Carlos T. Albarracín is a partner in the New York office of Milbank, Tweed, Hadley & McCloy and a member of the firm’s Capital Markets Group.
Primary Focus & Experience
Mr. Albarracín advises domestic and international clients in a broad range of matters involving Latin America, including debt and equity offerings, bank financings, and debt restructurings, with a focus on the oil and gas, power, mining and transportation sectors.
Some of Mr. Albarracín’s recent notable representations include:
- The initial purchasers in the inaugural $320 million high yield Rule 144A offering of 8.875% Senior Notes due 2022 by Grupo Kaltex, a Mexican vertically-integrated textile company and one of the largest textile companies in the world. (2017)
The lead arrangers in the Euro equivalent of $2 billion Euro-Denominated syndicated revolving credit facility for Mexico's América Móvil. (2016)
- The initial purchasers in $250 million Rule 144A offering of 3.800% senior notes due 2024 by Kimberly-Clark de México. (2014 and 2015)
Fermaca Enterprises, a leading Mexican gas pipeline company, in its issuance of $550 million of 6.375% senior secured notes due 2038.
- The initial purchasers of the notes were Citigroup Global Markets and Deutsche Bank Securities. (2014)
- The lead arranger, bookrunner, and initial lender, in a MPX$14.5 billion ($1.5 billion) three-tranche bank and capital markets debt by Concesionaria Mexiquense (Conmex), a subsidiary of transportation infrastructure giant OHL. (2014)
- The initial purchasers in a Rule 144 offering of MXP$7.5 billion (approximately $600 million) of 9.0% senior secured notes due in 2028 by Red de Carreteras de Occidente, a leading Mexican toll-road concessionaire. This transaction was structured as a global offering denominated and payable in Euroclearable Mexican pesos. (2013)
- The lead arrangers in an $800 million syndicated financing for Ternium de México, a leading Mexican steel company with operations in several Latin American countries. (2014)
The initial purchasers in the COP$2.3 trillion (approximately US$750 million) Colombian Peso-denominated Rule 144A senior notes offering by Empresas Públicas de Medellín E.S.P., Colombia’s largest power company.
- Conexion Pacífico Tres in a $650 million secured financing package to finance investments in its toll road concession. The financing included two tranches of Rule 144A notes ($260.4 million of Series A notes due 2035, yielding 8.250% COP$397 billion of Series B UVR-indexed notes due 2035, yielding 7.000%). (2016)
- The underwriters in 5 SEC-registered offerings by Ecopetrol, Colombia’s largest oil and gas company, of a total of $7.7 billion of notes. Some of these transactions are the largest non-sovereign bond offerings in Colombia to date. (2013-2016)
- Empresas Públicas de Medellín, an integrated Colombian power, gas, water and telecom company in a US$1 billion syndicated financing. (2016)
- The lenders in a $1.925 billion syndicated financing for Colombia’s state-owned oil and gas major Ecopetrol. (2015)
- The initial purchasers in connection with a $500 million Colombian-peso-denominated Rule 144A offering of 7.65% Senior Notes due 2024 by Empresas Públicas de Medellín, an integrated Colombian power, gas, water and telecom company. (2014)
- The initial purchasers in 8 offerings of Rule 144A (five- and ten-year) notes for a total $6.5 billion by YPF S.A., Argentina’s state-owned oil and gas company listed on the New York Stock Exchange. Some of these transactions are the largest non-sovereign bond offerings in Argentina to date. (2013 – 2017)
- The arranger and initial lender in the $200 million secured financing for Albanesi Energia S.A., an Argentine power generation company, in connection to the construction of a 200MW combined-cycle power plant in Santa Fe, Argentina. (2017)
- The lead arrangers in the US$450 million and AR$2,205 million syndicated bridge loan facility to finance in part Pampa Energía S.A.'s acquisition of approximately 67% stake in Petrobras Argentina S.A. from Brazilian state-run oil company Petroleo Brasileiro S.A. (2016)
- The initial purchasers in the $650 million Rule 144A offering of 7.750% secured amortizing notes due 2026, issued by the Province of Chubut in Argentina. (2016)
- The initial purchasers in Petrobras Argentina S.A.’s US$500 million Rule 144A offering of 7.3575% senior notes due 2023. (2016)
- Orazul Energy Egenor, a Peruvian energy company (formerly controlled by Duke Energy), in its $550 million inaugural high yield Rule 144A offering of 5.625% senior notes due 2027. The proceeds of this offering were used in part to finance the acquisition of Orazul by I Squared Capital. (2017)
- The initial purchasers in 3 Rule 144A note offerings by Transelec S.A., Chile’s largest power transmission company, for a total amount of $1.25 billion. (2013- 2016)
- Transportadora de Gas del Perú, Peru’s largest natural gas transportation company, in a (i) 100 million bank financing (2016) and (ii) a Rule 144A offering of $850 million aggregate principal amount of its 4.250% senior notes due 2028. (2013)
- Gas Natural de Lima y Callao (Cálidda), Peru’s largest natural gas distribution company, in a Rule 144A offering of $320 million aggregate principal amount of its 4.375% Senior Notes due 2023. (2013)
Recognition & Accomplishments
Mr. Albarracín is recognized for his work by Chambers USA, Chambers Latin America, Chambers Global, The Legal 500, including the Private Practice Powerlist for the US and Mexico, and a leading lawyer in IFLR Energy and Infrastructure: Latin America. He is fluent in Spanish and conversant in Portuguese.
- University of Virginia School of Law, LL.M.
- Universidad de Belgrano, Abogado (J.D. equivalent)
- New York