The Legal 500

Cleary Gottlieb Steen & Hamilton LLP

PRACTICE: Cleary Gottlieb Steen & Hamilton LLP’s international presence is supported by a strong network of offices in the UK, China, Italy, Germany, Belgium, Russia and France, while its particular strength lies in the Latin American arena. Clients praise the firm as being ‘generally regarded as the best firm with respect to Latin America and matters relating to the capital markets. Language capabilities are superb as is their knowledge of markets and precedent.’ With 30 US-based lawyers acting in its umbrella Latin America practice, 13 of whom as based in the capital markets arena, it is clear that this is a strong area of focus. With 45 capital markets lawyers in all, 37 based in New York and 8 based in Washington DC, the firm has one of the smaller practices in the market, but this does not impinge on the service provided of which clients note ‘the quality of their service, particularly their commitment to the time and business goals set for the transaction’.

Looking at the dollar amount of deals done in the first half of 2008, it is clear that the firm excels in the international debt area, raising $53.6bn, followed closely by equity matters. The firm also excels in corporate matters, and while it clearly has strength in the representation of financial institutions, it has not carried out matters as significant and market leading as on the corporate side in 2007/08.

On the corporate side, the firm acted for Grupo Clarín and a number of its shareholders, in the client’s IPO and listing of GDRs representing Clarín Class B common shares on the London Stock Exchange in October 2007, and raising approximately $462m for the client. This IPO stands out because it was the largest equity offering by an Argentine issuer in 2007 as well as being the first London Stock Exchange listing of GDRs representing shares of a Latin American issuer.

In a similarly impressive matter on the financial institution side, the firm represented the Bolsa Mexicana de Valores (the Mexican Stock Exchange) regarding its IPO, including a public offering in Mexico and an international private placement with institutional investors (including in the United States under Rule 144A), and the listing of its Series A shares on the Mexican Stock Exchange. The overall offering raised $385m in aggregate proceeds.

While these matters are not the largest of the year, they illustrate the firm’s ability to act on complex and leading matters for both corporate and financial intuition clients, as well as its prominence in Latin America.

CLIENTS: Recent corporate clients include Sony Financial Holding and Vale (Formerly CVRD). Financial institution clients include JPMorgan, ABN AMRO and Deutsche Bank.

INDIVIDUALS: Partner Leslie Silverman is held in high esteem by clients in the equity arena who describe him as being a lawyer who can ‘can take complicated situations and reverse the situation to become a workable situation’.

Davis Polk & Wardwell

PRACTICE: Internationally, very few firms can hold a candle to the expertise of Davis Polk & Wardwell’s ‘just outstanding’ New York practice of 21 partners and 58 other lawyers, supplemented by its Menlo Park office of 8 partners. The firm has particular expertise in international IPOs, with clients praising the firm as having the ‘greatest degree of knowledge in the equity execution area’, and in the Latin American arena. With expertise in listing offerings on stock exchanges such as the Luxembourg Stock Exchange, São Paulo Stock Exchange and NYSE Stock Exchange for clients, the practice has the scope to turn its hand to any type of capital markets matter in an international sense, from high-yield debt and straight debt to equity, mainly for financial institutions. While the practice boasts an enviable relationship with investment banks, it also has a diverse range of corporate clients that it has represented over the last year, when an undeniable market focus has been on acting for financial institutions.

Without question, the firm’s role in the VISA IPO, closing in March 2008, has been a highlight of its year. The firm acted for an impressive group of joint bookrunners and representatives of the underwriters including JPMorgan, Goldman, Sachs, UBS, Banc of America Securities, Wachovia Capital Markets, Citigroup, Merrill Lynch and HSBC. The matter concerned an IPO of common stock with gross proceeds of $19.65bn with stock is listed on the NYSE and Canadian and Japanese stock exchanges, as well as in private placements in more than 50 jurisdictions around the world.

Illustrating the firm’s trusted position on the manager side, it is designated underwriters counsel for both the Province of Ontario and for Export Development Canada. The practice advised the underwriters regarding an aggregate of $5.25bn of SEC-registered offerings by Export Development Canada, with offerings listed on the Luxembourg stock exchange.

The practice has shown particular aptitude in working on leading IPO matters for issuers, including advising Cosan in the largest SEC-registered IPO by Latin American issuers in 2007 or 2008. The matter regarded the client’s $1.2bn SEC-registered IPO of class A common stock and shares in the form of Brazilian Depositary receipts (BDRs). The class A common shares are listed on the NYSE, and the BDRs are listed on the São Paulo Stock Exchange.

