BNP Paribas and Natixis, was named “Trade Finance of the Year” at the magazine’s 2015 Deals of the Year Awards.
 
The awards, which were presented at LatinFinance’s annual gala dinner in New York on Jan. 14, 2016, celebrate outstanding transactions in the capital markets of Latin America and the Caribbean from Oct. 1, 2014 to Sept. 30, 2015.
 
Fibria initially borrowed $500 million in a triple-tranche pre-payment loan that closed in December 2014 with a syndicate of 11 banks led by BNP Paribas and Natixis. Fibria reopened the loan a few months later in search of financing for a $2.2 billion expansion to its local pulp plant.
 
Fibria secured another $400 million in September 2015 with an additional five new lenders, “underscoring the company as a bright spot in Brazil, where credit risk has soared and uncertainty has dominated markets,” the magazine said in its January edition, which announced the winners. 
 
LatinFinance’s editorial team selects the winners based on extensive evaluation of supporting documentation and relevant transactional and institutional data. LatinFinance has covered banking and capital markets in the region for more than 25 years.
 
Amy G. Dulin led the Hughes Hubbard team, which included Jose V. Bermudez and Charlotte Marill, with assistance from Lynn Kamarck.