Firms To Watch: Banking and finance

Under the leadership of Paulo Mertz Focaccia, Renata Homem de Melo Fontes and Vicente Piccoli Medeiros Braga, the banking, payments and fintech team at Focaccia, Amaral e Lamonica Advogados (FAS Advogados) acts for a range of promising companies in applications and proceedings before the Central Bank of Brazil, and in ICOs and regulatory matters.
Olivério Dal Fabbro Abid Advogados has a niche focus on fintech, where its expertise covers banking as a service (BaaS), open banking, payments, digital accounts, and fraud and AML; João Otávio Pinheiro Olivério is a key contact.

Banking and finance in Brazil

Cescon, Barrieu, Flesch & Barreto Advogados

Cescon Barrieu has established a strong reputation for transactional work, and is regularly involved in major financings involving federal and state entities, as well as state-owned companies. Distressed debt has inevitably crept up the agenda in the wake of the Covid-19 pandemic, and the firm has already built a good standing through its work for debtors and creditors, including debt funds; the firm's advice to Oaktree Capital on its $2.3bn debtor-in-possession (DIP) financing to LATAM being a prime example. The team is respectively led out of São Paulo and Rio de Janeiro by versatile partners Ronald Herscovici and Maurício Teixeira dos Santos. Other key partners include Joaquim De OliveiraAna Paula Calil and Alexandre Gossn Barreto, who is active on the project finance side.

Practice head(s):

Ronald Herscovici; Maurício Teixeira dos Santos

Key clients

Banco Santander

Delta Airlines

Açucareira Quata

Banco do Brasil

Banco Bradesco

Bank of America

Banco BTG Pactual

Copagaz Distribuidora de Gás

Itaú Unibanco

Ambev

Work highlights

  • Advised OakTree Capital Management, as senior lender, and TMF Brasil, as local collateral agent, on the $2.3bn DIP financing extended to LATAM by OakTree Capital Management and by the controlling shareholders of LATAM, in the context of LATAM’s Chapter 11 restructuring.
  • Advised Copagaz on a R$2.35bn credit line for the acquisition of Liquigas, which included bank loans extended by Itau and Bradesco, a public issuance of debentures and a private issuance of debentures subscribed by Itausa.
  • Advised Sabesp on a R$L950m financing by Inter-American Development Bank (IDB) to fund works to  improve the sewage and wastewater treatment and collection in the São Paulo’s Pinheiros river and develop solar infrastructure to be implemented in water treatment plants.

Machado Meyer Sendacz e Opice Advogados

Machado Meyer Sendacz e Opice Advogados has a multidisciplinary banking and finance practice with a strong following among the main domestic and international banks and financial institutions. On the transactional side, the firm's lawyers comfortably advise on complex banking instruments and products. The firm's wider standing in M&A and infrastructure also ensures a strong flow of acquisition and project financings, both for borrowers and lenders. The team is also strong on the regulatory side, and is increasingly active in the fintech and payments space. Nei Schilling Zelmanovits leads the team, which includes Adriano Schnur, who handles project and structured finance transactions, and Eduardo Avila de Castro, who is especially active on the regulatory front. Newer partners such as Rafael Carretero and Bruno Racy area also making strong names for themselves.

Practice head(s):

Nei Schilling Zelmanovits

Testimonials

‘Machado Meyer stands out for its ability to deliver the required works within the required deadlines and with technical  quality. In addition, the experience of the firm in various types of operations and the fact that they are accustomed to serving diverse clients contribute to the fact that the partners and lawyers offer opinions and alternatives that add value to the service provided.’

‘Adriano Schnur and Raphael Zono show rigorous technical performance and great negotiating capacity. They are also always available to find solutions that meet the interests of the parties.’

Key clients

Itaú Unibanco

Banco Bradesco

Banco Santander (Brasil)

Bank of America Merrill Lynch Banco Múltiplo

Goldman Sachs do Brasil Banco Múltiplo

Banco J.P. Morgan

Mercado Pago

Mercado Crédito

Scania Administradora de Consórcios

Lombard Odier Private Bank

Banco Cetelem

Banco do Brasil

Banco BTG Pactual

Banco BV

Travelex Banco de Câmbio

Concessionária Aeroporto Rio de Janeiro

Cemig Distribuição

Banco Mizuho do Brasil

BB Bando de Investimentos

Associação Brasileira de Bancos Internacionais

Banco BNP Paribas Brasil

Brazilian American Merchant Bank – BAMB

Banco Latinoamericano de Comércio Exterior

Banco Bradesco Europa

Cargill Financial Services International Inc

China Construction Bank (Brasil) Banco Múltiplo

ING Bank

Scotiabank Brasil, Banco Múltiplo

Sumitomo Mitsui Banking Corporation

Work highlights

  • Advised Banco do Brasil, Bradesco and Itaú Unibanco on the debt restructuring of the InterCement Group.
  • Advised the underwriters on the issuance, by Companhia Siderúrgica Nacional, through its subsidiary CSN Islands XI, of 6.75% senior unsecured notes due 2028, in the aggregate principal amount of $1bn.
  • Assisted BNP Paribas in connection with five different cross-border Uncommitted Term Loan Facility Agreements, in the aggregate amount of R$1.6bn.

