Firms To Watch: Banking and finance

The seven-strong banking and finance services group at Alessandri & Compañía Abogados is led by experienced banking legislation and corporate finance partner Fernando Jamarne, whose practice covers public bids, bond issues, syndicated loans and private placements.
Ontier Chile's banking and finance department was created in December 2022 when banking, finance and regulatory specialist Javier Edwards was recruited from EDN Abogados to head up the practice; he has extensive in-house experience at entities such as BBVA (Chile and New York) and Finning South America, and since his arrival has also been appointed office managing partner - effective as of May 2023.

Banking and finance in Chile

Barros & Errázuriz

The large, specialised banking and finance team at Barros & Errázuriz has evolved from being primarily borrower-focused to representing predominantly lenders, as it does today, while maintaining an active borrower-facing practice. It particularly stands out for its energy and infrastructure project-finance expertise, and benefits notably from the firm’s ability to leverage the expertise of its real estate, energy, environmental and regulatory practices. The firm is also part of the Affinitas network, which facilitates the regular exchange of information on regional banking, finance and capital markets developments involving Colombia, Mexico and Peru. The department is co-led by project and corporate finance specialist Francisco De la Barra, and corporate and structured financing expert Enrique Barros. Also integral to the department are Bernardo Simian, whose broad practice covers financing and capital markets, and longstanding banking and finance lawyer Nicolás Balmaceda. The next line of key advisers features structured and corporate financing partner María Olga Rivera (who was raised to the partnership in March 2022), and Vicente Cordero, whose career includes several years working in New York. At senior associate level, both Valentina Villalobos and Nicole Ubal advise on project and corporate financing matters.

Practice head(s):

Francisco de la Barra; Enrique Barros


‘The team that B&E deploys is very effective in advancing financing transactions.’

‘Multidisciplinary and diverse, with great speed and flexibility to meet the client’s requirements; and very strong and effective ay interacting with office teams from NY or the UK.’

‘More flexible and faster than other firms, in addition to the fact that in general they are less confrontational with counterparts, conducting the process more effectively.’

‘They interact very well as a team, and are very quick to respond.’

‘Demonstrates in-depth knowledge of their specific areas of work, as well as extensive accumulated experience in similar areas, which is very effective when negotiating with counterparties.’

Key clients

Stonepeak Infrastructure Partners

The Bank of Nova Scotia

BNP Paribas

Sumitomo Mitsui Banking Corporation

Banco BTG Pactual


Banco Security


Work highlights

  • Advised CenturyLink Chile on its participation (as joint and several guarantor of a foreign entity) in both a credit agreement and an indenture agreement, which concerned the acquisition of Lumen’s Latin American operations by Stonepeak Partners.
  • Advised The Bank of Nova Scotia, BNP Paribas and Sumitomo Mitsui Banking Corporation on the coordination and issuance of a green loan credit facility in favour of Global Infrastructure Partners.
  • Advised Banco BTG Pactual on both its acquisition of existing loans from operating companies of Anpac Group and the granting of additional financing to Hidroeléctrica San Andrés.


The 19-strong practice at full-service legal powerhouse Carey houses experts in advising creditors, investors, and borrowers on the gamut of banking and financial transactions. Its representative expertise covers bilateral and syndicated loans (whether secured or unsecured), as well as liability management work. Other areas of strength are public and private offerings and placements of capital and debt, securitisations, project financing, structured product deals and derivatives operations. The group is co-led by six experienced partners, namely: Diego Peralta, whose recent highlights include leading advice to Qatar Airways (and its affiliates) on the debtor-in-possession financing for LATAM Airlines during the latter’s reorganisation; lending, project finance, structured product and derivatives specialist Felipe Moro; Fernando Noriega, who focuses on banking law, loan deals and project financing; Salvador Valdés, a go-to lawyer for several investment banks and asset managers; Francisco Ugarte, who assists both corporations and financial institutions with regulatory and finance work; and Alejandra Daroch, who has broad banking and finance experience.

Practice head(s):

Diego Peralta; Salvador Valdés; Francisco Ugarte; Felipe Moro; Fernando Noriega; Alejandra Daroch


They handle the financing contract very well, having a quick review in case of need or eventuality.

We work with Felipe Moro, who is very agile in his response, which helps a lot to be able to have an accurate response in a short time to be able to continue concentrating and solving the problem.

The members of the Carey firm are very knowledgeable about projects from their beginnings and are always attentive to any problem that may arise. The proposals and solutions they propose demonstrate their experience and ability to provide answers at the level requested. They even go further by offering various solutions for different problems.’

