Firms To Watch: Banking and finance

Alessandri & Compañía Abogados' banking and finance services leader, Fernando Jamarne, has extensive experience in banking law and corporate finance; his expertise encompasses public bids, bond issuances, syndicated loans, private issues and loan contracts.

Banking and finance in Chile

Barros & Errázuriz

The sizeable and specialised banking and finance team at full-service firm Barros & Errázuriz acts for both lenders and borrowers on complex financial transactions. The group is particularly noted for energy and infrastructure project financings, and is also highly involved in banking regulatory work and the development of new financial services by traditional banking institutions. Project and corporate finance expert Francisco De la Barra, and cross-border finance transactions specialist Enrique Barros Vial co-lead the practice. Nicolás Balmaceda, who has approximately 25 years’ banking and finance experience, is also highly rated, as is finance expert Bernardo Simian; while in March 2022, up-and-coming lawyer María Olga Rivera, whose practice is focused on structured and corporate finance, was elevated to the partnership. Within the senior associate pool, Valentina Villalobos is a well-regarded project and corporate finance lawyer.

Key clients

Banco de Crédito e Inversiones

Compañía de Petróleos de Chile

Inversiones Kaufmann

Comercial Motores de los Andes

Interchile

Interconexión Eléctrica

Sociedad Concesionaria Puente Industrial

Pacific Hydro Chile

Banco Santander-Chile

Banco Security

Banco de Crédito e Inversiones

Scotiabank

Banco Bilbao Vizcaya Argentaria

Ameris Capital

Mitsui & Co

Cobra Instalaciones y Servicios

Pacífico Cable

Linzor Capital

Work highlights

  • Advised Banco de Crédito e Inversiones, Scotiabank Chile, Banco BTG Pactual Chile, Banco Internacional, Itaú Corpbanca, Banco Bice and Banco Consorcio (as lenders) on the granting of a high-value loan to GTD Grupo Teleductos.
  • Advised Sociedad Concesionaria Puente Industrial on a credit agreement with Banco del Estado de Chile and Banco Security.
  • Advised Interchile on the issuance of its project bonds.

Carey

With extensive experience in advising creditors, investors and borrowers on the full range of banking and financial transactions, Carey‘s 19-strong practice is consistently sought out for its expertise in bilateral and syndicated loans, liability management issues, and public and private offerings and placements of capital and debt. The group also houses specialists in project finance, structured products and derivatives. A raft of six principal figures includes: Diego Peralta, who advises on the creation and structuring of financial products and all aspects of business financings; Felipe Moro, a specialist in lending deals, project finance, structured products and derivatives; the highly regarded Salvador Valdés, who is particularly active with investment banks and asset managers; and Francisco Ugarte, who advises both corporations and financial institutions on financial matters. Partner-level bench strength has been notably deepened with the elevation to the partnership of Fernando Noriega (whose practice is centred on bank-lending, project finance and capital markets) and Alejandra Daroch (who routinely acts for banks, financial institutions and debtors) in April and November, respectively.

Testimonials

Expertise, market knowledge and speed.

Francisco Ugarte stands out for his knowledge of our business, strategic view and international experience.

Personally, I highlight Francisco Ugarte this year, for his knowledge of our business, strategic view and international experience.

Key clients

Qatar Airways

Celeo Redes

Enel Américas

China Construction Bank

Nabiax

The Bank of Nova Scotia

Mainstream Renewable Power

Banco del Estado de Chile

Banco Santander

Sumitomo Mitsui Bank

Corporación Interamericana para el Financiamiento de Infraestructura

Work highlights

  • Advised Qatar Airways on the negotiation and execution of a debtor-in-possession financing for LATAM Airlines during the latter’s Chapter 11-related reorganisation process.
  • Advised China Construction Bank (Asia), as facility agent, and other banks, on a syndicated credit agreement for approximately $350m for the refinancing of Pacific Hydro Chile’s existing debt under a previous syndicated credit agreement executed in 2017.
  • Assisted Enel Américas with a revolving credit facility granted by a syndicate of international banks for up to $500m.

Claro & Cia.

Claro & Cia.'s sizeable, almost 30-strong, banking and financing practice has an enviable track record in terms of structuring complex financial products and banking deals. The team’s representative expertise ranges from multilateral and cross-border financings, to project finance, structured solutions and lending. Key figures in the department include Rodrigo Ochagavía, whose specialisms include corporate and project finance, banking, capital markets and energy; senior partner and head of the firm's M&A practice José María Eyzaguirre B, whose expertise also takes in banking, finance and capital markets; and Cristóbal Eyzaguirre, who -while best known for his  highly-rated litigation practice- also advises on banking, finance, capital markets and reorganisations. Other names to note are banking and finance and project finance expert Jorge MartínJosé Luis Ambrosy (corporate finance, capital markets and international finance transactions); energy and project financing specialist Ariel Mihovilovic; and José María Eyzaguirre F, who is active in project finance. In 2021, former counsel Jaime Salas moved to Boza & Muirhead Abogados, while former associate Gerardo Otero left to co-found financial-data platform, Aevum.

Testimonials

Excellent work team that is super-prepared professionally – it shows that the lawyers have great experience in their subjects and stand out from the teams of other offices.

The 24/7 availability makes you feel as if you are the only client, and the lawyers are available to resolve all doubts or problems that arise throughout the negotiation of the transaction.

