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Who Represents Who

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Barros & Erråzuriz is regularly involved in complex banking and finance transactions. The team is recommended for secured, corporate and syndicated loans; cross-border transactions; sophisticated guarantee agreements; and bond placements. It is also highly regarded for structured finance, project finance, leasing and acquisition finance. Highlights saw the team advise Interconexión Eléctrica, through its subsidiary Interchile, on a long-term project financing for the construction of power transmission projects in Chile; it also acted for BTG Pactual-Cayman Branch on an extension of a solar energy plant-related bridging loan. Banking and finance experts Gonzalo Molina, lender-counsel team head Francisco De la Barra and debtor-counsel team head Nicolås Balmaceda are recommended, as is Luis Alberto Letelier who leads the capital markets team. Cristiån Barros, Víctor Barros and Javier Díaz are also key names. The firm is the local member of Affinitas, a regional alliance of law firms.

Carey’s ‘highly professional and knowledgeable practice is outstanding’. It has longstanding experience in advising Chilean and foreign lenders, investors and borrowers on secured and unsecured syndicated and bilateral loan facilities; debt restructurings; public and private offerings and placements; and equity and debt securities. The practice is also highly regarded for securitisations; project financings; structured products; and derivative transactions. Felipe Moro led advice to SunPower, as sponsor and parent company of Total SunPower El PelĂ­cano, on the project financing of the construction, commission, operation and maintenance of a 100MW photovoltaic plant and its related transmission lines and civil engineering works; and Diego Peralta, who is ‘a highly experienced lawyer in Chile for financial matters’, acted for International Finance Corporation (IFC) on the execution of a $30m loan agreement and the issuing of promissory notes under Chilean Law. Other highlights saw two independent teams act for both the lender and borrower on a $100m credit agreement granted by Rabobank Chile, The Bank of Nova Scotia, Banco de CrĂ©dito del PerĂș and Export Development Canada. Francisco Ugarte is also recommended.

Claro & Cia.’s banking and finance practice is highly rated for its assistance to local and foreign banks, with which it enjoys longstanding relationships. Representative expertise includes loans, public and private placements of securities, and derivatives, including regulatory advice; and in project finance the team advises sponsors, banks and insurers on the financing of toll roads, airports, ports, mines, oil and gas refineries and telecoms projects. It recently acted for Banco Bilbao Vizcaya Argentaria (New York branch), as administrative agent, and several lenders, on a $1.5bn senior unsecured term-loan credit agreement granted to Enersis AmĂ©ricas in relation to the reorganisation of Enersis, Chilectra and Endesa Chile. On the borrower side, the team assisted Empresa ElĂ©ctrica Angamos with $350m secured credit and hedging facilities, entered into with Banco de Chile, Banco de CrĂ©dito e Inversiones, Banco del Estado de Chile and Banco ItaĂș-Corpbanca. Rodrigo OchagavĂ­a has extensive experience in corporate finance, including banking and finance and capital markets; Jorge MartĂ­n is a project finance and banking and finance specialist; and JosĂ© Luis Ambrosy represents lenders, borrowers, purchasers, financial advisers, issuers, credit enhancers and underwriters; he also regularly advises on securities matters that involve the regulatory authorities. The firm is the exclusive Chilean member of Lex Mundi, a global network of independent law firms.

Morales & Besa is ‘a top Chilean law firm that has a reliable team of broadly experienced lawyers, who have strong knowledge of local market and international standards’. The practice covers investment banking and finance, including corporate finance, syndicated loans, and structured finance. It is also highly rated for project finance, derivatives, regulatory matters and debt restructuring; and has specific expertise in regulated sectors, such as energy and natural resources and infrastructure. Recent highlights saw co-founding partner Guillermo Morales act for Bank of America and Bank of America Merrill Lynch Banco MĂșltiplo in a high-value parent guarantee; and Myriam Barahona advised the bank lenders and bondholders on a successful insolvency procedure that aimed to restructure La Araucana’s $600m-plus debts. Other matters included JosĂ© Miguel Carvajal leading advice to a syndicate of banks on the amendment of a financing granted to supermarket group, SMU; and in the projects area, Carlos Silva acted for Sociedad Concesionaria Nuevo Pudahuel on the financing for the expansion of Santiago’s international airport. On the regulatory side, the practice advised Bank of China, a state-owned commercial bank, on the obtaining of a provisional license to operate a branch in Chile. MatĂ­as Langevin and name partner Eugenio Besa are also highly rated.

