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Norton Rose Fulbright US LLP

Raquel Bierzwinsky

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https://www.nortonrosefulbright.com/en-us/people/17000


Latin America: International firms

Banking and finance

Within: Banking and finance

Norton Rose Fulbright has exploited its extensive international network to make inroads into the increased capital flows from Asia. It remains a considerable presence in project and infrastructure finance, trade and commodities finance, and hybrid financings involving the capital markets; the arrival of George Baptista from Mayer Brown in May 2018 has added significantly to the firm's Latin America capital markets expertise. The sizeable finance team in Sao Paulo is active across Latin America including in Brazil, Chile, Peru, Colombia, Uruguay and Argentina; it frequently works alongside colleagues in New York and Washington DC. The 'team is really well prepared and has a lot of expertise', 'looks into all details and doesn't miss anything'. Clients include Banco de Brasil, ING Bank, Banco Rabobank International Brasil, LATAM Airlines, Vale and Enel Brasil. Mining-sector finance is a growth area for the department and it advised Lundin Gold on its $350m senior secured project financing for the $1bn development and construction of the Fruta del Norte gold project in Ecuador. In another major transaction a team advised Braskem on a $1bn syndicated revolving credit facility, one of the largest syndicated financings provided for a Brazilian entity in 2018. The team is also experiencing an uptick in engagements from alternative lenders and debt funds, and continues to be active in the restructuring segment in Brazil. Charles Johnson is a leader in Sao Paulo, where he has a broad mix of syndicated lending, restructuring, project finance, and trade and commodities financing work. Fellow Sao Paulo partner Daniel Spencer is a big name in project finance throughout Latin America, while Silvia Fazio, Michael McCourt and Alison Baxter are also important figures in Brazil. Raquel Bierzwinsky splits her time between New York and Mexico City and has a fine record in Mexico project finance. Washington DC partner Sarah Devine advises a number of multilateral agencies and development banks on Latin America financings.

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Projects and energy

Within: Leading individuals

Raquel Bierzwinsky - Norton Rose Fulbright US LLP

Within: Projects and energy

Norton Rose Fulbright US LLP's Latin America team has a long history with the region. Perhaps best known for its excellent record in renewables, the practie group is also recognised for conventional power and transmission infrastructure. Its principal markets are Mexico, Chile, Colombia and Peru. The core Latin America group has worked hard to leverage the resources and expertise of the wider firm, including collaborating with colleagues in Toronto and London on mining finance engagements, and Milan lawyers on Argentine projects. It has close connections to a number of DFIs, MLAs and commercial banks, along with a range of sponsors. Clients include OPIC, IFC, IDB, North American Investment Corporation, Banco Nacional de Comercio, Macquarie Bank, Enel Green Power, Mitsubishi and Engie. Recent matters include advising the senior lenders on the $3bn restructuring of the 531MW Alto Maipo hydroelectric power project in Chile, which is sponsored by AES Gener; and Red Kite Mine on the debt funding of a lithium project in Sonora, northern Mexico. New York partner Raquel Bierzwinsky is admitted to practice in Mexico and has deep experience in Mexican projects, including in renewables and mining; she is 'an incredibly engaged and hands-on partner', 'an effective, fair and reasonable negotiator', 'has an in-depth understanding of the Mexican energy market' and 'her complete bilingual background is essential'. Sao Paulo partner Daniel Spencer is another hugely experienced practitioner in power and infrastructure projects throughout the region. Mexico City managing partner Hernån Gonzålez Estrada is another pivotal member of the group, most notably in renewables and mining. New York's Todd Alexander is also prominent in renewable energy projects in Mexico, Chile, Peru and Argentina; while in Washington DC, Peter Fitzgerald is recommended for conventional power, LNG-to-power, and renewables, and Sarah Devine for projects across the region, including DFI-led financings in Argentina. The firm closed its Bogota office in February 2019 with Leopoldo Olavarria transferring to the Mexico City branch. Washington DC senior associate Rachel Crouch is 'very smart and thorough without losing her commercial compass'.

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Mexico

Energy and natural resources

Within: Energy and natural resources

A relatively new entrant to the market, Norton Rose Fulbright is nevertheless led by experienced figures Hernån Gonzålez Estrada and Raquel Bierzwinsky, )who divides her time between Mexico and New York). The growing team is also commended for its more junior lawyers, including senior associate Carlos Campuzano who 'has an in-depth understanding of the Mexican electricity sector'. A recent highlight saw the team advise Enel Green Power on the $1.35bn sale of an 80% stake in its renewables assets to Caisse de dépÎt et placement du Québec and CKD Infraestructura México.

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Projects and infrastructure

Within: Projects and infrastructure

Norton Rose Fulbright represents sponsors, lenders and investors on a diverse range of projects in the energy and natural resources sectors. The firm recently advised Red Kite Finance on the $206m debt funding of a lithium project in Sonora; and also advised the lenders on the $447m financing for four solar-power projects developed by X-Elio, with an aggregate output of 493MW. Hernån Gonzålez Estrada jointly leads the team with Raquel Bierzwinsky, who divides her time between Mexico City and New York.

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