We would highlight José Luis Ambrosy, an excellent lawyer who focuses on the really important things and negotiates efficiently.

Key clients

Latam Airlines Group

Invercap

JP Morgan Securities

AES Andes

Sumitomo Mitsui Banking Corporation

Enfragen – Glenfarne

X-Elio

Compañía Sud Americana de Vapores

Agrosuper

Atlas Renewable Energy

Work highlights

  • Assisted LATAM with a debtor-in-possession loan agreement (within the context of its Chapter 11 reorganisation proceeding in New York).
  • Advised EnfraGen Energía Sur, Prime Energía and EnfraGen Spain on a $1.05bn bank debt package.
  • Advised AES Andes, Colbún, Enel Green Power Chile, Enel Generación Chile, Engie Energía Chile, Eólica Monte Redondo and Guacolda Energía on what is believed to be Latin America’s first-ever tariff stabilisation financing.

Morales & Besa

Morales & Besa‘s specialised 14-strong banking and finance team is regularly mandated by both local and international clients on restructurings, syndicated loans, derivatives, and structured and -particularly for infrastructure and energy matters- project finance; moreover, it enjoys a particularly strong bank-side client base. The practice also houses experts in regulatory issues, distressed debt, and the financing of acquisitions and LBOs. the department is co-led by José Miguel Carvajal, who has approximately two decades’ experience advising on significant finance deals; and Myriam Barahona, whose recent track record includes leading advice to DNB and Coöperatieve Rabobank on the refinancing of the outstanding loans of Cultivos Yadrán. With experience in insolvency, bankruptcy and restructuring matters, Rocio Vergara was hired as senior associate from the Superintendency of Insolvency in April 2021, while associate Bernardo Mora recently departed to pursue an LLM degree (but is expected to return to the firm).

Testimonials

Availability, expertise and business mindset.

Key clients

Banco Security

DNB

Banco Santander Chile

Scotiabank Chile

Banco de Crédito e Inversiones

BTG Pactual Chile

Itaú Corpbanca

Coöperative Rabobank

Sumitomo Mitsui Banking Corporation

Work highlights

  • Advised Global Infrastructure Partners on a $325m financing granted to its subsidiary, Glacier Acquisition, in relation to the acquisition of 49% of Chile Renovables from AES Gener.
  • Advised a syndicate of four international banks (Sumitomo Mitsui Banking Corporation, DNB Bank ASA, MUFG Bank and Instituto de Crédito) on the $208.7m restructuring of loans granted to PE Cabo Leones III.
  • Advised DNB Bank ASA, Coöperatieve Rabobank and Banco Santander-Chile on the $200m refinancing of a facility granted to Salmones Camanchaca.

Philippi Prietocarrizosa Ferrero DU & Uría

Punching above its weight, the nine-member banking and finance team at full-service firm Philippi Prietocarrizosa Ferrero DU & Uría is consistently sought out by foreign and local banks and financial institutions, as well as by borrowers and sponsors. Core areas for the ‘best finance team in Chile’ include project finance (in the energy, mining and infrastructure sectors), syndicated finance aircraft leasing and financing operations; and offshore bonds and shares issuances. The practice is co-led by highly-reputed banking, finance and capital markets specialist Marcelo Armas; and Marcela Silva, whose track record includes the financing of mining, infrastructure and energy projects (from hydroelectric, solar and wind energy facilities to desalination plants). Banking, finance and infrastructure projects expert Andrés Sanfuentes is also a key senior practitioner; while at associate level, principal, Daniel Parodi, whose experience includes working as a foreign law associate in White & Case LLP‘s Miami office; and the ‘very good‘ senior, Pedro Pablo Valenzuela, who is active in banking, finance, infrastructure and capital markets matters, are both up-and-coming practitioners of note.

Practice head(s):

Marcelo Armas; Marcela Silva

Testimonials

Huge knowledge of local legislation and very experienced in matters such as promissory notes and real guarantees.

The best finance team in Chile. Very experienced attorneys, with great knowledge of the industry, and their advice is always agile.

Its lawyers transmit a lot of security with their advice, and its client portfolio means the lawyers are always involved in the most relevant transactions – real experts in their field.

Great management of matters, providing us with pertinent and expeditious advice, and good connection with other team members.

Good availability, with friendly treatment. The lawyers differ from competitors due to their great professional commitment to the client’s needs.

Marcelo Armas is accessible when you need him, and provides helpful and pragmatic advice.

Senior associate Pedro Pablo Valenzuela is very good.

Key clients

The Bank of Nova Scotia

MUFG Bank

Credit Agricole Corporate & Investment Bank

Export Development Canada

DEG – Deutsche Investitions- und Entwicklungsgesellschaft

Scotiabank Chile

Banco Santander-Chile

Ibereólica Renovables Chile

Global Power Generation

Repsol Chile

Hidroeléctrica Río Colorado

LATAM Airlines Group

Work highlights

  • Acted as local Chilean counsel to Bank of Nova Scotia; Scotiabank Chile, Banco de Crédito de Inversiones, BTG Pactual Chile, Banco Consorcio, Banco Internacional and Banco Santander-Chile on a credit agreement to finance the acquisition of Telefónica Chile’s wholesale fibre optic network by KKR.
  • Advised BNP Paribas, Crédit Agricole Corporate and Investment Bank, Mizuho Bank and Sumitomo Mitsui Banking Corporation (as lenders) on a $152m refinancing for the potential expansion of a reverse-osmosis desalination plant.
  • Advised Ibereólica Renovables Chile and Global Power Generation (as Chilean counsel to the sponsors) on the $217m senior financing of a 235MW wind farm.