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados has a multi-faceted team offering strong expertise in corporate finance, regulatory matters, and emerging markets such as fintech and payments. The firm has strong relationships with most of the domestic and international banks, and on the transactional front is especially strong in project and acquisition finance, debt capital markets, structured debt and export finance. Among the partners, Frederico Kerr Bullamah has a strong track record in cross-border financings and is highlighted as ‘very skilled in negotiations and in solving complex situations‘. Bruno Mastriani Simões Tuca regularly advises on securitisations and other forms of structured finance; debt capital markets and project finance are core areas for Marina Anselmo Schneider; while in Rio de Janeiro, Pablo Sorj is active in energy and infrastructure related financings. Pedro Eroles is also strong on fintech and regulatory matters.

Practice head(s):

Frederico Kerr Bullamah; Bruno Mastriani Simões Tuca; Marina Anselmo Schneider

Testimonials

‘Mattos Filho is full service and has teams with technical excellence in all areas that we need. They are always available and respond with quality and speed.’

‘They meet the deadlines indicated and add a lot of value in the operation. What sets them apart is the in-depth knowledge of credit and the investment fund industry.’

‘Frederico Kerr Bullamah is proactive in solving problems and very skilled in negotiations and solving complex situations.  Frederico has a lot of experience in financing operations and in general financial or capital markets . For me, he is a reference in financing and funding operations, I rely very much on his work.’

Bruno Tuca, Flavia Magliozzi, Mariane Kondo and Cesar Rizzo: great knowledge of the market and the client, in addition to being careful with the draft documents.’

Key clients

Câmara de Comercialização de Energia Elétrica

Inter-American Development Bank

InterCement Brasil

Banco Itaú BBA

XP Corretora de Cambio Títulos e Valores Imobiliário

Nordex Energy Brasil – Comércio e Indústria de Equipamentos

Inter-American Investment Corporation (IDB Invest)

Klabin Austria

All4Labels Management

Goldman Sachs

Visa

Geru

Facebook

Stone

Mercado Pago

HSBC

Scotiabank

Goldman Sachs

Visa

Société de Promotion et de Participation pour la Coopération Economique  – Proparco

DEG – Deutsche Investitions- Und Entwicklungsgesellschaft

GOL Linhas Aéreas Inteligentes

Work highlights

  • Advised Fiat Chrysler Automobiles/Stellantis with respect to legal and regulatory aspects of Brazilian law applicable to financial institutions’ change of control in connection with the $52bn merger between Fiat Chrysler Automobiles and Peugeot.
  • Advised CCEE in obtaining a R$15bn-plus financing from a number of major financial institutions, supported by a provisional measure sanctioned by Brazil’s president (MP 950), which dealt with temporary emergency measures for the electricity sector during the Covid-19 pandemic.
  • Advised the Inter-American Investment Corporation, acting as agent on behalf of the Inter-American Development Bank, to Companhia de Saneamento Básico do Estado de São Paulo (SABESP), on a R$950m unsecured loan to finance SABESP’s capital expenditures, including infrastructure improvements.

Pinheiro Guimarães

Pinheiro Guimarães is well known for its strong transactional track record in domestic and cross-border financings. The firm's clients come from across the financial services sector, including major creditors, debtors, governments and multilateral organisations. The team has a strong reputation for structured and acquisition finance, and has recently been involved in several major restructurings and project finance deals. The team is respectively led from Rio de Janeiro and São Paulo by Plinio Pinheiro Guimarães Neto and Francisco José Pinheiro Guimarães. Ivie Moura Alves has a good name for cross-border syndicated loans, while senior partner Francisco Pinheiro Guimarães Neto also continues to play an active role on deals. Other key individuals include Fábio Yanitchkis Couto for structured finance and the acquisition of non-performing loans (NPLs), Marcela Taquette Vaz and Bruno Lardosa.

Practice head(s):

Plinio Pinheiro Guimarães Neto; Francisco José Pinheiro Guimarães

Key clients

Citibank

Itaú BBA

Credit Suisse

BTG Pactual

International Finance Corporation (IFC)

JP Morgan

Santader

HSBC

Banco Votorantim

Bradesco

Goldman Sachs

Klabin

General Motors

XP Investimentos

Saxo Bank

Banco Itaú

Ioschpe

B3 – Brasil, Bolsa, Balcão

Suzano Papel e Celulose

Globo Group

Andrade Gutierrez

Enel

Moneda Asset Management

Redwood Capital Management

Rimrock Capital Management

Rede D’Or

EDF Energies Nouvelles

Work highlights

  • Acted as counsel to Banco Citibank in connection with a R$15.2bn syndicated loan granted to the electric power sector (represented by the Brazilian Electricity Trading Chamber – CCEE) to ensure the liquidity of the sector throughout the Covid-19 pandemic.
  • Acted as counsel to the lenders on a $1.14bn loan to a joint venture between Austrian fibre producer Lenzing and Brazilian dissolving wood pulp supplier Duratex, in order to build a facility with capacity to produce 500,000 tons of dissolving wood pulp per year.
  • Advising on an $850m issuance and public note offering by Rede D’Or Finance, guaranteed by Rede D’Or São Luiz.

