Sullivan & Cromwell matters earned seven top honors at the 2025 LatinFinance “Deals of the Year” Awards, which recognize stand-out transactions in Latin America and the Caribbean.
- Loan of the Year: S&C advised VMOS S.A. on its $2 billion syndicated secured term loan facility to finance the development of the Vaca Muerta Sur Pipeline project in Argentina. The transaction is the largest commercial loan for an infrastructure project in Argentine history and one of the top five oil and gas financings in Latin America. The S&C team included Sergio Galvis, Nikolaos Andronikos and Benjamin Kent.
- Structured Financing of the Year: S&C advised Minera Los Pelambres on a $2 billion project financing to expand its water infrastructure assets in Chile. The transaction involved pioneering features, including the unbundling of Minera Los Pelambres’ water facilities from the rest of the business to provide infrastructure returns to investors without being subject to the commodity price risks inherent in a mining business. The S&C team was led by Sergio Galvis and Benjamin Kent.
- Corporate Sustainable Deal of the Year: S&C advised Inversiones CMPC S.A. on its $600 million offering of 6.7% subordinated capital notes due 2057, the company’s first international capital markets issuance of hybrid subordinated debt securities. The S&C team was led by Werner Ahlers and Benjamin Kent.
- Sovereign Bond of the Year: S&C advised the underwriters on the United Mexican States’ $8.5 billion global bond offering, which was the largest SEC-registered issuance by Mexico in its history at the time. The S&C team was led by Chris Mann and Alan Fishman.
- Financing Innovation of the Year: S&C advised the initial purchasers and underwriters of Mexico’s inaugural $12 billion pre-capitalized securities (P-Caps) notes offering, the first such transaction undertaken by a sovereign. The S&C team was led by Chris Mann and Alan Fishman.
- Cross-Border M&A Deal of the Year: S&C advised the financial advisers to the Special Committee of the Board of Directors of Nordstrom, Inc. on El Puerto de Liverpool, S.A.B. de C.V.’s agreement with members of the Nordstrom family to acquire all of the outstanding common shares of Nordstrom, Inc. not already owned by the Nordstrom family and Liverpool in an all-cash transaction valued at approximately $6.25 billion. The transaction will result in the Nordstrom family holding a majority ownership stake in the company. The S&C team was led by Melissa Sawyer.
- Honorable Mention Deal of the Year: S&C advised Lundin Mining on its joint acquisition of Filo Corp. alongside BHP, for C$4.1 billion. The Firm also advised Lundin on the concurrent formation of a 50/50 joint venture with BHP to hold and develop the Filo del Sol project, an early-stage copper development project in Argentina and Chile, and the adjacent Josemaria project. The S&C team was led by Werner Ahlers and Jonathon Hannah.