Baker McKenzie Chile

Baker McKenzie Chile‘s multi-disciplinary team has enviable expertise in structuring, negotiating and documenting financial transactions, on behalf of commercial, merchant and investment banks, as well as corporate users of credit. The practice is co-led by the Chilean office’s member of the firm’s Steering Committee for banking and finance in Latin America, Sebastián Vivanco, who specialises in banking regulatory, derivatives, corporate finance and syndicated loans, in conjunction with project finance specialist Jaime Munro. Additional senior support is provided by of counsel León Larrain, who has deep banking and finance experience, particularly as regards corporate and project finance, and private equity transaction. From the associate pool, both Cristóbal Larrain, whose practice encompasses banking, M&A, capital markets and private equity, along with corporate and project finance (and who additoinally has expertise in Latin America deals under New York law); and Jose Ignacio Berner, whose practice covers banking, finance, corporate and commercial matters, are also noted.

Key clients

HSBC

Bank of China (Hong Kong)

Banco Bilbao Vizcaya Argentaria

Mizuho Bank

Natixis

BNP Paribas

ING Capital

Société Générale

Huemul

General Motors Financial

Grupo Security

Mantos Copper

Cencosud

Banco Security

FONPLATA

Credicorp Capital

Work highlights

  • Advised Mantoverde on a $571.6m secured, syndicated, debt financing for the development of its sulphide project at its existing mining operation in the Region of Atacama.
  • Advised Natixis (New York Branch) and Banco Bilbao Vizcaya Argentaria (New York Branch), as lenders, on the green loan financing for the development, construction, exploitation and operation of power transmission lines by Centella Transmisión.
  • Advised HSBC, as lender, on the $70m financing granted to State Grid Chile Investment to refinance part of the acquisition of a 100% interest in Sempra Americas Bermuda II and 56.22% of Sempra International Holdings.

Cariola Díez Pérez-Cotapos

Routinely advising international banks, financial institutions, and private and state-owned companies, Cariola Díez Pérez-Cotapos‘ eleven-member banking and finance practice is particularly active in cross-border financings and structured finance transactions with complex security packages. Other key segments include project finance (particularly energy, mining and infrastructure projects); acquisition finance and domestic corporate financings; secured financing for agriculture producers and fish farming operations; and derivatives and trade finance. Fintech is also a growing area for the firm. The practice is co-led by senior partner, banking and finance veteran Francisco Illanes; renewable energy and infrastructure finance specialist Rodrigo Sepúlveda; and Juan Antonio Parodi, who has extensive experience in financing and refinancing transactions, syndicated loans and project finance. At senior associate level, Sergio Balharry‘s primarily corporate transactional practice also extends into  finance (and refinancing), securities matters and bankruptcy/restructuring.

Practice head(s):

Francisco Illanes; Rodrigo Sepúlveda; Juan Antonio Parodi

Testimonials

Recognised lawyers with prestige in the market.

Advice that builds trust and the lawyers are committed to the position and defence of our interests.

Rodrigo Sepúlveda is appreciated for his commitment, competence, management and results.

Key clients

Inter-American Development Bank

Inter-American Investment Corporation

Itaú Corpbanca

DNB Bank ASA

Rabobank

Commerzbank

Natixis (Hong Kong Branch)

Enel Chile

Esmax Distribución

Rentas e Inversiones Baker

Soltec Energías Renovables

BHP

Work highlights

  • Advised Inter-American Investment Corporation and the Inter-American Development Bank,as lenders, on a $125m financing to Engie Energía Chile for the development, construction, operation and maintenance of a renewable energy project.
  • Advised Natixis (Hong Kong Branch), as lender, on a credit facility, which was granted to State Grid Chile Holding.
  • Advised Itaú Corpbanca (as mandate lead arranger, administrative agent and lender) and Banco Santander-Chile, Banco del Estado de Chile and Banco de Crédito e Inversiones (as lenders) on the $70m restructuring of San Vicente Terminal Internacional (as borrower).

Garrigues Chile

With a strong roster of financial institution clients as well as concessionaires and project companies, Garrigues Chile's 12-strong practice handles a broad range of banking and finance work. Recent highlights include advising on the acquisition of receivables, syndicated project financing, lender-side restructuring, acquisition finance, and corporate lending. Heading up the group, Pedro García has some 20 years’ experience advising on financing, capital markets and projects. Also integral to the team, Jaime de Larraechea's practice encompasses corporate loans, project and structured finance, debt restructuring and regulatory matters. Raised to the partnership in January 2021, Antonio Morales focuses primarily on debt restructuring and project finance; while senior associate Federico Espinosa and associate María Francisca Correa are both on hand for matters involving corporate loans and project finance. Former senior associate Francisca Ferrer left for an in house role at Prime Energía in May 2021.