Pinheiro Neto Advogados

Pinheiro Neto Advogados successfully strikes a balance between the transactional and the regulatory. In the latter, the firm has a strong track record advising established and emerging players in the payments and fintech space. Work in other areas,  including debt renegotiations and refinancings, accelerated as a result of the Covid-19 pandemic, and team members were involved in the creation of Brazil’s first Relief Fund. This is in addition to its normal activities such as acquisition finance, syndicated lending, infrastructure loans and debt capital markets. Key partners include Bruno Balduccini on the regulatory side, and José Luiz Homem de Mello for transactional matters. Fernando Ruiz de Almeida Prado and Tiago Themudo Lessa are active in structured finance. Recently promoted partners Yuka Ono and Ricardo Binnie are also making good names for themselves. Since publication, Raphael Palmieri Salomão has been promoted to partner, effective January 2022.

Testimonials

‘Good knowledge of the financial industry and issues related to data protection and the consumer. The firm differs through its ability to think about how innovative solutions can be built without hurting the existing legal and regulating architecture.’

Bruno Balduccini, Raphael Salomão, Alessandra Martins and Larissa Galimberti are recommended.’

Pinheiro Neto’s lawyers are technically very specialized and competent. In addition, what really sets them apart from the rest is their experience, especially in the banking regulatory area and payment methods. It’s hard to have any topic they haven’t yet experienced.’

Key clients

Banco Bradesco

Itau Unibanco

Banco Santander

XP Investimentos

Nubank

PicPay

UBS

JP Morgan

Goldman Sachs

BTG Pactual

Banrisul

HSBC

PagSeguro

Stone

Citibank

Banco BMG

Banco do Brasil

Caixa Economica Federal

Advent International

Banco Votorantim

Work highlights

  • Advised Finergy (CPFL), Cora, N26, Stark, CredNovo and several other clients’ applications as credit fintechs before the Central Bank.
  • Advised BofA Securities, Banco BTG Pactual, Goldman Sachs, Itaú BBA USA Securities, and J.P. Morgan Securities as underwriters on a $700m issue of Tier 1 Subordinated Notes by Itaú Unibanco Holding.
  • Advised a syndicate of 16 banks on a R$15.2bn loan to the National Electric Power Agency and CCEE with a view to easing the financial struggle of electricity distributors following the decrease in electricity consumption due to the Covid-19 pandemic.

BMA - Barbosa, Müssnich, Aragão

'Combining legal knowledge with a practical view of the business', BMA - Barbosa, Müssnich, Aragão has a strong track record in complex financings, particularly for major corporate borrowers. Acquisition financings feature prominently on the firm's workload, although in the past year the firm was also heavily active on the debt restructuring side, both for creditors and debtors. The team also has strong relationships with the banks for distressed debt deals. Camila Goldberg leads the team, with support from Rafael Dutra, who is particularly experienced on the project finance side. Recently promoted partners Conrado de Castro Stievani and Felipe Prado are both experienced in debt capital markets and structured finance.

Practice head(s):

Camila Goldberg

Testimonials

‘The firm combines the legal knowledge with a practical view of the business, contributing with effective proposals that are usually easily implemented.’

‘Extremely sophisticated firm, demonstrating a high understanding of the complexities of the local legal setting.’

‘BMA carries out its activities with quality, always respecting the deadlines indicated. It provides good time and human resources, and a clear and organized working methodology.’

‘Camila Goldberg – extensive knowledge of banking law and knowledge of the business.’

Key clients

BHP Billiton

XP Investimentos

Banco BTG Pactual

Agence Française de Dévéloppement

Centerbridge Partners LP

Quadra Capital

Prisma Capital

Technos

Oi

Leste Global Investments

Enforce Gestão de Ativos

Work highlights

  • Represented Banco BTG Pactual and Enforce Gestão de Ativos in the acquisition and securitisation of R$2.9bn of non-performing loans (NPLs) originally held by Banco do Brasil against its clients.
  • Represented Magnamed Tecnologia Médica in a transaction with the federal government for the supply of  lung ventilators for treating Covid-19 patients in intensive care.
  • Represented Agence Française de Dévéloppement in all Brazilian law aspects of a €200m credit facility to the Federative Republic of Brazil, to help finance governmental emergency aid programmes.

Demarest Advogados

Demarest Advogados' well-regarded banking and finance team is led by 'excellent attorney' Fabio de Almeida Braga, who is especially experienced in regulatory matters, often advising on fintech and the development of digital platforms. The team as a whole offers a wide range of expertise, with particular areas of strength including trade and project finance, and financings in key industries such as agribusiness and automotive. Senior associate Marcelo Simon Ikeziri is also an active member of the team, with good experience in project finance, debt restructurings and syndicated loans. Helen Naves left the firm in July 2021.