They have extensive experience and knowledge of the legal requirements of the field, including areas such as project finance, banking, corporate and financial contracts, among others. In particular, partner Felipe Moro and his team provide us with constant timely support.’

They not only understand the regulated industry in which we are active, but also project finance methodology, corporate governance, relationships with authorities, and the thinking of the foreign investor. They compare favorably and stand out compared to similar offices, demonstrating an extremely high spirit of collaboration, availability and flexibility.

Availability and flexibility, along with holistic knowledge of business and industry, and government relations.

Key clients

Goldman Sachs

Atento Holding Chile

International Finance Corporation

US International Development Finance Corporation

Sociedad de Transmisión Austral


Corporación Interamericana para el Financiamiento de Infraestructura

Qatar Airways Investments

Banco de Crédito e Inversiones


DNB Bank Asa

Itaú Corpbanca

Canadian Imperial Bank of Commerce

Renewable Resources Group

Aguas Pacífico


Digital Bridge

Work highlights

  • Advised Qatar Airways Investments (as one of the lenders) on the $3.7bn super priority debtor-in-possession loan financing granted to LATAM Airlines Group, which related to US insolvency Chapter 11 cases.
  • Advised International Development Finance Corporation, DNB Bank, Itaú Corpbanca, BCI and others, as lenders to Alto Maipo and Strabag, in relation to a restructuring support agreement during a Chapter 11 procedure.
  • Advised Canada’s Imperial Bank of Commerce on the amendment and extension of a corporate revolving credit facility that was granted to Capstone.

Claro & Cia.

The large banking and financing  department at full-service firm Claro & Cia. is a go-to practice for creditors, debtors, financiers and agents in relation to the development and implementation of both domestic and international banking and financial deals. The team’s expertise ranges from syndicated loans and LBOs, to structured products, derivatives and financial guarantees; it also demonstrates an enviable energy and infrastructure project-financing practice. Reflecting these capabilities, a stellar-year saw the practice lead advice to LATAM Airlines on its $3.7bn DIP loan agreement, including regional coordination of the matter across eight jurisdictions. Among the group’s several esteemed partners are prominent banking and finance specialist Rodrigo Ochagavía; Cristóbal Eyzaguirre, who assists with banking and finance matters (in addition to complex litigation); Jorge Martín, a specialist in project finance and bank and non-bank financing; and José Luis Ambrosy, whose broad practice covers corporate finance, international financing and capital markets deals. Also integral to the group are project finance lawyer José María Eyzaguirre F and M&A leader José María Eyzaguirre B. Former partner Ariel Mihovilovic  left the firm in February 2023 to become a candidate for Chile’s Constitutional Council.

Practice head(s):

Rodrigo Ochagavía; José María Eyzaguirre B


Simply excellent.

They are dynamic and understand the needs of business.

Key clients

Latam Airlines Group


JP Morgan Securities

AES Andes

Sumitomo Mitsui Banking Corporation

Enfragen – Glenfarne


Compañía Sud Americana de Vapores


Atlas Renewable Energy

Work highlights

  • Lead advisor to LATAM Airlines Group on its $3.7bn debtor-in-possession loan agreement and exit financing (along with certain of its affiliates) for the purpose of emerging from a Chapter 11 reorganisation proceeding in New York.
  • Advised JP Morgan Securities, Citigroup Global Markets, Santander Investment Securities and SMBC Nikko Securities America on structuring the $1.2bn financing to Alfa Desarrollo for the acquisition of Colbún Transmisión.
  • Advised JPMorgan Chase Bank, Goldman Sachs Bank USA, Citibank, Bank of America, Natixis (New York Branch), Deutsche Bank (New York Branch) and The Bank of Nova Scotia on the $1bn financing of the acquisition of a data centre business across LatAm by Patagonia Holdco.

Morales & Besa

Routinely advising both domestic and international clients from the financial, energy, infrastructure, entertainment and retail sectors, Morales & Besa's 12-strong practice is best known for its lender-side credentials, while also being sought out by major borrower clients. ‘Among the top-five Chilean law firms for cross-border financings', the practice acts on a wide range of banking and finance deals in relation to restructurings, syndicated loans, derivatives, and structured and project finance. It also assists with transactions involving distressed debt, acquisitions and LBOs. On the non-transactional side, the team is also experienced in assisting companies with licensing, regulatory and compliance matters. The practice is jointly led by José Miguel Carvajal, who has enviable experience in domestic and foreign loans, project finance, bond offerings, and foreign investment and foreign exchange matters; and infrastructure and energy project finance specialist Myriam Barahona, ‘undoubtedly the soul of this practice'. Former senior associate Rocio Vergara left to establish her own practice in September 2022.