In another matter, the team acted for Brazilian electricity generation company MPX Energia regarding the largest IPO ever of a start-up company in Latin America. The IPO of common shares totaled approximately $1.1bn, and the shares were traded on the São Paulo Stock Exchange

CLIENTS: Financial institution clients include JPMorgan, Citigroup Global Markets, Bradesco Securities, Merrill Lynch, Itaú Securities and Morgan Stanley. Issuer side clients include
Cosan, MPX Energia and Independência International.

INDIVIDUALS: New York partner Manuel Garciadiaz is regarded by clients as being a lawyer who ‘continues to exceed any benchmark you set up’. Garciadiaz stands out to clients due to his ‘knowledge about “everything”, his responsiveness, his attention in providing an opinion, even when he recognized that was not his responsibility’. The partner focuses his practice on acting on a range of capital markets matters for both national and international clients.

‘Excellent professional’ Maurice Blanco practices in the firm’s Latin America and Spain practice group, as well as being a member of the corporate department. The New York-based partner is praised by clients for his ‘excellent technical skills, always responsive and solution orientated’.

Skadden, Arps, Slate, Meagher & Flom LLP

PRACTICE: With just over 130 partners spread across the US in 8 offices, Skadden, Arps, Slate, Meagher & Flom LLP has a strong national footprint. The firm has particular strength in equity matters, which is mirrored in its Latin America expertise, while described as being ‘limited in Asia’. Praised by clients for its expertise in both corporate or M&A work, the practice continues to act for both corporate clients and financial institutions in arrange of debt and equity offerings.

While the firm is regarded as having a strong track record for representing corporate clients, a look at the team’s work over the last 12 months suggests a shift to representing financial intuitions as both issuer and
manager. Illustrating its strength in representing financial institutions, the firm recently acted for Goldman Sachs and Credit Suisse as lead underwriters regarding the $3.7bn Rule 144A/Regulation S IPO of shares of Bovespa Holding, the owner of the São Paulo Stock Exchange.

Similarly, the team acted for Banc of America Securities and Lehman Brothers as joint bookrunners and CIBC World Markets and Jefferies & Co as co-lead managers regarding an $89m combined primary/secondary follow-on offering of ordinary shares by Israeli Ceragon Networks. The ordinary shares trade on NASDAQ Global Market and the Tel Aviv Stock Exchange.

CLIENTS: Financial institution clients from the last year include CIBC World Markets, Cowen and Company, RBC Capital Markets, Thomas Weisel Partners and Oppenheimer. Recent issuer clients include Endurance Specialty Holdings and Macau Legend Development.

INDIVIDUAL: Phyliss Korpf is regarded as ‘exceptional’ for her work in both national and international matters. Korpf has led a number of the leading global offerings of the year, including the above mentioned for Banc of America, Lehman Brothers, CIBC World Markets and Jefferies & Co.

Cravath, Swaine & Moore LLP

PRACTICE: The global offerings highlights for Cravath, Swaine & Moore LLP lie predominantly in the equity arena on both the financial institution and corporate side, suggesting that the firm does not have as much depth of expertise enjoyed by competitors. Noted for being ‘strong in the Latin American and Asian financial institution and corporate areas’, the firm’s strength in these areas continue, albeit through smaller and less weighty matters on the corporate side.

The majority of the lawyers who practice in this area are based in the New York office and have the capacity to act on both national and international matters alike. In the financial institutions arena, the practice has acted for clients such as Merrill Lynch and Morgan Stanley, allowing it to continue acting at a high level despite the recent downturn of the market. Illustrating this strength, in August 2008, the team acted for the initial purchasers Goldman Sachs, Credit Suisse and JPMorgan regarding the $896m Rule 144A global offering of Class A shares of Apollo Global Management.

On the corporate side, the practice acted for GP Investments regarding its Brazilian Reais $367m 144A/Reg. S offering of common stock and Brazilian depository shares. The shares were listed on the Euro MTF market of the Luxembourg Stock Exchange and the São Paulo Exchange.

CLIENTS: Financial institution clients include JPMorgan, Credit Suisse, Merrill Lynch and Goldman Sachs, while corporate clients include GP Investments and HJ International.

INDIVIDUALS: New York partner David Mercado is a member of the firm’s corporate department and has been involved in a number of the firm’s leading matters as lead partner. Mercado has a particular practice focus on Latin America-related M&A and financings.