Practice head(s):

Pedro García

Key clients

AMP

Banco BICE

BCI

Banco de Chile

Banco del Estado de Chile

Banco Santander

Banco Santander-Chile

Banco Security

BCP

BNP

Central Bank of Chile

CIFI

Credit Suisse

EFE

Empresa Nacional del Petróleo

GTD

IDB Invest

Itaú Corpbanca

Macquarie

Mizuho

MUFG

Natixis

Rabobank

Scania

SMBC

Sociedad Concesionaria Ruta Nahuelbuta

Sociedad Concesionaria Teleférico Bicentenario

Scotiabank Chile

Work highlights

  • Advised Citibank, The Bank of Nova Scotia, BNP Paribas and Banco de Chile on a $340m financing granted to Glacier AcquisitionCo to acquire approximately 49% of Chile Renovables.
  • Advised Arroyo Energy and its investment vehicle Inversiones Arco 4 (as borrowers) on a $335m loan, granted by a syndicate of international and domestic lenders to finance the acquisition of Gasmar.
  • Advised a syndicate of banks, led by Itaú Corpbanca, on a $135m project financing loan which was granted to Sociedad Concesionaria del Norte to finance the construction of an access road for Minera Escondida.

Guerrero Olivos

With a longstanding track-record in both local and international engagements, Guerrero Olivos' 16-strong practice is routinely sought out for its expertise in bilateral and syndicated loans, structured finance, acquisition financing, restructurings, project finance, refinancing and regulatory issues. Clients additionally benefit from the group’s notable sector expertise in telecoms, energy and mining. the department is co-lead by Jorge Delpiano, a structured finance and acquisition financing specialist, and Miguel Coddou, who regularly acts for international lenders on syndicated loans, debt restructurings and project finance. Also key members of the group, Juan Enrique Allard's workload takes in financing matters as part of his broader TMT and digital platforms practice; while, César Gálvez, who was made up to partner in February 2022, has experience of cross-border financings and representing international lenders in syndicated loans (he previously worked as an international associate at Winston & Strawn LLP's New York office). At senior associate level, Benjamín Novoa focuses on energy and mining-related syndicated loans and project finance.

Practice head(s):

Miguel CoddouJorge Delpiano

Testimonials

Experienced teams, with very good availability and understanding of clients’ needs, and they have developed great expertise in complex project financings.

Key clients

BNP Paribas

BID Invest

Banco Santander

Kimura Commodity Trade Finance Fund

Scotiabank

Crédit Agricole

Banco Internacional

Anglo American Marketing

Banchile

Natixis (New York Branch)

Work highlights

  • Advised BID Invest/BNP Paribas/Banco Santander on structuring and implementing a $1.35bn financing transaction.
  • Advised Crédit Agricole on a loan facility for approximately €200m for the financing of the acquisition of 96.04% of Compañía General de Electricidad by State Grid.
  • Advised Cap Vert Energie (and its shareholders) on the negotiation of a loan agreement with Natixis for approximately $101m for the construction of a portfolio of photovoltaic energy projects.

Bofill Mir Abogados

The former Bofill, Mir & Álvarez Jana (BMAJ) split into three firms in March 2022, including Bofill Mir Abogados, which fields name partner Octavio Bofill,  a well known figure in the sector and who has particular expertise in structured finance operations. He co-heads the practice with Rodrigo Saffirio, who assists lenders with transport infrastructure, energy and mining-related financings; and Ana María Yuri, who has niche specialisation advising both real estate investment groups and energy-sector debtors, as part of her wider finance practice. The group also handles bankruptcy and restructuring. Appointed director of the corporate, energy and natural resources and project development practice in June 2022, Victoria Salazar is also experienced in financing deals; while key senior associates include Feliciano Tomarelli, who assists with both project finance and capital markets matters. Former BMAJ founding partner Alejandro Álvarez launched his own firm with José Antonio Velasco.

Practice head(s):

Octavio Bofill

Testimonials

World-class partners – comparable to New York offices.

Octavio Bofill has a sophisticated understanding of complex issues, great negotiation skills, and extraordinary problem-solving abilities.

Octavio Bofill is a lawyer with extensive experience, legally excellent and extremely concerned about his clients.

CMS Carey & Allende

CMS Carey & Allende's five-member team handles syndicated loans, project finance and receivables-based credit agreements, with other key areas ranging from debt restructuring to the financing of international expansion plans and capital markets transactions. Clients also benefit from the group’s ability to leverage the expertise of M&A colleagues during big-ticket acquisition financings. Leading the group, Fernando De Cárcer's experience includes advising publicly-held companies on the issuance, registration and placement of securities. Other key advisers include hospitality, finance and natural resources specialist Jorge Allende Destuet; and senior associate Enrique Vergara, who advises both local and foreign clients on banking and finance matters.

Practice head(s):

Fernando De Cárcer

Key clients

KKR

Sun Dreams

Sun International

Elecnor

Nevasa Administradora General de Fondos

AKA Bank

Nueva Inversiones Pacífico Sur

Work highlights

  • Advised KKR on a financing for the acquisition of 60% of Telefónica Chile’s fibre optic network.
  • Advised Dreams on renegotiating and refinancing a syndicated $152m loan granted by BCI, Banco Estado, Scotiabank Chile and Banco de Chile.
  • Assisted AKA with a credit agreement that was granted to Chile-incorporated Transmat.

