Mr Manuel Orillac > Shearman & Sterling LLP > New York, United States > Lawyer Profile

With an established record in both issuer and underwriter engagements, Shearman & Sterling LLP‘s global offerings practice largely centres on Latin America and Canada. Its New York, Houston and Sao Paulo offices have deep connections to Latin America – particularly Brazil – though the firm has a fine record in most jurisdictions in the region. It also has a large number of Latin American natives within its attorney ranks. The firm also has a considerable history in Canada, having launched an office in Toronto in 1989. In more recent years, it has brought its specific expertise in green and ESG bonds, SPACs and other types of offerings to both regions. Jason Lehner, who leads the Toronto office, also works out of New York. New York partners Grissel Mercado and Manuel Orillac specialise in Latin America offerings, with Mercado becoming increasingly prominent in recent years.

Shearman & Sterling LLP has a tremendous history in Latin America capital markets transactions, though its senior echelon has been depleted in recent years with the retirement of Stuart Fleischmann in January 2022 and the departure of key partner Grissel Mercado and counsel Maria Larsen in 2023. Former department head Antonia Stolper remains an active member of the department as of counsel, with New York’s Manuel Orillac and Sao Paulo-based Roberta Cherman now leading the Latin America capital markets group. This has allowed the firm to continue to land big engagements such as advising the Brazilian state-owned BNDES Participações as selling shareholder in the $6.9bn offering of shares issued by Centrais Elétricas Brasileiras (Eletrobras). The practice has also continued to impress in ESG and sustainability-linked offerings, such as Globo Comunicação e Participações’ offering of $400m sustainability-linked notes. Sao Paulo counsel Jonathan Lewis is another key member of the team. Since the conclusion of research, the team has been notably strengthened with the August 2023 hire of former Linklaters LLP counsel, Alejandro Gordano, as a partner; having led much of the work at his former firm, Gordano is particulary experienced in ESG-segment capital markets mandates.