Morrison & Foerster LLP

PRACTICE: The fact that Morrison & Foerster LLP has five offices in Asia and two in Europe illustrates the firm’s concentration in the Asia arena, allowing the firm’s US based offices to tap into a rich sources of Asian expertise.

Also setting the firm’s ‘very pragmatic and smart’ capital markets practice apart from competitors in the market, the practice has a continued leaning towards financial institution representation, boasting a strong client list including BNP Paribas and Glitnit Banki. The firm has the ability to act for financial institutions as both manager and issuer, in which arena clients note that the firm is ‘the market leader’.

The practice illustrates this strength on the financial institution side through long running relationships, such as representing
Landsbanki Islands in all of its offerings and being designated underwriters’ counsel for Bank of America. The team recently acted for Landsbanki Islands regarding its $16bn update to structured notes supplement to offering circular for its Euro Medium-Term Note Programme. In another large matter for a financial
institution, the practice acted for Glitnir Banki regarding its $21bn medium term note program update.

The practice also recently represented Goldman Sachs, Daiwa Securities and Nikko Citigroup in connection with a $994m global public equity offering and a US Rule 144A offering of 170,000,000 shares of common stock of Chuo Mitsui Trust Holdings. On the advice to corporate side, the team acted for G4S, an international security solutions group, in a number of offerings of senior unsecured notes, specifically Series A, B, C, D, E and F, totalling $582.5m.

CLIENTS: Financial institution clients include BNP Paribas, ABN AMRO, Intermediate Capital Group and Banc of America. Corporate clients include Maoye International Holdings and Lee & Man Paper Manufacturing.

INDIVIDUALS: ‘Extremely accomplished professional’ New York-based partner Anna Pinedo focuses her practice on acting for both corporate and financial institution clients in securities and derivatives matters, and has worked closely with foreign issuers regarding offerings in both the US and Europe.

Sullivan & Cromwell LLP

PRACTICE: Sullivan & Cromwell LLP’s historical presence in Latin American and reputation as a leading firm for financial institution representation has not wavered this year. After a very strong 2007 leading in to 2008, the firm has continued to carry out top notch transactions for financial institutions.

An example of the firm’s strength in the financial institutions arena, it advised Credit Suisse, Merrill Lynch and Deutsche Bank regarding Petróleos Mexicanos’s (Pemex) $2bn debt offering pursuant to Rule 144A. The offering of the Mexican state-owned oil company consisted of a $1.5bn offering of notes and a $500m offering of notes and closed in October 2007. Despite a perception that ‘ Sullivan & Cromwell LLP is decent, but their Latin practice is deteriorating’, and having received the blow of the stepping down of recognized partner Carlos Spinelli-Noseda, the firm continue to carry out work in the Latin American arena through a tight and experienced group of practices. The firm has set itself apart through its umbrella practice groups for Latin America and other global areas which encapsulate expertise from different practices in the firm, such as mergers and acquisitions, capital markets and sovereign finance expertise. This allows the firm to offer a one-stop shop for financial institutions and national clients alike.

Illustrating that the firm’s expertise lies with the representation of financial institutions in the Latin American region, the team has also acted for issuers as well as underwriters. In another matter, the Washington DC-based practice acted for the Corporación Andina de Fomento (Andian Development Corporation) regarding two SEC-registered debt offerings.

CLIENTS: In addition to Credit Suisse, Merrill Lynch and Deutsche Bank, the firm has acted for Goldman Sachs and Merrill Lynch.

INDIVIDUALS: Partner Dennis Sullivan is based in the firm’s Washington DC office, and acted on the Corporación Andina de Fomento matter. Sullivan is a member of several of the firm’s practices including securities and private equity, illustrating the firm’s focus on cross-border expertise.

Baker Botts, L.L.P.

PRACTICE: Continuing to illustrate its strength in representing corporate clients in international capital markets matters, Baker Botts, L.L.P. has acted for clients such as Dell and CenterPoint Energy. While it has the capacity to act for financial institutions such as Citi and JPMorgan, corporate client representation is the rock of the practice.

Praised for its ‘very strong Houston office and international offices’ the Texas-based firm makes its international intentions clear through its global projects practice and expanding the firm’s global reach in the capital markets arena, the firm added partner Babul Parikh to its Riyadh office in January 2009. Illustrating the close relationships between the offices there has been recent movement between them with a Dallas-based David Emmons moving to the Dubai office and was named partner in charge of the Dubai and Riyadh offices, while Houston partner Joel Swanson moved to the London office and was named head of the firm’s international corporate practice.