Practice head(s):

Fabio de Almeida Braga

Testimonials

‘The Demarest team have a deep knowledge of Brazilian regulatory matters. Fabio Braga is an excellent attorney and is always available to respond any questions and solve any problems.’

‘The quality and the main capabilities are excellent, always willing to find the best solution and best routing to the problems presented.’

Key clients

NH Latam Investments & Securities

Stone Pagamentos

KEO World

Mosaico Negócios de Internet

Creditas Soluções Financeiras

StartMeUp Crowdfunding Sistema para Investimentos Colaborativos

Transunion

PNC Bank, National Association

Bank of America

Banco Agibank

Banco Inter

Nike Inc

Natura Cosméticos

B3 – Brasil, Bolsa, Balcão, Mercadorias e Futuros

Companhia de Geração e Transmissão de Energia Elétrica do Sul do Brasil – Eletrobras CGT Eletrosul

Banco Rendimento

China Development Bank

Solar.Br Participações

Banco Santander (Brasil)

Moksha8 Brasil Distribuidora e Representação de Medicamentos

Digital Realty

Establishment Holdings

Bank of China Luxembourg Branch

Moto Honda da Amazônia

Banco Honda

Banco Crédit Agricole Brasil

Ezentis Brasil

PGS Investigação Petrolífera

Petroleum Geo-Services

Banco BTG Pactual

Osher & Osher Administração de Imóveis

Work highlights

  • Advised Export Development Canada on an $80m loan granted to Neoenergia.
  • Advised Solar.br Participações  and its affiliate Tocantins Refrigerantes to constitute a digital financial platform SOLARPAY to attend clients and users of digital financial services.
  • Advised Bank of America on a security restructuring under a $1.15bn credit agreement.

Lefosse Advogados

Lefosse Advogados continues to invest heavily in its banking practice. The recruitment of Kenneth Antunes Ferreira from TozziniFreire Advogados, who is active on the structured finance side, was a strong show of intent. The team as a whole has a good reputation for domestic and cross-border financings and restructurings, including infrastructure loans and acquisition finance. Regulatory advice to banks and payment institutions is another area of strength, and the firm is playing an increasingly prominent role in the fintech space, as demonstrated by its work for PayPal Ventures. Lead partners within the team include Renata Cardoso, Roberto Zarour and Ricardo Prado.

Practice head(s):

Renata Cardoso; Ricardo Prado; Roberto Zarour Filho; Kenneth Antunes Ferreira

Testimonials

Kenneth Ferreira is recommended.’

Key clients

XP Investimentos

Bunge

Itaú

SACE

Petrobrás

Commerzbank

Citibank

Banco do Brasil

Aegea

JBS

Work highlights

  • Advised the lead creditors on the multimillion-dollar refinancing and corporate restructuring of the Benteler Group.
  • Acted as special Brazilian counsel to S-Velame Administração de Recursos e Participações, which is the controlling entity of Lojas Americanas, in connection with a €308m Margin Loan and Guaranty Agreement.
  • Acted as counsel with respect to Brazilian law matters to PayPal Ventures and affiliates in connection with PayPal’s participation in the $300m Series C investment round secured by Neon Pagamentos, a Brazilian fintech.

TozziniFreire Advogados

TozziniFreire Advogados is a popular choice for banking and finance advice, and is especially active on the regulatory front, thanks in part to the expertise of Alexei Bonamin, who is also strong on the capital markets side. The firm has established strong institutional relationships with several key domestic and international banks, which it advises on the full suite of compliance issues, including obtaining licenses and fintech-related matters. The team is also active on the transactional front, representing creditors and debtors, including providing advice on several significant refinancings. Other key partners include Gustavo Rabello and Fabíola Augusta Cavalcanti. In internal developments, the team saw the departure of Kenneth Antunes Ferreira in late 2020.

Practice head(s):

Alexei Bonamin

Key clients

Agricultural Bank of China

Bank of New York Mellon

BNP Paribas

J.P. Morgan

Tenpay

OPIC – Overseas Private Investment Corp.

World Bank

Morgan Stanley

International Finance Corporation (IFC)

Bank of America Corporation

Banco Société Générale Brasil

Raízen

Revelo

Impact Bank

Facebook Inc

Decolar

Koin

Raidiam Services Limited

Vert

Alume

Work highlights

  • Advised Raidiam, a fintech company responsible for delivering a suitable trust framework for Open Banking Systems, during the negotiations of an agreement that will regulate the duties and obligations of Raidiam when rendering its services in Brazil.
  • Advised Sitawi Finanças do Bem (a local NGO that develops financial social impact solutions and analyses companies’ and financial institutions’ social environmental performance) to structure the first crowd-lending platform to finance social and environmental impact businesses.
  • Advised Facebook on regulatory matters related to payment services in Brazil that would apply to different Facebook products in the country.

