Rising Stars

Firms To Watch: Banking and finance

Carvalho, Sica, Muszkat, Vidigal e Carneiro Advogados - CSMV Advogados is praised for its ‘in-depth knowledge of the functioning and evolution of the financial system, with practice head João Fernando Nascimento noted for his transactional and regulatory expertise, particularly in fintech matters.
Led by Roberto Panucci and Diogo Nebias, Mello Torres has a ‘very professionalbanking practice with a strong focus on lending, payments, regulatory and fintech matters.
B/Luz has an active banking practice that includes the ‘attentive’ Luciana Simões Rebello Horta, and is noted for providing ‘technical and efficient solutions‘ to a diverse client roster, including fintechs, robo-advisors and asset management firms.

Banking and finance in Brazil

BMA Advogados

Praised for its ‘above average ability to understand financing transactions‘, BMA Advogados is regularly sought out by major corporate borrowers in complex and high-value deals. The firm’s capabilities encompass a broad range of work, including cross-border restructurings, debtor-in-possession financings, asset-backed securitisations, acquisition financings, and project finance mandates. The practice is led by the versatile and ‘commercially pragmaticCamila Goldberg, who brings extensive experience in structured finance and capital markets matters. Rafael D’Avila Dutra is a recognised expert in project finance, while Anna Carolina Malta regularly represents investment funds and fund managers, and Felipe Prado focuses on payment institutions regulations. With solid credentials in structured finance involving investment funds and securitisation, Jane Goldman is praised for her ‘knowledge of the capital markets and ability to lead on matters’.

Practice head(s):

Camila Goldberg; Rafael Dutra; Felipe Prado


Testimonials

‘The firm has partners with a level of seniority not found in competitors. The team has an above average ability to understand financing transactions and the client’s business.’

‘Jane Goldman Nusbaum: knowledge of the capital markets and ability to lead on matters.’

‘Excellent law firm; one of the leaders in transactional matters; excellent team.’

‘Camila Goldberg is a commercially pragmatic lawyer and provides excellent quality advice.’

Key clients

BTG Pactual


XP Investimentos


BHP Billiton Group


Agence Française de Dévéloppement


BHG – Brazil Hospitality Group


GTIS Partners LP


G5 Investimentos


Alter Domus (US)


Enforce Gestão de Ativos


Quadra Capital


Urca Capital Partners


Morgan Stanley


BanQi Instituição de Pagamento


Galleria Correspondente Bancário Sociedade Unipessoal (Galleria Bank)


Work highlights


  • Acted as deal counsel for Banco BTG Pactual and Banco Pan in connection with the securitisation of Brazilian bank credit notes (Cédulas de Crédito Bancário – CCBs) linked to the Government Severance Indemnity Fund (Fundo de Garantia do Tempo de Serviço – FGTS).
  • Acted for Morgan Stanley Senior Funding, as lender and lead arranger, and a syndicate of financial institutions, as lenders, in the negotiation and extension of a $500m secured credit facility to 3R Lux for financing part of the acquisition of the Potiguar Cluster from Petrobras.
  • Assisted Banco BTG Pactual and Enforce Gestão de Ativos in the acquisition of a non-performing home equity loan portfolio originally held by PREVI – Caixa de Previdência dos Funcionários do Banco do Brasil.

Campos Mello Advogados in cooperation with DLA Piper

Praised by clients for its ‘technical knowledge, availability and assertiveness’, Campos Mello Advogados in cooperation with DLA Piper maintains a versatile banking and finance practice, which is well versed in both transactional and regulatory mandates. Drawing on its association with an international heavyweight, the firm consistently facilitates cross-border transactions for major banks and borrowers, including multilateral agencies, private credit funds, and financial services companies. Roberto Vianna do R. Barros, whose expertise spans capital markets, project finance, structured finance, and regulatory matters, and Jorge Luiz Barbieri Gallo, who handles debt capital markets, non-performing loans, securitisations, and restructurings, jointly head up the department. Flávia Cavalcanti Ferreira stands out at the associate level. Former Veirano Advogados‘ partners Rogerio Campos and Marcelo Mattos joined the firm in July and September 2023, respectively.

Practice head(s):

Roberto Barros; Jorge Gallo


Testimonials

‘Technical knowledge, availability and assertiveness in providing services.’

‘Jorge Gallo and Roberto Barros are highly trained and experienced professionals, who are available when needed.’

Key clients

Deutsche Bank


Starboard Restructuring Partners Consultoria em Negócios


Banco Santander (Brasil)


Banco RCI Brasil


Grupo Rio Alto


Aymoré Crédito, Financiamento e Investimentos


Hyatt Hotels Corporation


Work highlights


  • Advised John Textor, businessman and major shareholder of SAF Botafogo, Crystal Palace and RWD Molenbeek, on the corporate reorganisation of the legal entities comprising his investments in soccer clubs and on the acquisition of the corporate control of Olympique Lyonnais Groupe.

Candido Martins Advogados

The well-regarded finance team at Candido Martins Advogados fields a solid selection of ‘experienced professionals who propose customised solutions for complex’ transactions. Led by founding partner Henrique Martins, the team offers support to lender and borrower clients in debt refinancings, asset-backed securitisations, local bond issuances, as well as acquisition and leveraged finance. Daniel Rodrigues Alves is noted for his strong proficiency in leveraged finance and private equity, while senior associate Raphael Pereira Arantes Pires has ‘extensive experience in capital markets’. Former practice head Renata Simon is no longer at the firm.

Practice head(s):

Henrique Martins


Testimonials

‘A firm with a lot of expertise in M&A and financing transactions that has experienced professionals who propose customised solutions for complex cases, in addition to being competitive in terms of cost.’

‘The firm and its lawyers have full knowledge of the matters that are dealt with in the negotiations that are contracted. Very attentive and super helpful. Additionally, I noticed that during the negotiations the lawyers involved were very reasonable with respect to our demands and the demands of the counterparties.’

‘Raphael Pereira Arantes Pires is a lawyer with extensive experience in capital markets. Experience and quality in the execution of the works. A differential is their technical quality. Very pro-business and reasonable during contract negotiations.’

‘The firm assisted us in capital market structuring processes in an exemplary manner.’