Practice head(s):

José Miguel Carvajal; Myriam Barahona


The M&B finance and banking team gives confidence, a lot of technical knowledge, and great availability.

The team has deep experience in banking and finance and project finance.

Among the top-five Chilean law firms for cross-border financings.

Undoubtedly the soul of this practice is Myriam Barahona – availability, speed, precision and technique.

Partners Myriam Barahona and José Miguel Carvajal are solid, knowledgeable practitioners with substantial experience in the market.

M&B’s banking and finance team is the bank’s preferred choice, our point of reference when compared with other studies. It gives confidence, had a lot of technical knowledge and great availability.

Key clients


DNB Bank

Enerside Solar Chile I

EIG Atacama Management

Banco Security

Banco de Chile

Banco Santander-Chile


AK Chile Holdings

Sociedad Concesionaria Autopista del Aconcagua

Global Vía Infraestructuras Chile

Enel Chile


Multitiendas Corona



Banco de Crédito e Inversiones

Work highlights

  • Advised a syndicate of international banks, which involved Sumitomo Mitsui Banking Corporation and MUFG Bank, on a financing granted to Parque Solar Fotovoltaico Luz del Norte for the operation of a photovoltaic power plant.
  • Advised Banco Santander-Chile and Banco de Chile on a financing for the issuance of stand-by letters of credit and imports.
  • Advised Sumitomo Mitsui Banking Corporation, MUGF Bank and Banco Santander on a $200m refinancing granted to Amanecer Solar.

Baker McKenzie Chile

Baker McKenzie Chile's nine-strong multi-disciplinary group is experienced in structuring, negotiating and documenting a broad range of banking, financing and capital markets deals. Its expertise ranges from project finance, corporate loans and refinancing, to acquisition finance, derivatives, securitisations and regulatory advice. The practice’s key figures are Sebastián Vivanco, whose track record includes project finance transactions, including syndicated loan agreements and local security packages; of counsel León Larrain, an expert in telecoms, securities and real estate projects; and corporate finance and securitisation specialist Jaime Munro. Within the firm’s associate ranks, senior Cristóbal Larrain regularly works with the firm’s New York team on corporate and project financings across the Lat Am region; and Jose Ignacio Berner acts for Chilean and international companies on banking and finance matters.

Practice head(s):

Sebastián Vivanco; Jaime Munro; León Larrain

Key clients

Capstone Copper Corp

Banco Bilbao Vizcaya Argentaria

Société Générale

Trafigura PTE





Societe Generale Corporate and Investment Banking

The Hong Kong and Shanghai Banking Corporation

Landesbank Baden-Württemberg

PNC Bank, National Association

Credicorp Capital Asset management (Administradora General de Fondos)

Grupo Security

Grupo Vía Central

Work highlights

  • Advised Capstone Copper Corp (as borrower) on the amendment and extension of a Capstone corporate revolving credit facility with Canadian Imperial Bank of Commerce, The Bank of Nova Scotia, ING Capital, National Bank of Canada, Wells Fargo Bank (Canadian Branch), Citibank, Bank of Montreal and Royal Bank of Canada (as lenders).
  • Advised Natixis, New York Branch, (as coordinating mandated lead arranger, structuring bank, administrative agent and green loan coordinator) and Banco Bilbao Vizcaya Argentaria, New York Branch, (as mandated lead arranger) on an approximately $146m credit agreement to finance Centella Transmisión’s Centella and Tap Mauro power transmission line projects in Chile.
  • Advised Banco Bilbao Vizcaya Argentaria (as administrative agent and lender) on a $238m loan to Financiera de Desarrollo Nacional that was backed by the Multilateral Investment Guarantee Agency.

Bofill Mir Abogados

Emerging from the dissolution of Bofill, Mir & Álvarez Jana in early 2022, Bofill Mir Abogados' ‘first-rate‘ banking and finance team advises both borrowers and lenders, including banking and financial institutions, insurance companies and investment funds, on major financings at local and cross-border levels. The department’s expertise covers project finance, corporate and structured finance, and bilateral and syndicated loans, along with the refinancing and restructuring of existing financings, and it is particularly experienced in relation to  the mining, infrastructure, insurance and energy industries. The group is co-led by name partner and longstanding banking and finance specialist Octavio Bofill; ‘excellent professionalRodrigo Saffirio, whose specialisms include project finance, corporate loans and syndicated loan agreements; and banking, finance and capital markets expert Ana María Yuri. In recent boosts to the practice, transactional specialist Feliciano Tomarelli was elevated to the partnership in January 2023; and Victoria Salazar, whose practice covers capital markets, projects and aviation law, was made director in June 2022. The team is completed by senior associates Gonzalo Barceló and Antonia Ballacey, who are both experienced in corporate financing and project finance work.