Cuatrecasas

Having opened its Chilean office in 2020, international law firm Cuatrecasas launched a Santiago-based banking and finance practice in early 2021, recruiting project finance and capital markets specialist Macarena Ravinet and banking and finance expert Roberto Guerrero V from Guerrero Olivos. The deeply experienced Guerrero’s recent highlights include advising CAP on a $152m credit facility for its subsidiary Cleanairtech (Aguas CAP). The team is highly active in structuring the full range of financing operations, particularly restructurings, refinancing and project finance, as well as handling banking regulatory issues. The partner level bench was given additional depth with the hire of Alfonso Ugarte; previously at the former Baraona Fischer Spiess, he advises both creditors and debtors on structured financing transactions, bankruptcy restructuring and reorganisation, and on distressed financing. Since research concluded, Ugarte has relocated to the firm's New York office - effective as of September 2022.

Key clients

JP Morgan

Goldman Sachs

Banco de Crédito e Inversiones

Banco Security

Penta Seguros de Vida

Banco Itaú Corpbanca

CAP

Compañía General de Electricidad

Omni Management Company

Omni Loan Management Company

Greensill Citibank International (Hong Kong)

PagoNxt

Inversiones CMPC

Interconexión Eléctrica

Work highlights

  • Advised an ad hoc group of bondholders on the multi-jurisdictional restructuring of OHL’s group debt and corporate structure.
  • Advised JP Morgan and Goldman Sachs, as global coordinators, on both a bond issue by Andean Telecom Partners (in Chile, Peru, Colombia and the US), and a revolving credit facility.
  • Advised CAP on both the $139m refinancing of its subsidiary Cleanairtech (Aguas CAP) and on a new $152m credit facility.

DLA Piper Chile

The Santiago office of DLA Piper Chile is highly experienced in advising banks, financial institutions and syndicated club banks on structured finance and multilateral transactions. The practice group also extends to project finance and associated matters (particularly in the solar energy segment), while on the banking side, the team is also active in regulatory work. It additionally stands out for its advice to entrepreneurs during financial closings. Leading the banking and finance practice, Mauricio Halpern has extensive experience in acting as counsel for banks, borrowers and sponsors, while Matías Zegers  is a highly regarded investment-funds specialist. Among the associate ranks, the ‘very talented' Natalia Cox regularly assists with credit operations, and corporate, structured and project financing.

Testimonials

The firm’s banking and financing operation is very good and with a pro-business approach.

Associate Natalia Cox is very talented and completely available to discuss all relevant topics. She has good content management and is on top of everything, which makes her a lawyer with a very active approach.

Natalia Cox has great communication with the client and her experience makes her very autonomous.

Key clients

Oaktree Capital Management

Axesat Chile

CarbonFree Technology

Work highlights

  • Advised Oaktree Capital Management on the granting of an up-to $750m financing to LATAM Airlines Group and other group entities.
  • Advised Axesat Chile as guarantor of a credit agreement.
  • Advised CarbonFree Technology, as borrower, on the financing granted by Deutsche Bank Trust Company Americas for the acquisition and/or development and maintenance of several solar energy projects.

Honorato | Delaveau

The experienced banking and finance department at Honorato | Delaveau covers M&A-related finance, restructuring, and bankruptcy and liquidation matters, as well as advising creditors and debtors on international financing-related collateralised and non-collateralised loans. The practice group’s principal figures are project finance expert Matías Langevin; structured and asset-backed finance specialist Sebastián Delpiano; and Antonia Vial, a real estate project financing associate. The group can also draw on the experience and expertise of name partners José Luis Honorato and Gonzalo Delaveau, both of whom were formerly in house in the sector (at JP Morgan Chase and Chase Manhattan Bank, respectively). Recent growth includes the early 2021 recruitment of Felipe Divin (as partner) from a brokerage service company to head up the firm’s corporate governance, financial regulation and IT team. Since research concluded, the firm has also hired Ignacio Araya Paredes (as of September 2022); he arrives as a senior associate focusing on fintech (and corporate) matters from Banco Central de Chile.

Larrain y Asociados Abogados

With avery healthy bank-side client roster, the five-strong banking and finance group at Larrain y Asociados Abogados has longstanding experience advising banks, brokers and financial institutions and companies on syndicated loans, acquisition and structured finance, along with project financing in the petrochemical, mining and infrastructure sectors. The team is also active in financings that are obtained via bond issuances. Heading the group, Patricio Montes is a project finance specialist, while Jorge Granic is noted for the financing of industrial projects. Elevated to the partnership in January 2022, Diego Garay 's practice encompasses securities regulation, project financing and corporate law. Michelle Inzunza and Teresita Vinagre are up-and-coming young associates.

Practice head(s):

Patricio Montes

Testimonials

Very good lawyers and with a high degree of commitment to the client.

Key clients

Banco Internacional

Banco BCI

Banco BTG Pactual

Banco de Chile

Banco del Estado de Chile

Banco Security

Nordex Energy Chile

Banco BTG

Banco Internacional

Penta Vida Compañía de Seguros

4Life Seguros de Vida

Tanner Servicios Financieros

CHL Administradora

Centella Transmisión

Transchile Charrúa Transmisión

Banco Consorcio

Generadora Metropolitana

Itaú Corpbanca

Banco del Estado de Chile

Banco de Crédito e Inversiones

Work highlights

  • Advised Generadora Metropolitana on a $980m project financing.
  • Advised a bank syndicate comprising Banco del Estado de Chile and Banco de Crédito e Inversiones on a $420m financing granted to Sociedad Concesionaria Ruta de la Fruta.
  • Advised Nordex Energy Chile on the amendment and restatement of a €1.4bn multicurrency guarantee facility agreement.