Veirano Advogados

Veirano Advogados has a versatile banking and finance practice, which is as comfortable in acquisition, project and corporate financings as it is in specialised areas such as asset finance. Rio de Janeiro-based practice head Marcelo Mattos has a strong pedigree for cross-border loans to key industries such as oil and gas, shipping and mining. This feeds into the team's workload, which often includes providing advice to major domestic and international lenders. Other key partners include Ana Carolina Barretto, who leads the São Paulo team and is especially strong on the project finance side. Daniela Anversa is noted for her debt capital markets expertise, while Rogério Campos in Rio is also strong in ship finance.

Practice head(s):

Marcelo Mattos

Testimonials

‘Marcelo is very responsive and timely with his advice. He is very commercial and communicative as well.’

Key clients

Shell Gas

Equinox Gold

Natixis

SpeedCast International

Weatherford Indústria e Comércio

Osprey Point Investments V

DVB Bank

Rabobank

Vinci Partners

Global Power Generation

DNB Bank

Work highlights

  • Acted as counsel to Shell in the R$2.06bn financing to Marlim Azul Energia for the implementation of a greenfield 565.5MW gas-fired thermal power plant in the state of Rio de Janeiro.
  • Acted as counsel to Canadian mining company Equinox and its affiliates in connection with a $290m syndicated facility and note issuance that will be partially used to pay Sprott Private Resource Lending’s then existing debt.
  • Acted as Brazilian counsel to French bank Natixis, acting as sole structuring bank, underwriter and lead arranger for the restructuring of a $290m senior secured project financing for the development and installation of the Seabras-1 project.

Stocche Forbes Advogados

Stocche Forbes Advogados is recommended for its versatile transactional practice, which is popular with lenders and borrowers. The team is regularly involved in complex cross-border acquisition and structured financings and has also been involved in several high-profile debt renegotiations and restructurings. Key partners include Guilherme Forbes, who has developed strong relationships with leading banks, multilateral agencies and private equity sponsors. Henrique Filizzola is highly experienced in debt capital markets and structured and acquisition finance. Frederico Moura in Rio de Janeiro is also well regarded. Since publicationMiriam Signor left the firm, in April 2022.

Practice head(s):

Guilherme Forbes; Henrique Filizzola; Marcos Ribeiro

Testimonials

‘The firm stands out for technical quality. In addition, all discussions have the partner present and all members are extremely accessible for conversations and discussions.’

Key clients

Engie

Éléctricite de France

State Grid

EIG Partners

Equatorial Energia

Golar LNG

Banco (Santander) Brasil

Itaú Unibanco

Energisa

Neoenergia

Celse – Centrais Elétricas De Sergipe

Citigroup

Morgan Stanley

Banco Bradesco

Qair Brasil

Banco Btg Pactual

Voltalia

Brookfield Energia Renovável

Ômega Energia

Votorantim Energia

Work highlights

  • Advised the lenders, including Commerzbank, Goldman Sachs International and Landesbank Baden-Würteemberg on a €445m loan to All4Labels Management.
  • Advised the lenders on a €1.12bn loan to Nordex, secured by its subsidiaries, including Nordex Energy Brasil – Comércio e Indústria de Equipamentos.
  • Advised Yduqs Participações on a $25m financing from Citibank.

Tauil & Chequer Advogados

Tauil & Chequer Advogados offers a broad range of expertise to its domestic and international clients, including in cross-border syndicated loans, restructurings, acquisition financings, and trade and project finance. The multi-faceted team represents an impressive mix of lenders, multilateral organisations and private equity funds. Practice head Eduardo Lima has a strong track record in transactional and regulatory matters. Luis Montes is active in project finance, both for sponsors and lenders. Counsel Priscilla Santos balances a broad and capital markets practice with a particular focus on regulation related to Brazilian investment funds.

Practice head(s):

Eduardo Lima; Luís Montes; Priscilla Santos

Testimonials

‘Excellent lawyers, with great feedback and knowledge of the subjects.’

‘Network of staff, with international support, is a differential.’

‘Luis Montes stands out by virtue of his technique.’

‘Eduardo Lima is an excellent professional.’

Key clients

Banco Santander (Brasil)

Banco Bradesco

Banco Credit Agricole do Brasil

Banco BTG Pactual

Banco Itau BBA

Banco ABC Brasil

ING Bank

Banco do Brasil

Braskem

Bank of China

Work highlights

  • Advised Banco Bradesco, Bank of China, Itau Unibanco and Banco do Brasil, among others, as lenders in connection with a project finance transaction for Bracell Intl.
  • Advised Banco BTG Pactual as lender in connection with a R$400m bridge loan financing for Infraestrutura Brasil Holding IV for the development of the Ventos de São Vitor Wind Power Generation Farm.
  • Represented Banco Credit Agricole do Brasil, Banco Santander (Brasil), Banco BTG Pactual and Banco ABC Brasil on a R$600m out-of-court debt restructuring of Concessionária Move São Paulo, the concessionaire of the Line 6 of the São Paulo subway.