Practice head(s):

Octavio Bofill; Rodrigo Saffirio; Ana María Yuri


A first-rate team that is made up of good lawyers with different levels of experience and specialisations, which provides a good mix to deliver a comprehensive service.’

An always available team with high technical knowledge and experience. Great availability of partners.’

Rodrigo Saffirio is an excellent professional – very concerned, focused on detail and actively involved in projects.

Rodrigo Saffirio makes sure to raise the critical points, while making them fit with clients’ needs and level of risk management.

Rodrigo Saffirio’s experience in matters is noticeable and he anticipates certain negotiations that have not been foreseen.

Key clients

Vivocorp’s ad hoc bondholders

Altis Investments

Bank of Nova Scotia

Centerbridge Partners


Bice Vida Compañía de Seguros


Energía Latina

Banco Consorcio

Work highlights

  • Advised a syndicate comprising Banco Consorcio and life insurance companies Bice Vida , Confuturo, Vida Security, Consorcio Seguros and CN Life on the restructuring of an ongoing financing agreement.
  • Advised Vivocorp’s ad hoc bondholders, other bondholders, and the representative of the bondholders on the legal aspects of the breach of certain obligations under bonds issued.
  • Advised a group of private investors (acting through investment bank and financial services company Altis Investment) on the development of a short-term financing agreement with Pampa Camarones.

Cariola Díez Pérez-Cotapos

The eleven-strong banking and finance practice at full-service firm Cariola Díez Pérez-Cotapos is routinely mandated on complex cross-border and structured finance deals. The department also houses specialists in project finance involving the energy, mining and infrastructure sectors; acquisition finance and domestic corporate financings; and significant restructurings of international and domestic corporations. It additionally fields experts in secured financings for agriculture producers and fish farming operations, as well as derivatives and trade finance. Regulatory work is another key practice for the firm, while fintech is a notable growth area. The team is jointly led by senior partner and finance, banking and capital markets expert Francisco Illanes; Rodrigo Sepúlveda, who routinely advises banks on the financing of electricity distribution and generation projects; and Juan Antonio Parodi, an expert in financing, refinancing, syndicated loans, and infrastructure project finance. Within the associate pool, Sergio Balharry‘s broad practice includes bond issuances, while Teresita Fernández's workload covers guarantees and credit documents.

Practice head(s):

Francisco Illanes; Rodrigo Sepúlveda; Juan Antonio Parodi


The banking and finance team is very experienced in financing and local corporate legal issues which are commonly associated with a financing transaction. They were also willing to go the extra mile and help us with certain tax-related queries which were not in their original service scope, and thus ensured a very smooth execution.

I worked with Rodrigo Sepulveda on three financing transactions involving a Chilean borrower. I find Rodrigo to be experienced, responsive, commercial and very reliable. As mentioned above, he was willing to help us on certain tax related issues given our lack of experience in similar type of transactions in the Latin American region and it was greatly appreciated.’

Key clients

DNB Bank




Enel Chile

Scotiabank Chile

Inter-American Development Bank

Inter-American Investment Corporation

Itaú Corpbanca


Cooke Aquaculture



Finameris Servicios Financieros

Inmobiliaria ISA

Work highlights

  • Advised Natixis, Hong Kong Branch (as lender) on a credit facility granted to State Grid Chile Electricity and guaranteed by China’s State Grid International Development.
  • Advised Coöperatieve Rabobank (as lender), on a $35m secured refinancing agreement with Chilean joint venture company Entrevientos for the refinancing of its process plant and working capital.
  • Acted as special Chilean counsel to The Bank of Nova Scotia (as administrative agent and lender) and Mizuho Bank, Milan Branch (as lender) on a $300m senior unsecured revolving credit agreement with Enel Chile for general corporate purposes.