Despite this, the firm does not have the breadth of global offices as other rival firms or the number of partners based in its US offices, impinging the amount and size of matters that the team can handle. Despite this, the practice has acted on some large deals in 2008. In a double pronged matter for the Cayman Island corporate client Transocean, the practice advised the client regarding the payment of a portion of debt for the finance of the acquisition of GlobalSantaFe. This included public offerings of series A, B and C convertible notes worth $6.6bn, and three offerings of senior notes work $2.5bn.

In another matter, the team acted for ConocoPhillips regarding a public offering of notes worth an aggregate of $1.5bn aggregate, closing in May 2008.

CLIENTS: As well as the above mentioned clients Transocean and ConocoPhillips, corporate clients include Dell and CenterPoint Energy Resources. Financial institution clients include Citi, Scotia Capital and JPMorgan.

INDIVIDUALS: Houston-based partner Tull Florey is regarded by clients as being ‘someone deserving’ of recognition for his work in the capital markets space. Boasting expertise across the board and in Rule 144A offerings among others, Florey recently worked on the ConocoPhillips matter.

Clifford Chance

PRACTICE: Wall Street stalwart Clifford Chance’s strength in global offerings is no surprise due to its international presence and its ‘excellent team’ in the US. The firm boasts 31 offices throughout the US, Europe and Asia, and is singled out by clients for its particular strength in Latin America; praised as a firm that ‘knows the Brazilian market and the cultural environment to implement deals’ illustrating a deep insight into international culture as well as legal knowledge is important to the firm’s clients.

2008 has seen a strong connection between the firm’s US and London offices. The practice advised NYSE Euronext regarding a debut Regulation S, €750m Eurobond issuance to be dual listed on the regulated market of the Luxembourg Stock Exchange and Eurolist.

The rise in its profile on the financial institutions side in 2008 is due to the level of clients and complexity of work carried out in the area. Illustrating the firm’s expertise on the financial institution side, the practice advised Morgan Stanley and Citi regarding the $1bn debt offering by Brazilian government owned development bank BNDES. This matter also shows the team’s strength in complex matters as it included Regulation S and Rule 144A elements, different stages the bond offering, and an extension of maturity and mandatory exchange.

On the corporate side, the practice advised steel producer Usinas Siderurgicas de Minas Gerais regarding the $400m debt offering of Usiminas Commercial, closing in January 2008.

CLIENTS: On the corporate side, clients include Usinas Siderurgicas de Minas Gerais. Despite the firm’s concentration being in the representation of financial institutions, it has acted for corporate clients such as MetroPCS Communication. Financial institution clients include Bicbanco, UBS, Credit Suisse and Deutsche Bank.

INDIVIDUALS: Corporate and securities partner Jay Bernstein is based in New York and is regarded by clients as being ‘very creative in structuring the deal and he brought a great deal of experience to bear in the project’. Bernstein is the co-head in the Americas region of the firm’s real estate funds and investment banking group, and acts for clients in both national and international markets.

Debevoise & Plimpton

PRACTICE: Praised for a practice where clients ‘receive excellent service from some of the firm’s most talented senior attorneys’, Debevoise & Plimpton demonstrates a definite leaning to the representation of corporate clients. While corporate matters overall are strength for the firm, it illustrates its capacity to work with financial institution clients though the representation of client such as Bain Capital and Citi.

Praised by clients as being ‘responsive’, and for the fact that ‘they understand our needs, and provide sound and trusted advice’, the securities practice boasts a significantly smaller number of lawyers than some of its rivals, with 31 lawyers in its New York and Washington DC offices, with only a handful concentrating on securities work full-time.

The practice has acted for Australian bank Westpac on a number of matters including its $1bn offering of stapled preferred securities in Australia. The matter included a perpetual subordinated note issued by the New York branch of the company and perpetual preferred shares issued by Westpac, and closed in July 2008.

The practice acted for Mexican corporate client Megacable Holdings regarding its 6.83bn pesos ($641m) IPO in Mexico of ordinary participation certificates and a simultaneous international offering pursuant to Rule 144A and Regulation S.

CLIENTS: As noted above, corporate clients include Megacable and Rexel, while financial institution clients include Westpac, Citigroup and private equity group Carlyle.