Key clients

Companhia Siderúrgica Nacional (CSN)


Intercement South Africa


Companhia Nacional de Álcool (CNA)


GEF Capital Partners


Mtel Telecomunicações


Intercement Participações


Intercement Brasil


Selfit Academias Holding


Natural One Gestão Patrimonia


ENC Energy Brasil e Participações


Unity Participações


Hemisfério Sul Investimentos


G5 Partners


Luminae


Riza Asset Management


Galapagos Capital


Cerc Central de Recebíveis


Work highlights


  • Advising Intercement Participações on the issuance of R$70m in new promissory notes under restricted public offering to professional investors.
  • Assisting DG 1 Ventures in the issuance of commercial papers under private offering to professional investors.
  • Advising Zigpay on an issuance of commercial notes to finance the expansion of the group’s activities.

Cascione Pulino Boulos Advogados

Cascione Pulino Boulos Advogados fields a team ‘with deep knowledge of the functioning and evolution of the financial market, and related innovations’ that is praised for its ‘very detailed and deep analysis‘. A strong force in fintech, payments and regulatory matters, the group attracts instructions from major banks, financial institutions, and technology providers, with advice ranging from partnership agreements through to product launches. On the transactional side, the practice also assists with syndicated loans, secured transactions and project financing. Lead lawyers include founding partner Fábio de Souza Aranha Cascione, who has over two decades’ experience in domestic and cross-border deals, and Gabriel Capella, a name to note for structured finance. Marcelo Padua Lima shines in regulatory and payments-related matters. The team was strengthened by the arrival of Ana Paula Calil from Cescon Barrieu in June 2023; she specialises in project, structured and acquisition financing.

Practice head(s):

Fabio Cascione; Marcelo Padua Lima; Gabriel Capella


Testimonials

‘A team with deep knowledge of the functioning and evolution of the financial market, and related innovations. Very detailed and deep analysis.’

‘Marcelo Padua is always ready and attentive to assist, both in routine matters and in more complex issues. A team that is committed to quality and takes its work very seriously. It forms a team of very responsible and reliable professionals, who mirror it.’

‘The team has mastery and technical knowledge in the payments area and is capable of translating the main points of matters objectively.’

Key clients

Banco Santander


C&A Modas


Google Brasil Pagamentos


Banco Votorantim


Banqi Instituição de Pagamento


Linked Store Brasil Hospedagem de Sites e Desenvolvimento de Softwares (Nuvemshop)


Banco C6


Itaú BBA


Raízen Energia


Work highlights


  • Advised Banco Santander as coordinator on a R$700m issuance by Banco Toyota do Brasil.
  • Advised C&A on the launch of the C&A Pay project, including support in its authorisation process as a direct credit company with the Central Bank of Brazil.
  • Assisting Google’s payments entities in Brazil in their offering of different payment products and services to Brazilian users.

Cescon Barrieu

Cescon Barrieu is a top choice for transactional and regulatory banking and finance matters, where it offers a comprehensive range of expertise. Showcasing an impressive track record in cross-border financings, including advice on high-value public sector loans, the firm is regularly engaged by borrowers and lenders in large-cap acquisition and structured financings, refinancings and trade finance agreements. The group’s regulatory expertise also makes it a popular destination for fintech and payments-related advice. Based in Rio de Janeiro, Maurício Teixeira dos Santos is a key contact for major banks, corporates, funds and multilateral agencies. In São Paulo, Alexandre Gossn Barreto leads on regulatory matters, while Daniel Laudisio is particularly active on the transactional side. Ana Paula Calil is no longer at the firm. Alexandre Vargas stands out at the associate level.

Practice head(s):

Daniel Laudisio; Mauricio Santos; Alexandre Barreto


Key clients

Banco Santander


Canadian Imperial Bank of Commerce – CIBC


Ant Group / Alipay Brazil


ING


Banco Bradesco


Bank of America


Federação Brasileira de Bancos – FEBRABAN


Natura & Co Pay


Algar Telecom


Itaú Unibanco


Companhia de Saneamento Básico do Estado de São Paulo – SABESP


BRK Ambiental


Goldman Sachs


JP Morgan


Work highlights


  • Advised JPMorgan Chase Bank, Goldman Sachs Bank USA and other members of the syndicate of lenders on the Latam Airlines DIP to exit financing, which enabled the airline to emerge from Chapter 11.
  • Advised Brookfield Asset Management (through its SPV Cedar Locações e Investimentos) on the financing for the acquisition of Unidas Locadora from Localiza.
  • Engaged by Federação Brasileira de Bancos – FEBRABAN to advise on regulatory and corporate matters in connection with the implementation and permanent operation of the Open Finance (formerly Open Banking) infrastructure in Brazil.

Demarest Advogados

Demarest Advogados has a highly experienced team, valued for its transactional and regulatory advice to banks, funds, and fintechs. The team, which is especially adept in open banking and the development of digital platforms, is led by the ‘exemplaryFabio de Almeida Braga. Braga possesses a strong track record in syndicated loans and debt restructurings, and is often retained by financial services companies in product launches. In addition to its regulatory work, the team is well positioned to handle a variety of transactional matters, including project and trade finance, securitisations, and structured products.

Practice head(s):

Fabio de Almeida Braga


Testimonials

‘The team delivers completely unique proposals.’

‘Partner Fabio Braga is an exemplary professional who delivers tailormade work.’

Key clients

SAAM Towage Brasil


FCA FIAT CHRYSLER AUTOMÓVEIS DO BRASIL


Honda do Brasil Automóveis


Banco Honda


Yamaha Motor do Brasil


Banco Yamaha Motor do Brasil


Tecumseh do Brasil


Latam Airlines Group


Smart RJ


Sky Serviços de Banda Larga


Syngenta Proteção de Cultivos


GOL Linhas Aéreas


Ford Motor Company Brasil


NH Latam Investments & Securities


Stone Pagamentos


KEO World


Mosaico Negócios de Internet S.A|StartMeUp Crowdfunding Sistema para Investimentos Colaborativos


Transunion


PNC Bank, National Association


Bank of America


Banco Agibank


Raiffeisen Bank Internacional


Companhia Mineira de Açúcar e Álcool – CMAA


Colbrás Indústria e Comércio (Softcaps group)


PGS Suporte Logístico e Serviços,(PGS Group)


Banco Inter


Establishment Labs Brasil Produtos para Saúde


Grupo Nuveen


Work highlights


  • Advised LATAM Airlines Group  and its Brazilian subsidiaries on matters of Brazilian law with respect to the group’s DIP-to-Exit Financing (DTE Financing).
  • Advising Ford Motor in the development of a new evergreen securitisation process through a new structure, which includes the creation of a credit assignment and securitisation for Ford Montadora and Banco Ford.
  • Acted as Brazilian legal counsel to Open Plaza Corp and others in a $506m credit agreement granted by AT&T Services to Open Plaza for the financing of its acquisition of certain companies previously belonging to AT&T Group.

