Chambers Rankings Reaffirm Clifford Chance's Regional Excellence; Two Insurance Deals Structured By The Firm Receive Top Industry Awards; Clifford Chance Advises AWAS

Thursday, October 16, 2014 - 16:57

Chambers and Partners recently released its 2015 guide to Latin America, and the results again show Clifford Chance to be one of the foremost international law firms in the region.

Thirteen Clifford Chance lawyers earned 19 individual recognitions in the latest edition of Chambers Latin America. The firm also received eight practice recognitions this year, including top-tier rankings for Latin America-wide Projects and for Banking & Finance, Capital Markets and Corporate/M&A in Brazil. For the second consecutive year, Clifford Chance was the only international law firm to receive Band 1 rankings for all three Brazilian transactional practice areas.

Clifford Chance has been embedded in the Latin America market for more than three decades and is frequently counted among the region's most outstanding providers of legal service.  In addition to regular inclusion in the Chambers and Legal 500 guides, the firm has consistently been one of less than fifty international firms recommended in Latin Lawyer's annual guide to the leading business law firms of Latin America. Clifford Chance has also earned numerous deal of the year awards including, most recently, the Global Finance Deal of the Year: Capital Markets (Latin America) award from The America Lawyer. The award recognized the firm's leading role in the largest IPO in the world in 2013 – the offering of state-owned Banco do Brasil's insurance arm, BB Seguridade.

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Two standout deals on which Clifford Chance advised earned awards at Reactions magazine's prestigious 2014 North America Awards ceremony on September 23. Jardine Lloyd Thompson Group's purchase of Towers Watson's reinsurance brokerage business was chosen as the M&A Insurance Deal of the Year while Watford Re – a first-of-its-kind hedge fund reinsurance vehicle – was awarded Best New Launch of the Year and Best Capital Raise of the Year honors.

Reactions magazine is a leading global re/insurance publication that provides breaking news, specialist insight and detailed analysis. Its annual awards recognize the individuals, companies and transactions that had the biggest effect on the industry over the past year.

New York Corporate partner Gary Boss led the 12-office cross-border team that directed the innovative structure for Watford Re, which successfully completed a US$1.13 billion capital raise in March 2014. Watford Re is unique among alternative asset reinsurers, employing several structural innovations to create a diversified multi-line reinsurance business that combines the strong base of an existing global reinsurer with the investment management and strategy expertise of an established institutional investor.

Mr. Boss teamed with fellow corporate partners Hilary Evenett (London) and Joe Cosentino (New York) to lead Jardine Lloyd Thompson Group plc on its US$250 million acquisition of the Towers Watson reinsurance brokerage business. The acquisition, which utilized Clifford Chance lawyers across 15 offices worldwide, created an international reinsurance company with combined revenues of more than US$260m and over 700 employees in 17 countries globally.

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A New York-based team led by Banking & Finance partner Zarrar Sehgal has advised AWAS on its first private placement term loan. Proceeds from the US$350 million transaction, which closed October 7, were used to repay the existing debt on ten narrow-body aircraft and for general corporate purposes. This new facility was rated BBB by S&P and will have a seven-year term at a 4.87 percent coupon. In addition to Mr. Zarrar, the Clifford Chance team advising AWAS included Banking & Finance associates Fiona Henderson, Patrick Reisinger and Olga Miller, and Tax associate Eric Naftel.