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Morales & Besa

AVENDIA ISIDORA GOYENECHEA 3477, 19TH FLOOR ,LAS CONDES, SANTIAGO, CHILE
Tel:
Work +56 2 2 472 7000
Fax:
Fax +56 2 2 472 7001
Web:
www.moralesybesa.com

Chile : Banking and finance

Within Banking and finance, Morales & Besa is a second tier firm,

Morales & Besa's prominent practice assists an array of clients ranging from major financial institutions to international corporations, with a marked slant towards lenders. Highly regarded practice-head Pedro García combines his expertise in syndicated loans, debt securities and securitisation transactions, with capital markets work and project financing in the infrastructure and energy sector. A member of the Chilean finance ministry's capital markets advisory council, the list of high-profile clients that sought his advice included the Republic of Chile, on a $1bn bond issuance; Banco Itaú, on the $450m financing of Isla Riesco coal mining project; and the state-owned oil and gas company ENAP, on a $500m international bond issuance and $300m loan agreement. Headline activity saw managing partner Eugenio Besa and José Miguel Carvajal jointly advise Mitsui & Co on one of the country's landmark deals, a $6.75bn loan agreement entered into with Codelco to finance the latter's acquisition of an interest in Anglo American's Sur mining complex. In other work, Carlos Silva, whose workload is split between finance and corporate matters, assisted Ruta de la Araucania and Cintra with a $330m syndicated loan granted by Banco de Chile for the rescue of local bonds insured by foreign companies. On the lending side, a busy 2011 saw the firm advise the Banco del Estado de Chile and a syndicates of banks on the granting of a $450m loan to fuel-and-forestry conglomerate COPEC; Banco de Chile and Corpbanca on a $295m syndicated loan to toll road operator Grupo Costanera; and Santander, plus a syndicate of banks, on the refinancing of major Chilean retailer SMU. The team also advised two banking syndicates on loans totalling $100m granted to the Chilean salmon industry, which is still recovering from the earthquake and consequent tsunami of 2010.

Chile : Corporate and M&A

Within Corporate and M&A, Morales & Besa is a second tier firm,

Closely aligned to the firm's strong finance and capital markets capability, Morales & Besa's skillful four-partner team is regularly at the forefront of significant international deals. The Chilean Production Development Corporation (CORFO) provides a significant pipeline of work, recently instructing the team on the sale of nearly 1$bn in stock of Aguas Andinas, Chile's largest water distributor, and also on the $584m stock sale of two of the country's other main water distributors, Esval and Essbio. In a deal that married up the firm's banking and transactional expertise, it assisted BBVA on its association with a Spanish infrastructure development group for the development of projects in Chile and Latin America. Another recent highlight included advising the Ecuadorian Podolia Investments on its acquisitions of the Chilean firm Fanaloza, the Ecuadorian Edensa, the American Briggs and a Peruvian entity from Cementos Bio Bio. It also acted for Tega Industries on its acquisition of international service provider for the mining industry Acotec; and advised Cintra Infraestructura on the $216m sale of its remaining 40% equity interest in five Chilean toll road operators. The team is able to call on the services of high-profile practitioners including group-head and prominent lawyer Guillermo Morales, managing partner and general corporate expert Eugenio Besa, Carlos Silva and Alejandro Huneeus.

Chile : Energy and natural resources: oil and gas/power generation

Within Energy and natural resources: oil and gas/power generation, Morales & Besa is a third tier firm,

At Morales & Besa, Alejandro Huneeus and Pedro García are highly regarded for their energy and natural resources expertise, closely linked to their respective corporate and banking practices. Recent highlights include advising Danish company Vestas, the world's largest wind turbine producer, on its business implementation in Chile.

Further information on Morales & Besa

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Chile

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