Dias Carneiro Advogados

Dias Carneiro Advogados regularly acts as Brazilian counsel to international banks and multilateral lenders in cross-border financings and debt restructurings. The team’s expertise extends to acquisition, trade, and project finance, particularly in key sectors such as energy, natural resources, and agribusiness, where it also represents several borrowers. Practice head Thiago Vallandro Flores is counsel of choice for a variety of clients, including multilaterals and development banks, in an array of financing transactions. With a keen focus on the infrastructure sector, Paulo Leme manages a balanced workload, where project finance features alongside capital markets deals. Covering project, export, acquisition and corporate finance, Gustavo Junqueira is especially active in the energy and infrastructure segments.

Practice head(s):

Thiago Vallandro Flores


Testimonials

‘Personal service; knowledge of cross-border project finance; ability to provide concise answers to complicated questions and reasonably defend positions regarding unclear legal issues; ability to respond quickly.’

‘Thiago Vallandro Flores and Gustavo Junqueira are recommended.’

Key clients

Inter-American Development Bank / Inter-American Investment Corporation


China Development Bank Corporation


Voltalia Group


Banco KEB Hana


USJ – Açúcar e Álcool


International Finance Corporation


EDP Renováveis


Corporación Interamericana para el Financiamiento de Infraestructura


Biosev


DNB Bank


Work highlights


  • Advised IDB Invest on a $100m facility to Hospital Albert Einstein.
  • Advised Société de Promotion Et de Participation pour la Coopération Economique on a $40m facility to Louis Dreyfus Company Sucos.
  • Advised IDB Invest, IDB, JICA and IFC on the restructuring of $800m financing granted to Klabin and on the second disbursement of the financing.

Felsberg Advogados

Felsberg Advogados has made a strong push into the banking and finance space. With partner Ricardo Higashitani firmly embedded into the team, the firm’s offering in cross-border syndicated loans and other forms of complex financing and debt restructuring has been significantly enhanced. The practice has a strong foundation in project and aviation finance, with Maria Da Graça Pedretti playing an active role in these areas. The team acts for major banks, multilateral lenders, and borrowers, which not only instruct it in transactional work, but also seek advice on administrative proceedings and interactions with the main financial service regulators.

Practice head(s):

Maria da Graça Pedretti; Ricardo Higashitani


Key clients

Bank Leumi USA


Renova Energia


Paranapanema


Grupo Moreno


Standard Bank Group


Stifel Bank & Trust


Atrafin


The Standard Bank of South Africa Limited


Vantiva


Armco do Brasil


Work highlights


  • Assisted Paranapanema in renegotiating of $479m in financial debts.
  • Advising Standard Bank of South Africa on a ZAR500m loan to InterCement South Africa Proprietary Limited, as well as subordination instrument and guarantee by InterCement Participações.
  • Advised Armco on the renegotiation of R$315m in debts arising from the issuance of debentures and banking credit certificates.

FAS Advogados, in cooperation with CMS

FAS Advogados, in cooperation with CMS provides an ‘excellent service’ to financial institutions, multilateral organisations, credit funds, development banks and credit agencies, among other clients. The team, which is praised for its ‘technical depth‘, stands out for its fintech expertise, covering regulatory and commercial matters. The lawyers are also highly experienced in dealing with the relevant Brazilian regulators on behalf of a diverse clientele, including major banks, start-ups, and international fintech and payments companies. The practice is under the joint leadership of Paulo Mertz Focaccia, who has a wealth of experience in the intersection of finance and technology, and Vicente Piccoli Medeiros Braga, whose ‘deep understanding of banking regulatory issues‘ is rated by clients. Pedro Duarte Pinho stands out at the associate level. Drawing on its cooperation with international outfit CMS, the team is also able to assist clients in cross-border mandates.

Practice head(s):

Paulo Mertz Focaccia; Vicente Piccoli Medeiros Braga


Testimonials

‘The banking team at FAS Advogados provides an excellent service fully focused on the needs of each client. The innovation of the service provided is linked not only to the technical knowledge of the team, which is exceptional, but to the understanding of how to help in the daily life of the client and meet demands in an agile and precise way.’

‘Although the entire team is highly qualified, the following stand out: Vicente Piccoli M. Braga is a highly available team leader, technically qualified and concerned with providing a differentiated and personalised service.’

‘FAS has a different culture than traditional law firms and this translates into more engagement on the part of male and female lawyers, regardless of their seniority level. In addition to being very committed to responsiveness and quality, the team that assists us always has a smile on their face. Partners are open to proposing alternative fee structures that meet the needs of their clients and are flexible in adhering to the communication channels, in order to optimise communication between the in-house team and the firm.’

‘Paulo Focaccia and Vicente Braga are extremely talented and experienced, in addition to being always available. The banking team as a whole is of high quality, works autonomously and delivers amazing results. And it is important to point out that the firm continues to invest in the banking and financial area, bringing in new talents to compose the team so as not to leave clients unattended.’

‘FAS’s main strength is the dedication of the regulatory team to understanding the client’s business, combined with the technical depth provided in each analysis. The team members, from the youngest to the most senior, have a technical profile and are attentive to details.’

‘Vicente Braga has a deep understanding of banking regulatory issues and has structured a team of associates with a similar technical profile to his own.’

‘FAS is a firm that goes above and beyond in assisting its clients. The team took its time in assessing our business model and gave key practical advice on how to approach the market.’

‘We worked with Vicente Piccoli Medeiros Braga and Pedro Duarte Pinho. The quality of service was excellent and the end product exceeded our expectations. They understood our sector and business clearly before delivering on the final product.’