MBC Abogados

Fielding a sizeable 12-strong team, MBC Abogados‘ primarily borrower-side practice is frequently involved in high-stakes and high-value transactions, particularly in relation to the real estate sector. The group advises companies on mortgage loans, leaseback transactions and credit facility agreements; with other key areas including refinancing and bond issuances, along with real estate project development. Co-heading the team are experienced finance partners Carolina Menichetti and Benjamín Salas; and at senior associate level, real estate specialist Sybil O’Reilly. Growth at associate level saw the firm hire a pair of seniors in June 2021, namely Florencia Grez (financing transactions) and Guillermo Bobenrieth, who works on debt finance deals, from Cariola Díez Pérez-Cotapos and Silva Ibáñez Abogados, respectively.

Key clients

Patio Comercial

Rentas Patio I

Rentas Patio X

Fondo de Inversión LV-Patio Renta Inmobiliaria I

La Dehesa Comercio

Patio Residencial

Grupo Patio

Parque Capital

El Morro

Fondo de Inversión Privado Patio y Gestión

LV-Patio Renta Inmobiliaria IV

Desarrollos Comerciales

Inmobiliaria Mirador Azul Uno

Pregi

Grupo MK

Inmobiliaria Pajaritos Dos

Inversiones Santa Teresita

Work highlights

  • Advising Desarrollos y Bodegas I, LV-Patio Renta Inmobiliaria Puerto Montt and LV-Patio Renta Inmobiliaria III on the restructuring of their existing leasing agreements with Principal Compañía de Seguros de Vida Chile.
  • Advised Rentas Patio I, Patio Comercial and Rentas Patio X on negotiations with Banco Santander-Chile surrounding an asset acquisition financing.
  • Assisted Grupo Patio and Patio Comercial (and other related companies) with the renewal of a multi-tranche, revolving credit facility with Banco Security.

Prieto Abogados

Although traditionally focused on debtor-side work, Prieto Abogados' banking and finance group is increasingly sought out by lender groups for high-profile international financing transactions and debt restructurings, particularly in relation to the mining sector and automotive industries. ‘Very eager to help', the practice is also actively involved in complex financial restructurings, insolvency proceedings and debt recovery matters. The practice is co-led by project finance expert Mario Gorziglia, who also heads the tax team; Nicolás Yuraszeck, whose broad corporate practice includes project finance; and bankruptcy and insolvency specialist Benjamín Grebe. With extensive experience in financing work, former senior associate Isabel Monge was recently elevated to counsel; while June-2020 hire, senior associate Anibal Larrain advises clients on finance,  M&A and joint venture transactions.

Testimonials

The people I have worked with have been very eager to help and clarify any doubts about legal terms and processes, always proposing possible solutions to help us.

Clarity in their explanations, with excellent English when required to speak with US attorneys.

Key clients

Banco de Crédito e Inversiones

BNP Paribas

Export Finance Australia

ING Capital

MUFG Bank

Natixis

Société Générale

Elliott Management Corporation

Bain Capital

Consorcio Seguros

Banco Consorcio

Rockville Energy Holdings

Engie Energía Chile

Transmisora Eléctrica del Norte

Asociación de Bancos e Instituciones Financieras

Solarity

Work highlights

  • Advising Chilean generating company, Solarity, on a financing deal with Banco BCI for its new businesses.
  • Advising Rockville Energy Holdings (and its sponsor Fondo de Inversión Rockville Solar Energy I Fund) on negotiations with Natixis (New York Branch) for an approximately $100m project finance debt facility.
  • Advised a syndicate of local and international lenders on negotiations with Mantos Copper for the granting of a $571.6m project finance debt facility to its subsidiary Mantoverde, so as to fund the expansion of the Mantoverde development copper mining project.

Ried Fabres

Ried Fabres ‘ 12-strong group has longstanding experience advising on loans, major finance deals, project finance, international and local bonds, regulatory issues and derivatives trading. Jointly heading the department, Cristián Fabres is a securitisation specialist, while José Miguel Ried has over 20 years’ experience advising on banking, finance and capital markets matters. Additional key names include Ricardo Abogabir, whose practice covers finance transactions, bond offerings, regulatory issues, and local and international derivatives; and Jaime Hirschberg who was promoted to partner in January 2022. Capital markets associate Ariadna Beroiz re-joined the firm from Alcaíno | Abogados in November 2021.

Testimonials

A team with experience in the legal structuring of complex financing transactions. The main differentiating element is the degree of involvement of the firm’s partners and the speed of response.

Key clients

BCI Group

BICE Group

Itaú Corpbanca

BTG Pactual

Zurich Group

Deutsche Bank

Banco Santander

Credicorp Capital

Larraín Vial

Tanner Group

Ameris Capital

Consorcio

Falcom Capital

Venturance

Volcom Capital Administradora General de Fondos

Caja La Araucana

Invinsa Administradora de Fondos

Work highlights

  • Advised state-owned company, Empresa de Transporte de Pasajeros Metro, on a $650m international notes offering.
  • Assisted Banco Santander with a financing granted to State Grid in relation to the company’s $3bn tender offer for GCE.
  • Advised BCI Asset Management on the structuring and negotiation of a financing granted byits funds Fondo de Inversión BCI HLC I and Fondo BCI HLC Perfeccionamiento to Hipotecaria La Construcción.

