Stephen J. Double
Stephen J. Double is a financial and corporate transactions attorney in Holland & Knight's New York City office and a member of the firm's Financial Services Team. Mr. Double regularly represents a wide range of lenders and underwriters, as well as corporate and financial institution issuers and borrowers, on cross-border and domestic capital markets, syndicated lending, acquisition finance, structured finance, project bond and trade finance transactions.
Mr. Double advises on cross-border and domestic corporate issues and on a variety of debt (senior, subordinated and high-yield), equity and equity-linked securities offerings, as well as project bonds and structured finance and securitization transactions, by issuers in the financial services, oil and gas, software, energy, media, transportation and infrastructure, agribusiness and other sectors, as well as sovereign and quasi-sovereign issuers. He frequently advises on securities offerings made pursuant to Rule 144A and Regulation S, as well as private placement transactions made to sophisticated investors pursuant to Section 4(a)(2) of the Securities Act. Mr. Double also has extensive experience representing foreign private issuers with respect to their periodic U.S. Securities and Exchange Commission (SEC) reporting requirements.
In addition, Mr. Double advises bank and fund lenders, as well as corporate and financial institution borrowers, on cross-border and domestic syndicated lending, acquisition finance, structured finance and trade finance transactions. Many of the transactions on which he advises include collateral packages both within and outside of the U.S.
Mr. Double has extensive experience in the area of Environmental, Social and Corporate Governance (ESG) financings, including International Capital Market Association (ICMA)-compliant green bonds as well as sustainability-linked debt products. One of his recent ESG finance transactions was awarded "Financing Innovation of the Year" by Latin Finance Magazine in 2020 as the first sustainability-linked loan transaction by a Latin American company.
Mr. Double also advises clients on private merger and acquisition (M&A) transactions, primarily in Latin America.
In Chambers Latin America – Latin America's Leading Lawyers for Business guide 2022, one client appraisal called Mr. Double "very savvy," and also noted that "he is very easy to work with and is always on top of the deal."
Prior to joining Holland & Knight, Mr. Double practiced at another international law firm and was based in New York and São Paulo, having also previously practiced in London.
- Representation of the following Argentine provinces, as issuers, in nine separate issuances of secured (by oil and gas royalties) or unsecured bonds pursuant to Rule 144A and Regulation S: Mendoza, Chubut, Salta, Tierra del Fuego, Entre Rios, Rio Negro and Jujuy; the Province of Jujuy bond transaction was the first fully compliant ICMA green bond issued by an Argentine sovereign or sub-sovereign issuer
- Representation of Fibra UNO on its international offering of US$650 million in senior notes; the issuance includes the reopening of up to US$375 million at 4.950 percent yield to maturity, due in 2030, and US$275 million at 6.250 percent yield to maturity, due in 2050; both were issued in accordance with Rule 144A and Regulation S under the U.S. Securities Act of 1933
- Representation of Banco Latinoamericano de Comercio Exterior, S.A. (Bladex), a multinational bank, in the offer and sale of US$400 million of 2.375 percent senior notes due in 2025 under Bladex's Euro Medium Term Note Program; the notes were issued to investors in the U.S. pursuant to Rule 144A and investors outside the U.S. pursuant to Regulation S under the U.S. Securities Act of 1933; the notes are listed on the Luxembourg Stock Exchange and admitted for trade on the Euro MTF
- Represented Banco Latinoamericano de Comercio Exterior S.A. (Bladex), as issuer, in connection with its Rule 144A issue of US$350 million bonds due 2020, underwritten by Citibank and Bank of America Merrill Lynch
- Represented Camposol S.A. (Peru) in connection with its US$125 million 9.875 percent senior notes due in 2017, and offered and sold under Rule 144A/Regulation S
- Represented Merrill Lynch and a 10-bank dealer syndicate in connection with the establishment of a US$2 billion Rule 144A medium-term note program by Banco Itaú Holding Financeira S.A.