Key clients

Banco Sorocred


Banco C6


Banco de Lage Landen Brasil  – ‘DLL’


Banco Brasileiro de Créditos – ‘Banco BBC’


BancoSeguro


Banco Triângulo – ‘Tribanco’


Banco Agibank


BBC Pagamentos  ‘BBC Digital’


CERC Central de Recebíveis


Santana Financeira CFI


PagSeguro Internet Instituição de Pagamento  – ‘PagSeguro’


Clara Pagamentos


Rapyd Brazil Soluções de Pagamento


Accesstage Tecnologia


Google Internet Brasil


JHSF Meios Eletronicos


ByteDance Brasil (TikTok)


Nvio Brasil (Bitso)


Liber Capital


Fundo Garantidor de Créditos – FGC


Saison Capital


PaGol SCD


Cora Pagamentos


Mercado Pago Instituição de Pagamento


Zimpler Pagamentos


Novadax Brasil Pagamentos


Trustly Group


CBSM – Companhia Brasileira de Soluções de Marketing S.A – ‘Dotz Pay’


Paraisopolis’ Union of Residents and Merchants


Paygo Administradora de Meios de Pagamento


Payu Brasil Intermediação de Negócios


Acqio Holding Participações


Transfeera Pagamentos


Avista  Administradora de Cartões de Crédito


Sinlog Tecnologia em Logística  – ‘Trizy’


Ifood.com Agência de Restaurantes Online  – ‘iFood’


FreteBras Internet e Serviços  – ‘Frete.com’


Migo Serviços de Tecnologia  – ‘Migo Money’


Inswitch Tecnologias Financeiras


Companhia Brasileira de Soluções e Serviços – ‘Alelo’


Oppens Sociedade de Empréstimo entre Pessoas


Global 81 Brasil Correspondente Cambial  – ‘Global 66 Brasil’


Sumup Sociedade de Crédito Direto


Nuvei Group


YOP do Brasil Digital  – ‘WabiPay’(Coca-Cola Group)


Pagaleve Tecnologia Financeira


Work highlights


  • Assisting the fintech credit company Oppens in a range of commercial and regulatory issues.
  • Advising Bitso on the structuring of a product to offer payments with crypto currency for any Brazilians visiting Argentina.
  • Assisting Banco Seguro in the structuring of its home broker and securities-related products.

H Naves Advogados

H Naves Advogados is a relatively new boutique with a particular focus on banking regulation. The firm is a ‘safe haven’ led by the ‘super experienced’ name partner Helen Naves, an ‘excellent lawyer’ for ‘complex matters of financial and capital markets’. Clients include major banks, investment funds and fintech companies, who rely on the team for its comprehensive expertise in domestic and cross-border regulatory matters, as well as related areas such as white-collar crime, compliance and investigations.

Practice head(s):

Helen Naves


Testimonials

‘H. Naves Advogados is a boutique law firm led by its founder Helen Naves. An excellent lawyer, super experienced and familiar with complex matters of financial and capital markets. The most special thing about the firm is the very personal service provided by Helen Naves.’

‘Helen Naves is super experienced, calm to work with, proactive, very accessible and very reasonable in all her legal positions and assessments.’

‘H. Naves Advogados is our safe haven when we need any advice on banking or financial matters. It is a specialised team with highly renowned and competent professionals.’

Key clients

Peninsula/O3 Capital


Banco MUFG


Prisma Capital


Gol Linhas Aéreas


Univen Healthcare


The Bank of Nova Scotia


Lefosse Advogados

Commended by clients for its 'in-depth knowledge of the regulations affecting financial institutions in Brazil and globally', the banking and finance practice at Lefosse Advogados is singled out for its transactional capabilities. The firm is home to highly experienced partners well-versed in debt capital markets, securitisations, and various forms of financing deals such as structured, asset, and project finance. Cross-border financings and restructurings also feature on the team's impressive workload, which is further populated by regulatory mandates involving the payments and fintech sectors. The firm’s roster of partners includes Roberto Zarour, who specialises in structured finance, Kenneth Ferreira, a key contact to note for regulatory issues, Ricardo Prado, who focuses on financial and capital markets transactions, and Renata Cardoso, who alongside senior associate Fabio Perez, is praised for her ‘quick deliveries and extreme technical quality of work‘. Miriam Signor is proficient in project finance.

Practice head(s):

Renata Cardoso


Testimonials

‘Quick deliveries and extreme technical quality of work – Renata Cardoso and Fabio Perez stand out.’

‘Lefosse has a team which is very specialized in banking law; it has in-depth knowledge of the regulations affecting financial institutions in Brazil and globally. The team efficiently advises on the structuring and negotiating of financial and capital market products.’

‘Renata Cardoso is always ready to help and quick to respond. She is fierce in defending her client in negotiations, but capable of reaching good agreements and giving in when the fight is counterproductive. She is a good person to have at your side at the negotiating table.’

Key clients

PayPal Serviços de Pagamentos


Picpay


Commerzbank


Syngenta


Landesbank Baden-Wür


BP Bunge


Cargil


ING Bank


Bank of America


Payly


Marfrig


BMW Finance


Morgan Stanley


Banco Alfa


Quadra


Work highlights


  • Advising Alliance to End Plastic Waste on a transnational ESG financing to an entity within the Valoren Recuperadora de Resíduos group.
  • Advising Monte Pascoal Holding and Banco Itaú BBA on a R$164m bond offering to help finance Monte Pascoal’s acquisition of Enerbrás Centrais Elétricas.
  • Assisting V2I Energia and Banco Itaú BBA in a R$120m commercial note offering to leverage a transmission line entity in a bridge transaction.

Lobo de Rizzo Advogados

Lobo de Rizzo Advogados houses a ‘highly qualified‘ banking and finance team, which is adept in a broad range of financing transactions, including syndicated loans, acquisition finance, and debt restructurings. A popular choice for both borrowers and lenders, the team has notable strength in deals in the energy and infrastructure sectors, regularly advising on the financing of solar and wind power projects. Fabrizio De Oliveira Sasdelli is frequently instructed by corporations, financial institutions and multilaterals in structured finance deals, while Milton Pinatti is particularly noted for his experience in project finance and debt restructurings. Other key individuals include debt capital markets expert Maria Costa Neves MachadoGustavo Cunha, who focuses on the funding of infrastructure projects, and André Ramos Bedim.

Practice head(s):

Fabrizio de Oliveira Sasdelli; Milton Pinatti; Gustavo Silveira Cunha; Maria Costa Neves Machado; André Ramos Bedim


Testimonials

‘Lobo de Rizzo Advogados has a highly qualified team with a differentiated response time.’