INDIVIDUALS: Corporate partner Steven Slutzky is described by clients as being one of the ‘best lawyers I have ever worked with’. Slutzky focuses his personal practice on securities offerings and transactions and is a member of the firm’s securities and insurance industry groups.

Latham & Watkins LLP

PRACTICE: Respected within the market for its strong equity and high-yield expertise, Latham & Watkins LLP boasts an impressive network of 28 offices, including seven national offices with the largest group of lawyers acting in the corporate finance and capital markets group in the US. Despite the firm’s far spread national reach, the US practice has not seen the market share of other competitor firms, with a number of leading matters being spearheaded from the firm’s Asia and London offices. In terms of international volume, the practice has acted on $178.6bn of debt offerings, $34.7bn in equity offerings and $26.6bn in high-yield matters since September 2007. While historically being regarded as a leader in international IPOs, particularly in the EMEA regions, this worked has slowed due to the closing of the US markets.

On the financial institution side, the practice advised Morgan Stanley on the July 2008 offering of Sirius Satellite Radio of $275m shares of common stock listed on the NASDAQ Global Select Market.

For a corporate client, the firm’s Washington DC team advised USEC regarding its $799m September 2007 offering of common stock on the NYSE and offering of 3% convertible senior notes due 2014.

CLIENTS: Part financial institution clients have included Citibank and Merrill Lynch while corporate clients have included MetroPCS Communications as well as USEC.

INDIVIDUALS: In his role as the vice-chairman of the firm’s global corporate department, New York-based partner Marc Jaffe is at the forefront of the firm’s global capital markets practice.

Milbank, Tweed, Hadley & McCloy LLP

PRACTICE: Regarded by clients as ‘one of the pre-eminent capital markets firms in Latin America’, New York firm Milbank, Tweed, Hadley & McCloy LLP is praised for its ‘significant expertise in debt capital markets transactions and significant experience with respect to Latin American transactions’. Singled out by clients for its partners ‘language capabilities’ and ‘knowledge of local markets’ in the global arena, the firm has offices in Tokyo, Beijing, Hong Kong and Singapore which cover Asia-based matters.

The firm’s concentration on representing financial institutions, particularly in Mexico, is undeniably strong. An example of the practice’s work in this area is the New York teams’s representation of financial institute Citigroup Global Markets and other underwriters, in negotiating and structuring the issuance by Mexico’s largest engineering, construction and procurement firm Empress ICSA. The matter involved a $535m public offering, and is offered as a SEC-registered offering in the US, closing in October 2007.

On the corporate side, the firm represented Compañia de Energia Mexicana, regarding its Mexican offering of $52.2m senior secured notes under Regulation S, closing in April 2008.

CLIENTS: Financial institution clients include Credit Suisse, UBS and BBVA, while issuer clients include Genomma Lab International and Compañia de Energia Mexicana.

INDIVIDUALS: Described as one of the ‘premier capital markets attorneys’ by clients, New York-based partner Michael Fitzgerald is the chairman of the firm’s global securities group and the Latin America practice group. Fitzgerald is singled out by clients for being ‘the leading lawyer in Mexico for international public equity and debt offerings’ who has ‘an amazing understanding of the Mexican corporate world and in-country relationships no other US lawyer has. Very few, if any, individuals have as much experience in Latin America’.

Shearman & Sterling LLP

PRACTICE: The opinion amongst clients is that the levels of service and expertise of New York law firm Shearman & Sterling LLP’s huge capital markets practice are strong but not outstanding. Boasting almost 200 lawyers, 64 of whom are based in New York, clients note that the practice offers ‘focused, practical advice based on experience with a broad base of clients in this particular area of expertise’. Noted for its ‘good experience in Brazil’, the firm is as present as top-tier firms in South America, particularly in terms of IPOs.

Seeing some movement between the offices in recent months, Partners Michael Benjamin and David Beveridge have moved from the London to the New York office, with Beveridge taking up the role of head of the firm’s capital market: Americas group.

An example of the firm’s South American strength is its representation of financial institutions Goldman Sachs and Credit Suisse as joint global front coordinators and international bookrunners regarding an IPO in Argentine and the UK, and a Rule 144A/Regulation S offering of Class B common shares and global depository shares of Argentina’s largest media company, Grupo Clarín.

On the corporate side, the practice advised new client Ecopetrol, Colombia’s state oil company, regarding its registration with the US Securities and Exchange Commission for the listing of its American Depository Shares represented by American Depository Receipts on the NYSE, closing in September 2008.