Urenda, Rencoret, Orrego y Dörr

Fielding a nine-strong team, Urenda, Rencoret, Orrego y Dörr has a strong reputation for debt transactions and offerings, securities, derivatives, and equity offerings, along with structured finance, securitisations and regulatory matters. The firm also has a robust mining and energy project financing practice. In recent highlights, the team advised Minera Escondida on an amended and restated syndicated loan agreement to refinance $300m of the loan for an additional five years. The team is co-led by Felipe Rencoret Portales, whose practice includes debt deals and offerings, along with regulatory work; and mining industry expert Nicholas Mocarquer, who assists both borrowers and lenders. At senior associate level, Rafael Rencoret‘s finance practice covers capital markets, bankruptcy and restructuring.

Key clients

BHP

Yamana Gold

Minera Escondida

International Finance Corporation

GE Capital Aviation Services

Inmobiliaria Mall Viña del Mar

Sparebanken Møre

The Bank of New York Mellon

Bancolombia

Banistmo

Fiberhome Communication Technology

Work highlights

  • Advised Minera Escondida on an amended and restated syndicated loan agreement.
  • Advised Inmobiliaria Mall Viña del Mar on the amendment of a $106m credit facility with Scotiabank.
  • Advised Minera Escondida on the execution of loan documentation with Banco Estado, Scotiabank Chile and Banco Santander-Chile for the issuance of bank bonds and standby letters of credit.

Alvarez Abogados

Following the dissolution of Bofill, Mir & Álvarez Jana (BMAJ) in March 2022, former BMAJ co-founder and corporate, banking and finance practice co-head Alejandro Álvarez founded Alvarez Abogados. With a 25 year trajectory at partner level, he is deeply experienced in corporate finance matters, particularly international financings. His fellow partner, José Antonio Velasco, is similarly experienced across corporate, banking and finance law – his recent experience includes acting on a multimillion-dollar hydroelectric project financing. At associate level, both Manuel Sánchez and Joaquín Recart are experienced seniors. Octavio Bofill  launched his own firm in conjunction with Rodrigo Saffirio  and Ana María Yuri.

Baraona Marshall & Cía

Formed further to Baraona Fischer & Cía’s January 2021 dissolution, Baraona Marshall & Cía 's seven-member team advises creditors, debtors and guarantors on both corporate and structured finance as well as handling infrastructure project finance; clients report a team that ‘always delivers a world-class service'. Practice group head and ‘great lawyer', Raúl Marshall, is a finance and derivatives expert. Fellow name partner (and widely respected tax expert) Juan Pablo Baraona also advises on banking and finance matters. The partner level bench was further strengthened with the raising of finance specialist Rodolfo Vega to the partnership in November 2021. However, associate Jeanne Marie Miquel   left the firm to return to Triple Jump in a consultancy role.

Practice head(s):

Raúl Marshall

Testimonials

Comprehensive knowledge of regulations – and not only do they know the law, they know business and this radically increases the probability of closing deals.

The team is always ready to assist the client and always delivers a world-class service.

The commitment of the partners to being involved in transactions gives us the confidence that our interests are protected.

Quick responses and knowledge of what they do.

Always available and resolve issues quickly.

Raúl Marshall is a great lawyer for financial structuring and capital markets. His drive towards doing business, and understanding the needs and objectives of clients, make Baraona Marshall a world-class ally for financial business.

Key clients

TMF Group

Itaú Corpbanca

Banco de Crédito e Inversiones

Banco Security

AFP Habitat

AFP Provida

AFP Modelo

Banco Itaú Argentina

Sociedad Concesionaria Costanera Norte

Astaldi Concessioni (Chile Branch)

Scotiabank

Banco del Estado de Chile

Banco Santander

Banco Internacional

BTG Pactual Chile

MIKOPO

Psinet

Kinza Capital

Sacyr Concesiones Chile

Fingo

Red Andes Salud

Gestión Solar

Atacama Invesment

Asesoría e Inversiones Benjamín

Work highlights

  • Advised TMF Group on a transaction involving the incorporation of a SPV entity under Chilean law, which in turn purchased (from Chilean electric generating companies) certain receivables against Chilean distribution companies.
  • Advised Itaú Corpbanca on the restructuring of existing loans provided to Inversiones Hoteleras Holding.
  • Assisted Banco de Crédito e Inversiones with structuring the financing of Inmobiliaria Invinsa Puerta Del Mar’s acquisition of two warehousing facilities.

Clyde & Co Chile

Clyde & Co Chile opened its doors in August 2022 following the merger of Grasty Quintana Majlis (which already had an association with the London-based multinantional firm) and Halpern Pino. The banking team is regularly sought out for its advice on syndicated and bilateral credit facilities, also demonstrates experience in project financings, and frequently assists start-up companies and venture capital firms with investment finance. Franco Acchiardo‘s track record includes substantial financing and capital market deals. However, former managing partner Juan Turner left the firm in June 2022 to join VC-company, Daedalus Ventures.

Coeymans, Edwards, Poblete & Dittborn

Coeymans, Edwards, Poblete & Dittborn has a strong track record in real estate and M&A financing work. It also fields specialists in the financing of growth assets by banks, financial institutions and private lenders. Founding partners Alejandro Edwards, whose broad practice includes project finance; and Tomás Poblete, who assists with energy projects, are the principal practice contacts. At associate level, José Manuel Errázuriz 's practice also encompasses project finance work.