Key clients

Hidrovias International Finance


Nova Olinda e Lapa (CGN – Brasil Energia e Participações )


CGN Santa Vitória do Palmar


MEZ 1 Energia


CGN Complexo Morrinhos


Lagoa do Barro (CGN)


Ace Capital – Rising Stars


Work highlights


  • Assisted Banco Itaú BBA, Banco Santander (Brasil) and Banco ABC Brasil in the R$800m financing to the State of Pernambuco with a guarantee from the Union.
  • Assisting Grupo Soltec Brasil in the issuance of bank guarantees by Banco Santander (Brasil) and Banco BTG Pactual, to secure the obligations of Usina de Energia Fotovoltaica Araxá and Usina de Energia Fotovoltaica Pedranópolis in favour of Banco Nacional de Desenvolvimento Econômico e Social (BNDES).
  • Assisted Itaú BBA in the issuing of bank guarantees for MEZ 5 Energia in favour of the debenture holders of MEZ 5’s 1st issuance, represented by Pentágono Distribuidora de Títulos e Valores Mobiliários.

Machado Meyer Sendacz e Opice Advogados

Machado Meyer Sendacz e Opice Advogados is noted for providing ‘excellent and high quality services’ to a wide range of clients, including major domestic and international banks, payment and financial institutions, fintech companies, and investment funds. The firm has developed an excellent reputation for high-value cross-border acquisition and project financings, and is well versed in sophisticated refinancings and structured products. Its fintech capabilities are also noteworthy; the group is seen with great regularity advising on strategic partnership agreements and product launches. Adriano Schnur leads the well-regarded team, which also includes Nei Schilling Zelmanovits, a veteran in transactional, regulatory and administrative matters involving the financial industry, and the recommended Eduardo Avila de Castro, who is deeply knowledgeable of banking and insurance regulations. Structured finance is a core area of activity for Rafael Carretero, while Bruno Racy primarily handles financings involving the infrastructure sector and regulated markets. Renato Gomes Ribeiro Maggio is also singled out for his combined ‘knowledge of credit/civil code and banking regulation’.

Practice head(s):

Adriano Schnur Ferreira


Testimonials

‘Machado Meyer Sendacz e Opice Advogados provides excellent and high quality services. The easy access to the firm’s partners and the agility in responding to queries, opinions and memorandums set them apart in the Brazilian market. The firm stands out for keeping up with the world’s technological development and advancement, always being up to date with the main trends and norms that define the subject.’

‘Eduardo Castro – I recommend him for excellence in service, intellectual quality, legal creativity and availability.’

‘Extremely senior partners with quick responses. Associates follow the same line. Always first on the list when we need help.’

‘Renato Maggio manages to unite knowledge of credit/civil code and banking regulations.’

‘Nei Zelmanovits, despite being extremely senior, responds with the speed of newly appointed partners. This speed and enormous knowledge of banking regulations makes us extremely confident in his work.’

Key clients

Mercado Pago / Mercado Crédito (Grupo Mercado Livre)


Banco do Brasil


PayPal


C6 Bank


J.P. Morgan


BTG Pactual


Goldman Sachs


PagSeguro


Travelex Bank / Travelex Confidence (Grupo Travelex)


IFood Benefícios


Visa


CEF – Caixa Econômica Federal


IFC – International Finance Corporation


NDB – New Development Bank


IDB – Interamerican Development Bank


Santander


Banco Inter


Banco Votorantim


Fundo Garantidor de Crédito (FGC)


Febrabran


Work highlights


  • Assisted J.P. Morgan, JPMorgan Chase Bank, Banco Citibank, and Citibank in a R$8.6bn loan to Cosan for the acquisition of shares issued by Vale.
  • Advised Bank J. Safra Sarasin on a multi-billion cross-border loan to Marfrig Global Foods in the context of its corporate reorganisation.
  • Advising Travelex Banco de Câmbio and Confidence Corretora de Câmbio on a debt restructuring.

Mattos Filho

Mattos Filho has an ‘extremely approachable and cordial‘ banking and finance team with experience across the full range of transactional, regulatory and contentious matters. The firm acts for an impressive mix of domestic and international banks, and has been involved in several high-profile borrower-led financings for international clients, such as Norsk Hydro and Apollo Global Management. The ‘very technical‘ group, which is commended for its ‘solid practical knowledge of matters related to the debt market and infrastructure‘, recently handled several large-cap financings in the energy sector. With a wealth of experience in all types of lending transactions, from structured finance to syndicated loans, Frederico Kerr Bullamah is widely recommended by clients for his ‘great technical competence and availability’. Other key partners include Bruno Tuca, a reference for debt transactions, special situations and securitisations, and structured finance specialist Marina Anselmo Schneider. Pablo Sorj and Bernardo Môcho are noted on the project finance side, while Flavia Magliozzi handles deals in the financial and capital markets. Paulo Brancher and Marina Procknor are noted for their in-depth knowledge of banking regulatory matters.

Practice head(s):

Bruno Tuca; Bernardo Môcho; Flavia Magliozzi; Frederico Kerr Bullamah; Marina Anselmo; Pablo Sorj; Paulo Brancher; Marina Procknor


Testimonials

‘The team is experienced in all types of finance, with a focus on structured finance and special situations. In addition to the very high technical knowledge, they are always able to think outside the box to make complex transactions possible. In addition, they are extremely approachable and cordial.’

‘Frederico Bullamah is the highlight; the difference to competitors lies in his ability to make complex transactions simple for clients and to provide effective and quality services promptly.’

‘Mattos Filho advises us in several areas, including financing and infrastructure. We have an excellent relationship with the firm. I partners and lawyers are very technical and have solid practical knowledge of matters related to the debt market and infrastructure – including our sector of activity.’

‘Frederico Kerr Bullamah is a professional with solid experience in financing transactions (debt capital markets, structured finance and restructuring/special situations). He has great technical competence and availability, handling transactions with excellence. He is very proactive and creative in solving problems. Another relevant partner is Pablo Sorj and also the associate Karina Vasconcelos in New York.’

‘Frederico Kerr Bullamah is competent, involved, dedicated and qualified.’

‘Mattos Filho stands out for its multidisciplinary approach and familiarity with topics related to our sector of activity and the company’s business.’