Campos Mello Advogados in cooperation with DLA Piper

Campos Mello Advogados in cooperation with DLA Piper is a strong choice for regulatory banking and transactional finance advice. The firm’s association with DLA Piper gives it exposure to cross-border matters, including significant acquisition and project financings. Other areas of expertise include asset-backed securitisations, debt restructurings and export finance. The team is jointly led by the versatile Roberto Vianna do R Barros, who has strong regulatory expertise, and Jorge Gallo, who is also noted for his debt capital markets work.

Practice head(s):

Roberto Vianna do R Barros; Jorge Gallo

Testimonials

‘Jorge Barbieri Gallo offers good knowledge of the customer’s market and technical knowledge for operations, as well as agility in responses.’

Agility and precision in the provision of services.’

Key clients

Deutsche Bank

Starboard Restructuring Partners Consultoria em Negócios

Banco Santander (Brasil)

Banco RCI Brasil

Rio Alto Comercializadora de Energia

Aymoré Crédito, Financiamento e Investimentos

Hyatt Hotels Corporation

Cascione Pulino Boulos Advogados

Banking and payments regulatory advice are core areas for Cascione Pulino Boulos Advogados' well-regarded team. The firm's expertise extends to the fintech industry, where it represents banks and technology providers on the full range of issues, including partnership agreements. Marcelo Padua Lima is especially active on the regulatory and payments side, and is also experienced in foreign investment and foreign exchange regulation. Founding partner Fábio de Souza Aranha Cascione is the main contact for domestic and cross-border transactions, including syndicated loans and project finance.

Practice head(s):

Fábio de Souza Aranha Cascione; Marcelo Padua Lima

Testimonials

‘Cascione’s team work in close partnership with us. They know our business, which makes it easier to explain new issues and obtain better answers.’

‘The firm has a team that specializes in banking and payments. They are able to provide us with quality, specialized and assertive advice, considering the large grey area that permeates the legal/regulating environment of the means of payments. There are few firms in the market that have this practice that meets the demand of my company.’

‘Marcelo Padua Lima has extensive knowledge of our sector, providing excellent quality and agile advice.’

Key clients

Google Brasil Pagamentos

HSBC Brasil  – Banco de Investimento

Leroy Merlin Companhia Brasileira de Bricolagem

Bom Negócio Atividades de Internet  (OLX)

Hash Lab Soluções Pagamentos

Banco Votorantim

Caixa Econômica Federal

MovilePay

99 Tecnologia

Work highlights

  • Assisting Google’s payment entity in Brazil in connection with the offering of different payment products and services to Brazilian users, as well as cross border transactions and payment flows.
  • Advised 99 on the analysis of new payment services and solutions to offer to Brazilian clients and drivers; partnerships to offer innovative products and services; and contractual obligations related to the relationships with acquirers and payments arrangers.
  • Advised OLX on the negotiation of payment scheme participation agreements; structuring of benefit programmes for clients of the marketplace; and review and negotiation of partnership agreements for launching new products and services.

Dias Carneiro Advogados

Dias Carneiro Advogados has established a notable practice in advising multilateral lenders, including the IFC and the Inter-American Development Bank. This has led to a good grounding in cross-border financings, including infrastructure projects across key sectors such as renewables, oil and gas, mining, sanitation, ports and telecoms. Corporate finance work also features prominently, advising borrowers and lenders on M&A, restructurings and structured finance. Practice head Thiago Vallandro Flores receives strong support from Ricardo Sanches on project finance, as well as Gustavo Junqueira and Paulo Leme.

Practice head(s):

Thiago Vallandro Flores

Testimonials

‘Good availability of the partners and excellent quality of the work delivered by the firm.’

‘Very pro assets, pro business and creative in the judicial solutions to issues that arise.’

Thiago Flores – Gustavo Junqueira – Rodrigo Murissi – Arthur Fontoura: Everyone is very proactive, available and creative to face the legal issues presented by the transactions.

Key clients

Inter-American Development Bank

China Development Bank Corporation

Voltalia Group

Banco KEB Hana

USJ – Açúcar e Álcool

International Finance Corporation

EDP Renováveis

Corporación Interamericana para el Financiamiento de Infraestructura

Biosev

Kinea Investimentos

DNB Bank

Work highlights

  • Advised IDB Invest and Norway’s DNB on a combined loan to Atlas Renewable Energy to finance Jacaranda renewable energy projects in Brazil.
  • Assisted IDB Invest on an innovative loan to the Albert Einstein Hospital, the first long-term financing by IDB Invest to be fully governed by Brazilian law; The credit is part of an emergency line created by IDB Invest to combat Covid-19.
  • Advised CIFI as purchaser of $15m worth of Umoe Bioenergy’s floating rate notes due 2028.