- Represented Corporación GEO S.A.B. de C.V., a leading Mexican housing developer, on its Rule 144A high-yield bond offering, with Morgan Stanley and Banco Santander acting as joint lead managers
- Represented Standard Bank PLC, as dealer manager and lead manager, in connection with a cash tender offer and consent solicitation by the Rede Brasil Sul Group, a leading Brazilian news and media conglomerate, for its existing bonds due in 2010, and a new Rule 144A issue of bonds denominated in Brazilian reais
- Advised on establishment, updates and numerous Rule 144A/Regulation S drawdowns under note programs for several Brazilian financial institutions (representing either the issuer or the underwriters), including: Banco do Brasil, Banco Itaú, Banco Itaú BBA, Banco Santander Brasil/Banespa, Banco Votorantim, Banco Fibra S.A, Banco Pine S.A. and Banco Industrial e Comercial S.A. (Bicbanco)
- Represented Stoneway Group/Araucaria Energy, an energy sponsor operating in Argentina, as issuer in connection with its US$500 million Rule 144A/Regulation S project bond offering; deal is one of the first greenfield power generation project bonds issued out of Argentina in more than 25 years and included a related US$115 million loan transaction from Siemens Finance to finance equity in the structure (Siemens is also the EPC contractor on the four projects being financed), as well as an additional equity investment by energy developer SoEnergy
- Advised Fibra UNO in its international offering of US$1 billion in senior notes; the offering was divided into two tranches, U.S.$400 million at a rate of 4.869 percent maturing in 2030 and US$600 million at a rate of 6.39 percent maturing in 2050; both were issued in accordance with Rule 144A and Regulation S under the U.S. Securities Act of 1933
- Represented Empresa Nacional de Autopista S.A. (ENA), a company owned by the Republic of Panama, in connection with two separate Rule 144A/Regulation S bond offerings: 1) US$395 million aggregate principal amount of notes and 2) US$600 million aggregate principal amount of notes; the notes were issued by a Panamanian trust and secured primarily by tolls generated from the operation of two of the principal arteries in Panama City – Corredor Sur toll road and the Corredor Norte toll road, respectively; proceeds from each issuance were used to finance the indirect acquisition of the two toll roads by the republic of Panama from the existing concessionaires; the notes are listed on the Panama Stock Exchange
- Represented Scotiabank Perú S.A.A., a leading Peruvian bank, on the establishment of a Rule 144A Diversified Payment Rights securitization program, and the issuance of Series 2010-A and 2010-B bonds thereunder, underwritten by Credit Suisse
- Represented Banco do Estado de São Paulo S.A. – Banespa and Banco Santander Brasil S.A. in connection with the establishment of, and drawdowns under, their joint Diversified Payment Rights program, which is secured by future U.S. dollar and euro payment flows of both banks; this program was named "International Securitization Deal of the Year" by LatinFinance magazine because of its incorporation of dual currency payment flows
- Represented Banco do Brasil S.A., as issuer, and BNDES Participações S.A. and Previdência dos Funcionários do Banco do Brasil (PREVI), as selling shareholders, in connection with the approximately US$900 million primary and secondary Rule 144A equity offering of Banco do Brasil, listed on the BM&F Bovespa
- Represented Credit Suisse and the underwriters in connection with the approximately US$255 million Rule 144A IPO of Banco Pine S.A., a leading Brazilian middle market bank, listed on the BM&F Bovespa
- Represented Merrill Lynch, Morgan Stanley, Caixa – Banco de Investimento and Banco Espírito Santo Investment in connection with the privatization and €1.1 billion Rule 144A IPO of Galp Energia, the Portuguese national oil, gas and energy conglomerate, listed on the Euronext Lisbon
- Represented the Inter-American Investment Corporation (IDB Invest), a multilateral investment bank, as lender of a loan for up to $100 million to ENSA Grupo EPM (Elektra Noreste S.A.), an energy distribution company in the northeast of Panama; the loan will fund a project to improve and expand electrical services to rural and urban areas of ENSA's concession area, benefiting more than 35,000 users, of whom nearly 5,000 lack access to electricity
- Representation of Wells Fargo Bank, N.A., as joint lead arranger and bookrunner and administrative agent on a US$150 million senior unsecured syndicated loan for Banco Latinoamericano de Comercio Exterior S.A. (Bladex), a multinational bank; BNP Paribas Securities Corp. also acted as joint lead arranger and bookrunner on the transaction, together with Wells Fargo