‘I highlight the performance and technical quality of partner Frederico Bullamah. Having worked for many years with structured/complex financing, Frederico also has excellent technical expertise in subjects complementary to his main area of activity (e.g., banking, debt capital markets, restructuring/insolvency and/or negotiations with contentious aspects and in particular situation/credit solutions). This experience allows Frederico to offer appropriate solutions, with solid foundations, for our needs.’

‘Frederico Bullamah is a lawyer with in-depth technical knowledge. He is available and concerned about the quality of work. This combination of knowledge and performance is unique and makes him stand out in negotiations.’

Key clients

Geru Sociedade De Crédito Direto


Google Brasil Internet


Mercado Livre


Scotiabank


Stone Instituição de Pagamento


Câmara de Comercialização de Energia Elétrica – CCEE


Inter-American Development Bank – IADB


InterCement Brasil


Banco Itaú BBA


XP Corretora de Câmbio Títulos e Valores Imobiliário


Nordex Energy Brasil – Comércio e Indústria de Equipamentos


HSBC


Société de Promotion et de Participation pour la Coopération Economique  – Proparco and DEG – Deutsche Investitions- Und Entwicklungsgesellschaft


GOL Linhas Aéreas Inteligentes


QATAR Airways Investments (UK)


Farallon Latin America


TAG Tecnologia para o Sistema Financeiro


Work highlights


  • Advising Norsk Hydro Brrasil on the $200m financing of its Fuel Switch Project.
  • Advised Inter-American Investment Corporation on a $250m financing to the Simpar Group.
  • Advised Apollo Global Management on the $1.51bn financing required for its investment into New Fortress Energy and the related formation of the joint venture Energos Infrastructure.

Pinheiro Guimarães

Pinheiro Guimarães acts for an impressive mix of major borrowers and lenders, including banks, development agencies, corporates and state entities. Showcasing a varied transactional expertise that covers domestic and cross-border acquisition financings, structured products, syndicated loans, refinancings and trade financings, the multifaceted practice is also singled out for its strong track record in project and asset finance. Ivie Moura Alves is a strong performer in mandates involving syndicated loans and debt capital markets. Fábio Yanitchkis Couto is a key contact for distressed debt and structured finance. The latter is a core area of practice for Paula Beatriz Carneiro Pessôa, while Roberta Giamattey Pimentel Fonseca Kelley is especially recommended for project finance. The team is led respectively out of Rio de Janeiro and São Paulo by Francisco José Pinheiro Guimarães and Plinio Pinheiro Guimarães Neto, both of whom are references in the banking and finance market. Up-and-coming partner Marcela Taquette Vaz is developing a good reputation for cross-border loans and bond offerings.

Practice head(s):

Plinio Pinheiro Guimarães; Francisco José Pinheiro Guimarães; Ivie Moura Alves


Testimonials

‘Pinheiro Guimarães has a broad and technical team, capable of working in the most diverse angles related to investments.’

‘Communication between the firm and the client works very fluidly, for any topic, from updating records to billing. The firm understands the bureaucracy, obstacles and deadlines of a multinational client, showing the ability to adapt and be flexible.’

‘Technical accuracy and perfect execution of documentation, in addition to proximity to clients.’

‘Fábio Couto: intelligent, dedicated, assertive, fast and very well-prepared, in addition to always being very close to the client.’

Key clients

Citibank


Itaú BBA


Credit Suisse


BTG Pactual


International Finance Corporation (IFC)


JP Morgan


Santader


HSBC


Banco Votorantim


Bradesco


Goldman Sachs


Klabin


General Motors


XP Investimentos


Saxo Bank


Itaú Unibanco


Ioschpe


B3 – Brasil, Bolsa, Balcão


Suzano Papel e Celulose


Globo Group


Andrade Gutierrez


Enel


Moneda Asset Management


Redwood Capital Management


Rimrock Capital Management


Rede D’Or


EDF Energies Nouvelles


Vale


Banco Safra


Work highlights


  • Counsel to Société Générale, as shareholder of Concessionária Linha Universidade, in connection with a R$9.6bn financing from Banco Nacional do Desenvolvimento Econômico e Social – BNDES to the university.
  • Acted for BMO Capital Markets, Citigroup Global Markets, Credit Agricole Securities (USA), MUFG Securities Americas, Scotia Capital (USA) and SMBC Nikko Securities America in a $1.3bn bond offering by Vale, Vale Overseas Limited and Vale Canada Limited.
  • Advising Andrade Gutierrez Group on a debt restructuring concerning a $200m+ notes offering due 2021 and 2024.

Pinheiro Neto Advogados

Rated for its ‘deep technical knowledge of the Brazilian banking market‘, Pinheiro Neto Advogados has established a top notch reputation for its wide range of services to the financial sector. Combining transactional and regulatory expertise, the team has been particularly active on the corporate side, advising on an impressive range of novel transactions in the fintech and crypto space, a notable example being Binance’s acquisition of the Brazilian broker-dealer Sim;Paul Investimentos. Borrowers and lenders continue to turn to the firm for assistance with the full spread of matters, including securitisations, acquisition financings, project finance and debt restructurings. Regulatory partner Bruno Balduccini has developed ‘exceptional‘ credentials for fintech and crypto-related work. Transactional specialist Jose Luiz Homem de Mello brings together a wealth of experience in financings and M&A, while Fernando Ruiz de Almeida Prado specialises in structured products. Partners Tatiana Mello Guazzelli and Raphael Palmieri Salomão are other names to note for fintech-related work. Yuka Ono is also well regarded.

Testimonials

‘Pinheiro Neto has lawyers who are highly specialised in regulatory and banking matters. Certain partners are always at the forefront of discussions with regulators and are able to provide their clients with relevant legal analyses that impact banking business.’

‘Excellent firm with extensive market knowledge and highly qualified professionals.’

‘Bruno Balduccini is exceptional. Always available, immense knowledge of the sector and regulators, and often with solutions ahead of the market.’

‘Deep technical knowledge of the Brazilian banking market, including regulation by the Central Bank of Brazil.’

‘PN has notable banking regulatory knowledge and practical sensitivity, differentiating itself from other teams. It provides agile and objective advice.’

‘Bruno Balduccini’s years of experience are incredible and add a lot of value to the service provided. Both Bruno and Fernando Ruiz de Almeida Prado know a lot not only about regulation, but also from an operational and economic point of view. This practical knowledge and economic rationale are very important and make all the difference.’