Lobo de Rizzo Advogados

Lobo de Rizzo Advogados has a growing team, with good expertise across a range of key areas including structured financing, restructurings, project finance and acquisition finance. The practice is jointly led by Fabrizio de Oliveira Sasdelli and Milton Pinatti, and acts for a mix of borrowers and lenders. The debt capital markets practice was boosted by the recruitment of new partner Maria Costa Neves Machado from Pinheiro Guimarães.

Vidigal Neto Advogados

Vidigal Neto Advogados' clients benefit from the significant expertise of founding partner Rubens Vidigal Neto, who is prominent in the banking legal market. The firm was especially active on the regulatory side in 2020, particularly in relation to fintech companies and payment institutions. The team also balances a relevant transactional practice, particularly in structured and acquisition finance, and debt capital markets. Fernanda Mary Sonoki is a key practitioner in the team.

Practice head(s):

Rubens Vidigal Neto

Testimonials

‘Technical excellence and a lot of attention to the customer.’

‘Rubens Vidigal – scholarly, efficient, high quality work.’

Key clients

Banco BMG

Banco Paulista

Nu Financeira

National Association of Participants in Trade Receivables Funds (Associação Nacional dos Participantes em Fundos de Investimento em Direitos Creditórios Multicedentes e Multissacados – ANFIDC)

Banco Itaú BBA

XP Investimentos CCTVM

Omni Crédito, Financiamento e Investimento

CREDZ Administradora de Cartões de Crédito

Fortbrasil Administradora de Cartões de Crédito

Work highlights

  • Advised ANFIDC under a public consultation procedure of the BACEN on its regulation regarding the activities of bookkeeping, registration, liquidation and negotiation of electronic trade bills.
  • Assisted CREDZ, a major independent credit card administration company,  in the structuring of a R$8m public offer, with restricted placement efforts, of commercial promissory notes.
  • Assisted Banco Paulista in the implementation of a corporate reorganisation, the end result of which was to turn Socopa – a securities brokerage in the Brazilian capital markets – into a separate and independent financial institution.

Candido Martins Advogados

Candido Martins Advogados saw a large increase in debt renegotiation work as a result of the Covid-19 pandemic. An example of this was its advice to InterCement Group on R$4.6bn local bond issues to refinance short-term debts. In ordinary times the practice is also noted for its impressive acquisition finance capabilities, particularly on the private equity side. The firm is also increasingly active in sustainable debt issues and ESG investments generally. Renata Simon leads the team, and founding partner Henrique Martins is also an experienced practitioner. Partner Daniel Rodrigues Alves focuses on leveraged finance.

Practice head(s):

Renata Simon

Testimonials

‘Renata Simon possesses an exceptional track-record, conducts operations from start to finish, is always available and has a lot of negotiating ability.’

Senior partners with extensive experience, who effectively get involved in the operations.’

Key clients

GEF Capital Partners

Intercement Participações

Intercement Brasil

Natural One Gestão Patrimonial

Restoque Comércio e Confecção de Roupas

Companhia Nacional do Álcool (CNA)

Unicoba Baterias e Participações

Hemisfério Sul Investimentos

G5 Partners

Luminae

Tecverde Engenharia

Mtel Telecomunicações

Work highlights

  • Advised InterCement Participações on two issuances of debentures under a restricted public offering to professional investors.
  • Advised G5 FIDC Fund on the acquisition of non-standardised receivables arising from the purchase price of equity interest in Desenvix related to energy generation contracts.
  • Advised Natural One Gestão Patrimonial on the public issuance, with restricted efforts, of R$30.6m of real estate receivables certificates (CRI) backed by real estate credits owned by Natural One Gestão Patrimonial.

Felsberg Advogados

Felsberg Advogados has an active transactional banking practice led by the well-regarded Maria da Graça. The practice stands out in project and aviation finance, and represents a mix of banks, borrowers and multilateral agencies. Other areas of expertise include structured and acquisition finance, securitisations and syndicated loans. The department expanded in July 2021 with the arrival of banking and capital markets expert Ricardo Higashitani from KLA Advogados.

Practice head(s):

Maria da Graça

Testimonials

‘The firm provides the services for which it had been hired with extreme quality.’

The office acted in causes of enormous importance to the company I work for, always demonstrating availability, care and technical quality.’

Key clients

Bank Leumi USA

Renova Energia

Monazita Resources

Work highlights

  • Advised BNP Paribas on the release of a guarantee granted by Tradecorp do Brasil Comércio de Insumos Agrícolas as part of a €628.3m security package of senior facilities.
  • Advised Bank Leumi USA on a $20m secured credit facility extended to Marco International Corporation and other companies, including Marco Brasil Industria e Distribuição de Produtos Siderurgicos.
  • Advised Bank Leumi USA on a $24m credit line to Stemcor USA.

KLA Advogados

KLA Advogados represents a varied mix of domestic and international banks and financial services companies, and has developed strong relationships with emerging companies in the fintech space. Debtor clients also regularly use the firm in debt renegotiations, trade finance deals and structured financings. Fernanda Levy has established a strong track record in banking and related capital markets work.

Practice head(s):

Fernanda Levy

Testimonials

‘Attentive and helpful. Good availability to meet and clear communication.’

