February 5, 2019 — Hughes Hubbard’s Latin America practice was recognized by LatinFinance for its work on a transaction named among the magazine’s “2018 Deals of the Year Awards.”

The firm advised the joint lead arrangers and a syndicate of 17 banks in connection with a $4.35 billion revolving credit facility for Brazilian oil giant Petroleo Brasileiro, or Petrobras. The transaction was named “Syndicated Loan of the Year” on Jan. 31 at the Gotham Hall in New York City.

LatinFinance’s annual “Deals of the Year Awards” ceremony honors standout institutions and transactions in the M&A and capital markets of Latin America and the Caribbean. The awards are determined by LatinFinance’s editors based on an exhaustive selection process involving examination of data and in-depth feedback and discussions with market participants.

The facility, which closed in March, marked the first syndicated revolving credit facility ever for Petrobras, Brazil’s largest energy firm and one of the biggest in Latin America. The loan helped the company to simplify its debt structure and improve its liquidity, both key long-term objectives.

Amy G. Dulin, Emilio Saiz and Charlotte Marill worked on this deal.