Key clients

Nubank


Bradesco


BTG Pactual


Binance


JP Morgan


Creditas


Crypto.com


MasterCard


Santander


Safra


Work highlights


  • Advising the global crypto exchange Binance on a shares purchase agreement with the current shareholders of the Brazilian broker-dealer Sim;Paul Investimentos.
  • Advised Banco Safra on a purchase and sale agreement with Administradora Fortaleza to acquire corporate control of the Conglomerado Financeiro Alfa.
  • Advising Creditas Holding Financeira as buyer and Banco Andbank as seller in the negotiation of Banco Andbank’s acquisition by Creditas, a digital platform that acts as a correspondent bank and direct credit company.

Santos Neto Advogados

Santos Neto Advogados handles a broad range of financing transactions on behalf of domestic and international banks. The firm’s strong reputation in trade finance is built upon its solid understanding of the agribusiness and commodities sectors. The team has been involved in several significant debt restructurings, serving as creditor’s counsel, and is experienced in syndicated loans, debt capital markets, and high-value trade finance deals. Domicio Dos Santos Neto leads the team which was bolstered by the recruitment of new partner Nicolau Nardo from the Brazilian branch of Dutch investment bank ABN Amro in October 2022.

Practice head(s):

Domicio dos Santos Neto


Key clients

Corporacion Andina de Fomento – CAF


ING Bank N.V. São Paulo Branch


IDB


Banco C6


ABN AMRO Bank


Natixis


Crédit Agricole Corporate Investment Bank


Sumitomo


Rabobank


Bradesco


Work highlights


  • Advised Sucden on a DIP financing granted to Moreno Group to help conclude its judicial reorganisation proceeding.
  • Advised Caramuru on its $150m international export securitisation programme.
  • Assisted Rabobank in a senior uncommitted secured and sustainability-linked pre-facility to Sucafina.

Stocche Forbes Advogados

Stocche Forbes Advogados handles a variety of debt transactions, ranging from complex acquisition financings and structured products to project finance and debenture offerings. The firm fields a strong selection of highly experienced and specialist banking and finance partners, including Marcos Ribeiro, an expert in debt capital markets, Guilherme Forbes, a key contact for oil and gas clients, Henrique Filizzola, who is knowledgeable of structured finance, and Bruno Gandolfo, who often handles project finance matters. Other key partners on the project finance and infrastructure side include Frederico Moura and Marco Aurélio Saliba, the latter of whom is particularly noted for his energy sector expertise.

Practice head(s):

Guilherme Forbes; Henrique Filizzola; Marcos Ribeiro; Frederico Moura; Bruno Gandolfo; Marco Saliba


Key clients

Engie Brasil Energia


Banco Itau BBA


Patria Investimentos


Banco BTG Pactual


Banco Bradesco


Banco Santander


Equatorial Energia


Energisa


Voltalia


Qair


Credit Suisse


Vinci Partners


V2I Energia


Forbes Resources


Sumitomo Mitsui


Banco de Desenvolvimento Social e Econômico – BNDES


Work highlights


  • Advising the NGO Alliance to End Plastic Waste on a cross-border ESG financing to a subsidiary within the Valoren Recuperadora de Resíduos group.
  • Acted as legal counsel to Monte Pascoal Holding and Banco Itaú BBA for a R$164m restricted public offering of promissory notes by Monte Pascoal Holding.
  • Assisting V2I Energia in a R$120m commercial notes offering.

Tauil & Chequer Advogados

With a solid track record in cross-border financing transactions, Tauil & Chequer Advogados provides regular support to major financial institutions, Brazilian and multinational companies, and institutional investors. Showcasing extensive experience in borrower and lender-side mandates, the firm is well positioned to advise on syndicated loans, securitisations, project finance, and debt restructuring. In addition to its solid transactional capabilities, the group also assists financial institutions in the analysis, revision and restructuring of compliance policies. Clients benefit from the firm’s association with Mayer Brown and the team’s ‘excellent international relations’. Practice head Eduardo Lima handles a mix of regulatory and transactional matters, including project finance, asset-based loans and structure trade finance. Luis Montes, a ‘skilled negotiator‘, stands out for his experience in the financing of energy and infrastructure projects. Priscilla Santos is also well regarded, especially for her work for investment funds and fintech companies.

Practice head(s):

Eduardo Lima


Testimonials

‘Complete firm with excellent international relations.’

‘The firm helped us with several debt renegotiations and restructurings. Complex cases that were very well managed by the team.’

‘Eduardo Lima is knowledgeable of different structures and forms of financing, and has been working in financial and capital markets transactions for a long time. He is quick to respond.’

‘Luis Montes played a leading role in one of our recent several deals. He stands out in the infrastructure sector in Brazil. Very technical profile and skilled negotiator.’

Key clients

Banco Santander (Brasil)


Banco Bradesco and Banco Bradesco BBI


Goldman Sachs


Banco BTG Pactual


Banco Itau BBA


Banco ABC Brasil


ING Bank


Banco do Brasil


Bando Credit Agricole


Transportadora de Gas (TAG)


UBS Brasil Corretora de Câmbio, Titles and Securities


EDP São Paulo Distribuição de Energia


Companhia de Água e Esgoto do Ceará – CAGECE


Breitener Holding e Participações


Work highlights


  • Advising Transportadora Associada de Gás – TAG on all financial matters in Brazil, including the management of over $2bn in loan facilities.
  • Advising Concessionária Ecovias do Araguaia, part of the EcoRodovias Group, on a R$4.2bn long-term financing.
  • Advised Gerdau, Gerdau Açominas and Gerdau Aços Longos  in connection with a $875m global credit facility governed by New York law, and managed by Bank of New York Mellon.

TozziniFreire Advogados

Noted for its 'excellent expertise in banking, investment and insurance products’, the banking and finance practice at TozziniFreire Advogados offers transactional and regulatory support to a varied client roster comprising banks, fintech companies and payment institutions. Practitioners boast extensive experience advising international clients on corporate and project finance, including cross-border syndicated credit facilities and complex debt restructurings. These are all core areas of activity for Alexei Bonamin, who leads the team praised for its ‘ability to create solutions in untested scenarios’. Pedro Eroles, who joined from Mattos Filho in August 2022, is a key contact for fintech and regulatory issues. Also noted, Gustavo Rabello excels in syndicated loans, and Marcus Fonseca handles structured products and fintech-related mandates.

