Jun 2023
Conyers provided a Bermuda law legal opinion in respect of an amended security agreement entered into by Guara Norte Holdings Ltd. in connection with a consent solicitation by Guara Norte S.à r.l.
In February 2021, Guara Norte S.à r.l. had issued 5.198% senior secured notes due 2034 in an aggregate principal amount of US$850 million. In order to amend certain of the transaction documents, the issuer launched a consent solicitation from the holders of the notes.
In May 2023, the issuer was advised that it had received consents from holders of more than 50% of the notes then outstanding for the adoption of the proposed amendments, at which time Guara Norte Holdings Ltd. was required to enter into an amended security agreement.
Conyers Director Chiara Nannini and Senior Associate Alexis Haynes worked alongside Milbank LLP and White & Case LLP.