Rebaza, Alcázar & De Las Casas advised an ad hoc group of noteholders, issued by Atento Luxco 1 (Atento), as well as Glas Trust Corporation Limited and Wilimington Trust (London) Limited, collateral agents, in the multi-jurisdictional financial restructuring of Atento, as part of the Restructuring Plan (the Plan) approved by Atento’s creditors pursuant to Part 26A of the Companies Act 2006 under UK law.
Atento, incorporated in Luxembourg, and with predominant presence in Latin America and part of Europe, is a leading global provider of data services and business process outsourcing.
The Plan consisted of a debt-for-equity swap, in favor of Atento's financial creditors, for liabilities of up to US$650 million; and, included the granting of an exit financing in favor of Atento for US$76 million, which remarkably stabilized the financial condition of Atento, ahead of further technological and geographic growth.
Our advisory services included the structuring of the collateral package to be granted to guarantee Atento's debt to its creditors, as well as the evaluation of different corporate, contractual, and insolvency legal aspects of Atento's financial restructuring involving its subsidiaries, including the Peruvian subsidiary, Teleatento del Perú.
Legal advisors to the Noteholders:
International counsels:
Hogan Lovells LLP
Peruvian counsel:
Rebaza Alcázar & De Las Casas
Partners Alberto Rebaza, José Jiménez, Daniel Gonzales, and Fabio Nuñez del Prado; senior associate Andrea Rieckhof; and associates Valeria Sánchez, Álvaro Luna Victoria and Camila Hernández.
Legal advisors to Atento Luxco 1
International counsel:
Sidley Austin LLP
Peruvian counsel:
Estudio Berninzon