Practice head(s):

Alexei Bonamin


Testimonials

‘Good allocation of lawyer hours combined with great and fast client service, with excellent expertise in banking, investment and insurance products.’

‘Their ability to create solutions in untested scenarios is important to us.’

 

Key clients

Wells Fargo


Haitong Bank


Kinross Brasil Mineração


Adufértil Fertilizantes


K2 Partnering Solutions Holding


Revelo


Monnos


Alume Tecnologia E Serviços Financeiros


Work highlights


  • Acted as special Brazilian counsel to Wells Fargo as a collateral agent for itself and the lenders in an ABL credit agreement.
  • Acted as Brazilian counsel to Kinross Brasil Mineração (Guarantor) in the preparation and negotiation of a letter of guarantee governed by Brazilian law.
  • Advised Adufértil as borrower on a cross-border financing deal with a syndicate of Asian banks, for the purpose of importing raw materials, guaranteed by the Indorama Corporation.

Trench Rossi Watanabe

The banking team at Trench Rossi Watanabe, led by Luís Ambrósio, provides assistance to a diverse range of domestic and international borrowers and lenders. The firm has notable experience in cross-border financings, debt capital markets, project finance, and debt restructurings, with a particular focus on deals involving export credit guarantees. The team also excels in regulatory matters, including bank launches and exits, and often advises technology companies on payments, fintech, and foreign exchange matters.

Practice head(s):

Luis Alberto Ambrosio


Key clients

NMatura


Dexco


GTM Holdings


ABN Amro


GE Capital


Bank Of America


Nintendo


Australia And New Zealand Banking Group Limited In India


China Construction Bank (Asia) Corporation Limited


Braskem


Citigroup


Credit Suisse


EDF Bank


ING BANK N.V., Amsterdam, Lancy/Geneva Branch


Zürcher Kantonalban


Work highlights


  • Advised Bank of America as administrative and collateral agent for the lenders in the negotiation, from a Brazilian perspective, of a $610m credit agreement.
  • Advised China Construction Bank (Asia) Corporation Limited, acting as administrative and security agent for the Pre-Export Facility Lenders.
  • Advised Banco ABN Amro on the bank’s branch exit from Brazil, and in the negotiation of credit assignments for more than seven parties.

Veirano Advogados

Covering both domestic and cross-border matters, Veirano Advogados is a popular choice for major banks and multilateral lenders in asset and project finance transactions in the energy, infrastructure and transport sectors. Rated for its ‘excellent ability to work with other international firms‘, the firm is highly active in structured products, debt capital markets, and acquisition finance, and well placed to handle deals with a multijurisdictional dimension. Leading the team is  projects head Ana Carolina Barretto, who works out of the São Paulo office. Other noteworthy practitioners include Lior Pinsky, who focuses on capital markets, and the ‘competent and available’ counsel Elisa Rezende, who regularly acts for financial institutions, multilateral agencies and international financial institutions. Former co-head Marcelo Mattos and partner Rogério Campos left the firm in September and July 2023, respectively.

Practice head(s):

Ana Carolina Barretto


Testimonials

‘The firm demonstrates an excellent ability to work with other international firms, good understanding of matters and an excellent response time. It acts as a true partner.’

‘Elisa Rezende is a professional above the market average: very polite, competent, available. She spares no effort to explain, clarify, create solutions and serve any client.’

‘The firm has a specialised team fluent in other languages and the most modern technology tools to support throughout the negotiations. It is certainly among the best in the area.’

‘Elisa Rezende supported the negotiation and was always available to discuss the topic and propose alternatives.’

Key clients

Sociedade Beneficente Israelita Brasileira Hospital Albert Einstein


Eletronuclear and Centrais Elétricas Brasileiras


The Brazilian Development Bank (BNDES) and other banks


DNB Bank


Thermal Management Solutions Brazil


Promotora de Informaciones, and other group companies, including subsidiary Editora Moderna


Excelerate Energy Limited Partnership


The Hongkong and Shanghai Banking Corporation Limited and other finance parties


Equinox Gold


Torres do Brasil


Weatherford Indústria e Comércio


Work highlights


  • Advised Torres do Brasil on the review and negotiation of a $515m credit agreement from a Brazilian law perspective.
  • Assisted Sociedade Israelita Brasileira Hospital Albert Einstein in a $100m non-recourse loan agreement for the construction of a new oncological hospital in the City and State of São Paulo.
  • Advised Eletronuclear and Centrais Elétricas Brasileiras on the review and negotiation of a credit agreement in which the lenders agreed to extend financing guaranteed by EXIM Bank.

Vella Pugliese Buosi e Guidoni Advogados

Vella Pugliese Buosi e Guidoni Advogados advises a wide range of domestic and international borrowers and lenders who benefit from the firm’s access to Dentons' global network for cross-border deals. The team is increasingly active in regulatory matters, regularly advising banks, payment providers and fintech companies on payment products, credit cards, joint venture agreements, and banking services. On the transactional side, the team is well positioned to handle acquisition and project financings, syndicated loans, and sector-specific corporate matters. Gabriella Maranesi Najjar is a key contact for financing transactions involving the energy and infrastructure sectors, while Denise Chachamovitz Leão de Salles is a go-to adviser to financial institutions, payment services and fintech companies. Founding partner Rodrigo Vilardo Vella is also active in project finance and capital markets matters.

Practice head(s):

Gabriella Maranesi Najjar; Denise Chachamovitz Leão de Salles; Rodrigo Vella


Key clients

Banco BTG Pactual


Banco Santander (Brazil and Spain)


Banco Votorantim


Banesco


Barclays PLC Bank


Bitpanda


Diamond Offshore Drilling


EQI Agentes Autonomos de Investimentos


First Abu Dahbi Bank – FAB


Flextronics Internacional Tecnologia


HBO – Warner


Huf Hülsbeck & Fürst (Huf)


ING


National Bank of Canada


Oiko Credit


Roku


Rumo


Starstone Specialty Insurance Company


State Bank of India


Work highlights


  • Advising Banco Votorantim on the conversion of a loan to S3 and the acquisition of its remaining shares in issue.
  • Advising EQI AAI, the independent investment agents company, on the termination of its relationship with XP Investimentos and the formation of a joint venture with BTG Pactual to form one of the largest brokers in Brazil.
  • Assisting StarStone US in regulatory banking issues related to mandatory foreign currency deposits and bank accounts in Brazil.