Fernanda Levy is recommended.’

Key clients

Cinemark

Cred-System

Iguatemi Empresa de Shopping Centers

Standard Bank group

National Australia Bank

Technicolor

Grupo Jereissati Participações

Banco Digimais

Bari Group

GoBots

Plastipak

Fundação Itaipu de Assistencia e Previdência

Anima Educação

Ilumno Holdings

Hughes Telecomunicações

HSI

M&C Saatchi

Gremmi Intl

Work highlights

  • Advised Standard Bank group in connection with facilities granted to foreign companies and credit support from their Brazilian parent companies, including a MZN1.5bn facility granted to Cimentos de Moçambique.
  • Advised Cinemark Brasil on the contracting and negotiation of loans with BNDES under a new audio-visual credit line.
  • Advised Cred-System in the incorporation of SCD (Credit Fintech), and acted in the group’s corporate reorganisation.

Santos Neto Advogados

Santos Neto Advogados has an impressive transactional practice and a particularly good track record in large-value trade finance deals, thanks in part to its knowledge of the agribusiness and commodities sectors. The firm represents a mix of domestic and international banks, and is also experienced in debt restructurings, debt capital markets, syndicated loans and financial services regulatory matters. Lead partner Domicio dos Santos Neto has relevant and extensive experience in the market. Gabriel Buscarini Leutewiler left the firm in June 2021.

Practice head(s):

Domicio dos Santos Neto

Testimonials

Santos Neto Advogados has deep knowledge of the Brazilian market and legislation. Hiring them means having access to legal knowledge as well as knowledge about the country and the market.’

Domicio dos Santos Neto is a brilliant and accessible lawyer. ‘

Key clients

Corporacion Andina de Fomento – CAF

ING Bank

IDB

Banco Azteca

ABN AMRO Bank

Natixis

Crédit Agricole Corporate Investment Bank

AMERRA

Rabobank

Bradesco

Work highlights

  • Advised Rabobank, as coordinator, on the Brazilian law aspects of a $120m club deal structured in the form of an export prepayment facility for Caramuru Alimentos.
  • Assisted AMERRA, as lender, in several financing transactions with an aggregate value of $850m with several Brazilian borrowers.
  • Advised ING Bank on a $150m syndicated sustainable-linked pre-export financing to Tereos.

Trench Rossi Watanabe

Trench Rossi Watanabe has good experience acting for borrowers and lenders. The firm's association with Baker McKenzie is of benefit in major cross-border deals, and the team has been involved in several high-profile energy-related project financings. The department's workload also includes regulatory advice and support on structured finance and capital markets. Luis Ambrósio leads the practice.

Practice head(s):

Luis Ambrósio

Testimonials

‘In-depth knowledge of the subject. Availability at any time, knowledge of our business and our company.’

‘Luis Ambrósio and his team have provided in the past valuable services. They are always attentive and available.’

Key clients

Braskem

GTM Holdings

Citigroup

Apple

Nintendo

Credit Suisse

Natura

Work highlights

  • Advised Citicorp International as agent of a syndicate of banks on the negotiation of a refinancing facilities agreement and assets fiduciary lien agreement with Ski Carbon Black (Mauritius) as borrower and Birla Carbon Brasil as guarantor.
  • Advised SBF, the owner of the sporting goods retailer Centauro, on the negotiation of a loan with BTG Pactual for the acquisition of Nike operations in Brazil.
  • Advised ED&F Man regarding the regulatory aspects of the sale of a brokerage firm in Brazil.

Vella Pugliese Buosi e Guidoni Advogados

Vella Pugliese Buosi e Guidoni Advogados has an active borrower and lender side practice, with a notable following among several key international banks. Its advice ranges from the transactional through to the regulatory, with particular strengths in project and trade finance. Lead partners Rodrigo Vella and Gabriella Maranesi Najjar are both active in this area, and have a strong pedigree for cross-border transactions. The firm's strategic alliance with Dentons adds weight to its multi-jurisdictional capabilities.

Practice head(s):

Rodrigo Vella; Gabriella Maranesi Najjar

Key clients

Terna

Companhia Paranaense de Energia – Copel (Grupo Copel)

Bank of America Merryll Lynch

Banco Santander (Brazil and Spain)

Banco BTG Pactual

Barclays Bank

Cooperatieve Rabobank

Morgan Stanley

Citibank

Rumo

State Bank of India

PNC Bank, National Association

Lassalle College International

PayPal

Mirador – Minería, Ingeniería y Construccion

Roku

Work highlights

  • Advising Terna, an Italian listed energy company, through its subsidiary Terna Plus, in connection with the financing to develop two concessions to construct and operate 350km of transmission lines in Brazil.
  • Advising Rabobank on the Brazilian law aspects of its supplier finance programme involving more than 42 jurisdictions, including Brazil.
  • Advised Barclays Bank on the Brazilian law aspects of a revolving credit facility granted to S4 Capital Acquisitions 3, a subsidiary of S4 Capital.