Philippi Prietocarrizosa Ferrero DU & UrĂ­a regularly acts on project finance transactions in the energy, mining and infrastructure sectors; and advises local and foreign banks on syndicated financings. The firm also acts in multiple corporate finance transactions; represents financiers and owners on aircraft-lease and financing operations; and assists with offshore bonds and the issuance of shares. Marcelo Armas and AndrĂ©s Sanfuentes are the highly regarded department heads; Armas led advice, as local counsel, to a syndicate of banks on the financing of the operation, maintenance, expansion and renovation of Santiago international airport’s existing terminal, as well as the construction, operation and maintenance of a new terminal.

Baker McKenzie Chile’s highly-regarded practitioners regularly advise on the offering and structuring of sophisticated financial products; assist with day-to-day regulatory financial matters; and act for financial institutions and corporate entities in the financing of M&A deals and restructurings. Other areas of strength include project financings, including toll road concessions, energy, mining and pipeline projects; the negotiation of master derivative agreements; and asset-backed securitisation transactions; and the team has longstanding expertise in major project financings. It advised Credit Suisse on the structuring and implementation of local security documents for a $60m trade finance deal. Jaime Munro, León Larrain, Sebastián Vivanco and Fernando Castro are highly rated.

Bofill, Mir & Álvarez Jana is particularly well regarded for its experience in leveraged finance, real estate and project finance, and syndicated loans; the practice is also experienced in corporate recovery and insolvency matters, bond issuances and IPOs. The team recently advised Inversiones e Inmobiliaria Almonacid on refinancing and syndicating its loans. Octavio Bofill, who is ‘personally dedicated to his clients and is a great negotiator with excellent legal knowledge’, and Jorge Lembeye are recommended. Alejandro Álvarez and Ana María Yuri are also key contacts.

Cariola DĂ­ez PĂ©rez-Cotapos is particularly active in structuring cross-border loans. The team also advises on project finance in the mining, energy and infrastructure sectors; M&A acquisition finance and domestic corporate financings; complex restructurings; secured financing for agriculture producers; and derivatives and trade finance. Other areas of strength for the firm include regulatory advice. Recent matters saw the team advise Inversiones AriĂłn, as borrower, on a $275m credit facility to finance the acquisition of Grupo Petrobras Chile. Francisco Illanes and Rodrigo SepĂșlveda are recommended. Juan Antonio Parodi is also well regarded.

Guerrero Olivos expanded its team with the hire of Miguel Coddou, as senior counsel, from Garnham Abogados, Mori & Humphreys; a former general counsel in Chile at international banks, Rabobank Chile, RBS and AMB AMRO Bank Chile, he has extensive experience in financing structures, banking matters and corporate governance. The team advised Banco de CrĂ©dito del PerĂș on loan agreements granted to Empresas Iansa; and acted for BNY Mellon Australia on an international debt offering. Roberto Guerrero V, SebastiĂĄn Yunge and Jorge Delpiano are highly rated. Other experienced practitioners include Juan Enrique Allard, HernĂĄn Felipe ErrĂĄzuriz, Clemente PĂ©rez and Pedro Lyon.