Dentons Larrain Rencoret

The seven-member department at Dentons Larrain Rencoret is frequently involved in corporate and project finance, restructurings and reschedulings, particularly in relation to the energy, mining, agriculture, and financial services sectors. The team is also regularly mandated by local companies to advise on secured loans from local and international banks. Heading the practice, seasoned finance expert Felipe Rencoret Prieto acts for Chilean banks, foreign financial institutions and multilateral lenders. Rencoret is also in charge of the Santiago office’s capital markets department. A member of both the corporate and banking and finance practices, Luis Izquierdo was raised to the partnership in November 2021. However, fellow former senior, Nicolás Reyes Donoso left the firm in January 2022.

Practice head(s):

Felipe Rencoret

Testimonials

Having links to Dentons’ worldwide network generates important synergies when receiving advice that often has a global vision- this is highly appreciated.

Key clients

Banco de Crédito de Inversiones

Inter-American Investment Corporation

Banco Santander Chile

Banco BTG Pactual Chile

Credit Agricole CIB

Itau Corpbanca

International Finance Corporation

Banco Internacional

Corporacion Interamericana para el Financiamiento de Infraestructura

Tanner Servicios Financieros

Work highlights

  • Assisted Banco de Credito e Inversiones with the structuring and execution of documentation for the facility granted to Fontus Prime Solar to purchase 13 photovoltaic projects in Chile.
  • Advised Banco de Credito e Inversiones, Scotiabank Chile, Banco Santander-Chile and Itaú Corpbanca on the refinancing of liabilities and additional financing for Sun International Chile.
  • Advised Abengoa Chile on negotiating the payment conditions of local indebtedness with a syndicate of local banks.

Fischer y Cía

Fischer y Cía was formed further to the January 2021 split of Baraona Fischer & Cía, retaining Cristóbal Herrera  as managing partner, and speedily recruiting former Prieto Abogados‘ partner Gerardo Cruzat   as transactions head. The team’s primary activities range from corporate financings to debt restructurings and financial guarantees, but it also houses additional experience in securities, insurance and banking regulation. Co-leading the banking and finance practice alongside Cruzat, Herrera’s practice spans capital markets, financing and derivatives, while Cruzat’s track record includes advising on project finance, banking, securities regulations and insurance.

Testimonials

Agility accompanied by experience and business knowledge.

Very committed to good customer service. The lawyers give confidence, based on their knowledge of the subjects under discussion.

A very strong team that is committed to its clients – always willing to answer our questions.

Gerardo Cruzat always helps to speed up transactions.

Key clients

Falabella

Servicios Financieros Progreso

CMA Clínica Costanera

General Motors

Samsung Electronics

Work highlights

  • Advised CMA Clínica Costanera on a syndicated loan for the construction of a hospital.

Fontaine & Cía

Fontaine & Cía‘s six-strong practice is noted for its expertise in real estate project financing, syndicated loans, liability restructuring, and raising capital through alternative means. The group’s client base has a strong insurance company constituent – notably life insurance companies such as Metlife Chile Seguros de Vida and Penta Vida Compañía de Seguros de Vida – along with several family offices. Heading the finance and capital markets department, Juan Eduardo Troncoso is experienced in advising institutions on investment matters; at associate level, Sebastián Garrido is the key figure and handles both project finance and restructuring work. Former fellow assocaiate Camila Aranda left the firm in May 2021.

Practice head(s):

Juan Eduardo Troncoso

Key clients

Metlife Chile Seguros de Vida

Penta Vida Compañía de Seguros de Vida

Chilena Consolidada Seguros de Vida

Excel Capital

Principal Compañía de Seguros de Vida

Compañía de Seguros Confuturo

BTG Pactual Compañía de Seguros de Vida

Activa Fondo de Inversión Inmobiliaria

Work highlights

  • Advised Metlife Chile Seguros de Vida on a real estate financing operation involving Inmobiliaria San Pedro.
  • Assisted Chilena Consolidada with a leaseback operation for a commercial property.
  • Advised Metlife Chile Seguros de Vida on a mortgage financing operation, which comprised a transferrable mortgage loan.

Jara Del Favero Abogados

With over 25 years’ experience in corporate finance law, Jara Del Favero Abogados houses experts in both domestic and international corporate finance and structured deals. Felipe Ovalle, who acts for borrowers, purchasers, sellers, investors and financial advisers, co-heads the practice with real estate and technology finance specialist Sven Herlin and bond-offerings expert Alvaro Caviedes. Former associate practice-director, capital markets specialist Christian Schiessler, was raised to the partnership in July 2022; he also regularly assists with the structuring of financing operations.

Testimonials

A team with experience in the legal structuring of complex financing transactions. The main differentiating element is in the degree of involvement of the firm’s partners and the speed of response to the different requirements.

The team’s human qualities and empathy help guide us to make the best decisions in the calmest way possible.

Always willing to advise us in the best way, being attentive to our needs and working as quickly as possible on the most urgent things.

Key clients

Minera Los Pelambres

Compañía Minera Zaldivar

Antofagasta

The Palpa Company

Forum Servicios Financiero

Work highlights

  • Assisted Minera Los Pelambres with an amended and restated loan agreement for the INCO Project.
  • Advised Compañía Minera Zaldivar on the disbursements procedures under a current loan.
  • Advised Forum Servicios Financieros, as borrower, on the negotiation of a syndicated loan agreement with Banco Latinoamericano de Comercio Exterior.