CLIENTS: Financial institution clients include HSBC Securities, BNP Paribas and Citigroup Global Markets. On the corporate side, clients include Ecopetrol as well as the Province of Ontario.

INDIVIDUALS: Partner Lisa Jacobs focuses her personal practice on international corporate finance, and is praised by clients as a ‘knowledgeable, competent, practical, responsive, accessible, and candid’ lawyer.

Simpson Thacher & Bartlett LLP

PRACTICE: Giving the firm a certain edge over the competition, Simpson Thacher & Bartlett LLP has a strong presence in Asia, with two offices in China and one in Japan, as well as a strong London office and a recognized strength in Latin America.

The firm is praised by clients for the ‘quality of the service’ and ‘attention to detail’ offered by its lawyers in its international capital markets practice, which has a focus on assisting non-US clients. In 2008, the practice has continued to see equity being raised by Chinese, Japanese and Latin American companies, and has the ability to represent clients in equity, investment grade debt, high-yield and complex convertibles matters.

While it continues to be a major leader in the Latin American stakes, the firm’s Asia work is very much handled by its Asia offices, for which the US based office’s played more of a supporting role. As noted, this is not the case in Latin America, where the team has acted on some of the leading matters of the year.

On the corporate side, the practice represented Diagnósticos da América regarding one of the first high-yield offerings of 2008 by a Latin American company. The offering was carried out through a finance subsidiary through which the client issued $50m senior notes in a Rule 44A/Regulation S offering, which closed in May 2008.

Regarding maters for financial institutions, the firm’s New York and Palo Alto offices represented Credit Suisse, Morgan Stanley and Goldman Sachs as underwriters regarding the IPO of 111,678,000 class A common shares of Cosan Limited for $1.2bn. The shares that were registered with the Brazilian Securities Commission and the US Securities and Exchange Commission were offered in the US, in Brazil as BDRs, and in a number of countries outside Brazil.

CLIENTS: The firm’s expertise can be seen from clients such as Virgin Mobile on the corporate side, and Bear Sterns and Merrill Lynch on the financial institutions side.

INDIVIDUALS: S Todd Crider is singled out as a leader in the global offerings arena by clients; the New York-based partner focuses a part of his practice on international corporate finance transactions, with a regional focus on Latin American and Spanish matters. Crider’s strength in speaking Spanish, Portuguese and French is of great assistance to clients.

White & Case LLP

PRACTICE: White & Case LLP’s strength in international equity matters for predominantly financial institution clients is undeniable. Singled out by clients for the ‘responsiveness of attorneys and the quality of the service provided’, the firm has illustrated the ability to handle international debt matters. Despite this, the equity arena is the area that the firm has focused on recently, while rival firms excel in both equity and debt matters alike. Similarly, the firm has acted for corporate clients such as WellPoint and Grupo Aeroportuario del Centro Norte in the past, but the firm’s leading matters throughout 2008 focused on the representation of financial institutions.

The firm’s geographic strength lies in Latin America, where the firm has two Mexico City offices and one in São Paulo. Clients note that they have been impressed by the firm’s ‘expertise in the Brazilian market and securities offerings in Brazil, and the language skills of team’.

Cementing its position as a leader in the equity arena, the firm’s US securities practice of 12 partners and 42 associates, has acted in a number of the years leading matters including representing VISA in connection with its $19.7bn IPO and listing on the NYSE. The offering was a registered public offering in Canada and Japan as well as in the US, and is the largest IPO in US history.

The practice also acted for lead manager and global coordinator Credit Suisse Securities in the $12.17bn public offering by the Brazilian mining company Companhia Vale de Rio Doce, which was largest equity offering ever by a Latin American issuer.

CLIENTS: Financial institution clients of the firm include BNP Paribas, Citigroup Global Markets, Credit Suisse, JPMorgan, Deutsche Bank, Banco Patagonia and Bancolombia.

INDIVIDUALS: New York-based partner John Vetterli is singled out by clients for his ability to speak Portuguese, which naturally ‘important to do a deal in Brazil’. Clients have the confidence in Vetterli to say that ‘we rely on him, what he says will probably be the best opportunity we have’. Vetterli is a member of the capital markets and securities group and focuses his practice on both domestic and international-related matters.

Also based in New York, partner Howard Kleinman focuses his practice on financial and capital markets transactions in Latin America. Kleinman is praised for his ability to ‘explain a situation to New York people in a way that the lawyers can understand’ when communicating with US lawyers working on a Brazilian deal.