Alessandri & Compañía Abogados’ client base includes national and international banks and financial institutions, particularly multilateral development banks, and the team is particularly recommended for loan documents, cross-border transactions and bond issues. Fernando Jamarne heads the banking and finance services group and he recently led advice to Fifth Third Bank (FTB) on a legal report, concerning products and services that will be offered to FTB customers in Chile. Financial-markets regulatory specialist Felipe Cousiño acted for Coller Capital in the structuring of a $400m private equity global secondaries offering in Chile, by setting up a locally registered feeder fund; the work included assistance with tax, corporate and securities laws.

Larrain y Asociados regularly advises banks, financial agencies, institutions and companies on syndicated loans, acquisition financing and structured financing; the team is also well regarded for energy project financing, petrochemical, mining and infrastructure financing, and financing structures for the aviation market. The team acted for Corpbanca, now known as ItaĂș Corpbanca, on the structuring and documentation of hotel-related financing contracts and guarantees. Department head Patricio Montes and Jorge Granic are project finance experts.

Prieto ‘provides excellent response times, has in-depth knowledge and represents great value for money’. The firm is noted for its experience in domestic and international syndicated loan agreements, predominantly on the debtor’s side; project finance; and debt placements. The team also advises on debt recovery matters, financial restructurings, and bond issues. Highlights saw the team act for a special purpose company, and its sponsors, in the negotiations for the financing for the construction, development and operation of a trunk electricity transmission line; it also advised the ad hoc group of bondholders of Automotores Gildemeister on the restructuring of $700m bonds. Patricio Prieto L is ‘an excellent lawyer’ and Gerardo Cruzat is also highly rated.

Urenda, Rencoret, Orrego y Dörr regularly acts for national and foreign financial institutions and banks on loans to Chilean companies and project finance; the team is also well regarded for its assistance with debt securities, and restructuring and refinancing work. Cross-border highlights saw the team assist Minera Escondida, as borrower, on a $1.2bn syndicated loan granted by a group of 12 lender banks. Managing partner Sergio Orrego, Nicholas Mocarquer and Rodrigo de Alencar are recommended.

Aninat Schwencke & Cia regularly advises issuers and underwriters on capital markets matters, and the practice is highly specialised in derivative products. Internationally, the team provides advisory services to foreign mutual funds and closed-end funds on the approval process in Chile. Recent highlights saw the team act for Citigroup Global Markets and JP Morgan Securities on Chilean state-owned energy company ENAP’s simultaneous bond issuance and cash tender. Juan Pablo Schwencke is the key name.

International law firm CMS recently joined up with Carey & Allende to become CMS Carey & Allende. The practice is well regarded for its experience in project finance, syndicated loans, debt restructurings and the financing of international expansion plans. The practice advised Chilean salmon company AquaChile on a $251m loan to refinance its existing debt with creditors. Other significant work saw the team act for Socer on project finance negotiations with lender Banco Bice for power generation plants. Department head Fernando de CĂĄrcer, Jorge Allende D and Luis Felipe Arze are recommended. Diego RodrĂ­guez is a highly regarded senior associate.

Iberian law firm Garrigues Chile opened in Chile in 2016 after incorporating medium-sized local transactional practice, Avendaño Merino; its banking and finance department was subsequently established with the arrival of Pedro García and his team from Morales & Besa. The practice is recommended for equity and debt capital markets; advises on high-value bond issuances; and is particularly active in the energy and infrastructure sectors. It also acts in complex restructurings, corporate and project finance transactions, and banking regulation. Recent matters saw the team act for Empresa Nacional del Petróleo, the largest oil-and-gas entity in Chile, in a $700m bond issuance. In project financing, it advised Banco de Chile, Banco de Crédito e Inversiones and Banco del Estado de Chile on a $111m financing granted to Transmisora Eléctrica del Norte for VAT payments arising from the construction of a transmission line.

Grasty Quintana Majlis & Cia. regularly advises on the issuance of debt and capital, both privately and in the capital markets; the team is also experienced in syndicated financing and project financing, and has an active practice in assisting start-up venture capital firms with the structuring of their investment financings. Managing partner Juan Turner and Franco Acchiardo are the recommended names.

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