- Represented Fibra UNO on its financing to acquire the "Titan Portfolio" of 74 industrial properties (1.2 million square meters in gross leasable area) and a land reserve (approximately 1 million square meters) in Mexico from real estate developer Finsa
- Represented Wells Fargo Bank, N.A., as sole lead arranger, bookrunner and administrative agent on a $100 million three-year senior unsecured syndicated loan for BBVA Banco Continental, one of the leading banks in Peru
- Representation of Fibra UNO, Mexico's first and largest real estate investment trust, in connection with a $1 billion dual tranche (U.S. dollars and Mexican pesos), five-year sustainability linked revolving credit agreement; the syndicated facility complies with the Loan Syndications and Trading Association's (LSTA) Sustainability Linked Loan Principles and is the first of its kind for a Mexican borrower such as Fibra UNO; acted as U.S. and Mexican counsel; LatinFinance's Deal of the Year Awards, "Financing Innovation of the Year"
- Representation of Banco Bilboa Vizcaya Argentaria (BBVA), a development bank, as lender on a US$200 million facility to Corporación Andina de Fomento (CAF)
- Representation as New York and Colombia counsel for Empresa de Energia de Bogotá (EEB) on its US$880 million purchase of 31.92 percent of stock in Transportadora de Gas Internacional (TGI) from The Rohatyn Group and a US$645.5 million syndicated loan to finance the acquisition
- Represented TGI, a subsidiary of Empresa de Energía de Bogotá S.A. E.S.P. (EEB), in connection with a US$645.5 million syndicated loan to finance the acquisition of 31.92 percent of TGI's own shares from a minority shareholder; BBVA Securities Inc., Itaú Unibanco (Nassau Branch) and the Bank of Nova Scotia acted as joint lead arrangers and joint bookrunners
- Represented Banco Latinoamericano de Comercio Exterior S.A. (Bladex) and Banco Popular Dominicano S.A., as joint lead arrangers and bookrunners, on two senior unsecured bridge loans in an aggregate amount of US$250 million to AES Corporation subsidiaries AES Andres DR S.A. and Empresa Generadora de Electricidad Itabo S.A. in the Dominican Republic
- Represented Banco Latinoamericano de Comercio Exterior S.A. (Bladex), as lead arranger, on a US$105 million syndicated secured loan to finance the acquisition of Produbanco in Ecuador by Grupo Promerica in Panama, secured by certain mandatory dividend flows and share collateral of Promerica and certain of its operating subsidiaries
- Represented Banco Latinoamericano de Comercio Exterior S.A. (Bladex), as lead arranger, on a syndicated loan to finance the acquisition of dairy production assets in Panama by Cooperativa de Productores de Leche Dos Pinos, a Costa Rican cooperative association. Represented Dyer Coriat Holding S.L., the holding company of a Peruvian agriculture and aquaculture group of companies, as borrower, on a US$75 million syndicated loan arranged by UBS
- Represented Banco Latinoamericano de Comercio Exterior S.A. (Bladex), as lead arranger, on various syndicated loans to Latin American banking institutions, including a US$100 million syndicated loan to Banco Interamericano de Finanzas (BanBif), a US$75 million syndicated loan to Banco Internacional de Costa Rica (BICSA) and a US$60 million syndicated loan to Banco Santander Peru
- Georgetown University Law Center, J.D.
- Dartmouth College, B.A., magna cum laude
- New York
- Chambers Global – The World's Leading Lawyers for Business guide, Capital Markets: Latin America-wide (Experts Based Abroad), 2011-2018, 2020; Capital Markets: Debt & Equity (Foreign Experts) USA; Capital Markets: Securitization (Foreign Experts) USA, 2012-2017; Banking & Finance: Latin America-wide (Expert Based Abroad), 2017-2024; Banking & Finance: USA (Foreign Expert), 2017, 2023, 2024
- Chambers Latin America – Latin America's Leading Lawyers for Business guide, Capital Markets, 2012-2021, Banking and Finance, 2016-2024
- IFLR1000, The Guide to the World's Leading Financial Law Firms, Notable Practitioner, Capital Markets: Debt, Capital Markets: Equity, 2019, 2020, 2023
- Holland & Knight Pro Bono All-Star, 2021
- Latin American Corporate Counsel Association (LACCA) Approved Attorney, Corporate/M&A, USA, 2016-2020
- The Legal 500 Latin America, Banking and Finance, 2012, 2013, 2016-2019; Capital Markets, 2012, 2013, 2017-2019
- Rising Star: Structured Finance and Securitization, Expert Guides, 2018
- Latinvex, Latin America's Top 100 Lawyers, 2017-2019
- Guide to the World's Leading Lawyers, Legal Media Group's Expert Guides, Rising Star, 2015
- The Legal 500 USA, Capital Markets: Global Offerings, 2013