Garrigues Chile

Garrigues Chile's 12-member banking and finance department routinely advises major Chilean and international banks as well as significant international and domestic corporate clients. Recent activity for the team focused on the acquisition of financial assets, project finance, restructurings, and corporate lending. The group is led by financing, capital markets and projects specialist Pedro García Morales, while the workload of fellow partner Jaime de Larraechea covers, project financing, structured finance, corporate lending, debt restructuring and regulatory issues. The second line of key advisers features debt restructuring and project finance expert Antonio Morales; and senior associate Ignacio Vargas, who is experienced in asset, acquisition and project finance, along with the restructuring of debt deals. At senior associate level the office saw the departures of Federico Espinosa and María Francisca Correa (for Cuatrecasas and energy company AES Andes, respectively) during the course of 2022.

Practice head(s):

Pedro García


Availability at all hours, always with a good delivery and predisposition.

Their way of interacting and eloquence when imparting information. I would highlight Antonio Morales.

Legal team specialised in the energy area with very good response times and the flexibility to understand client needs and achieve solutions to the inconveniences of the closing process.’

Antonio Morales stands out for his excellent attitude to participate and seek solutions for his clients and counterparts, as well as his technical knowledge in the field of energy – and also for his compliance with delivery times.’

Key clients

Banco de Chile

Banco Santander-Chile


Banco del Estado de Chile

Itaú Corpbanca


Itaú Corpbanca

Banco BICE

Banco Security

Banco Consorcio




Credit Agricole


Banco Santander







Grupo GTD

Nala Renewables


Work highlights

  • Advised Sacyr on a sustainability-linked syndicated facility (with 14 financial entities) to refinance €355m of corporate debt.
  • Advising Nala Renewables Chile on a $112m credit agreement.
  • Advised Empresa Nacional del Petróleo on an unsecured corporate loan granted by Mizuho Bank.

Guerrero Olivos

The 17-member banking and finance department at Guerrero Olivos is regularly mandated for cross-border project and acquisition financings, as well as debt restructuring deals. Such work frequently involves structured products and syndicated lending facilities. The team particularly excels in heavily-documented New York law-governed deals that comprise underlying collateral or credit enhancements. In recent highlights, the team was especially active in cross-border refinancings involving renewable energy portfolios. The ‘sophisticated‘ practice is co-led by syndicated loan, debt restructuring and project finance specialist Miguel CoddouJorge Delpiano, who advises on structured and acquisition financing deals; and international financing expert Juan Enrique Allard. Elevated to the partnership in February 2022 and January 2023, respectively, César Gálvez is a banking, finance, capital markets, corporate and M&A lawyer; and Benjamín Novoa assists with energy and mining sector-related syndicated loans and project finance. Within the firm’s associate pool, Sofía Middleton specialises in syndicated loans, debt-restructuring and project finance deals, while Florencia Cortés is active in project and acquisition finance work.

Practice head(s):

Miguel Coddou; Juan Enrique Allard; Jorge Delpiano


Especially in the area of project finance/energy, Guerrero Olivos has very detailed knowledge of the industry and its regulation, they are always informed about changes and trends, making them a very strong support in negotiations. They have a lot of experience in structured finance and are capable of carrying out very complex financing structures both under New York law (working jointly with US Counsels) and under Chilean law. Apart from their experience and knowledge, as a client, one of the main reasons I always think about hiring them is because of the commitment and dedication they show and deliver: they are always available and doing whatever is necessary to meet dates and commitments. I would like to highlight partner Benjamin Novoa with whom we work on all our financings and Sebastián Abogabir, an energy partner, both of whom (with their teams) have my full confidence – I plan to continue working with them.

A strong practice with knowledgable and experienced lawyers with in-house experience in the banking sector. Efficient staffing on deals, very practical approach to due diligence and transactional structuring.

Miguel Coddou, provides valuable guidance in connection with financing matters across the board. Very experienced and easy to work with. Sofia Middleton: excellent turn around and keeps things moving forward.

We are satisfied with the work carried out by GO during the last year. The firm’s financial / banking team is a sophisticated team with very good relationships with other law firms in Chile, which makes our work much easier.

Closeness in dealing with the client and a commercial approach.

Key clients

Natixis (New York branch)

Banco Santander

Matrix Renewables

EIG Global Energy Partners


Toesca Asset Management



Export Development Canada

Sumitomo Mitsui Banking Corporation

Kommunalkredit Austria

Credit Agricole

Cap Vert Energie


Nextenergy Capital


Work highlights

  • Advised Natixis (New York branch) on a $360m US private placement to refinance Carbon Free Technology’s photovoltaic portfolio in Chile.
  • Advised EIG Global Energy Partners and Fluxys on the $700m acquisition financing granted by a syndicate of banks (led by BNP Paribas).
  • Advised Solek (Czech energy company) on a $275m financing for the development of its solar portfolio in Chile.

Larrain y Asociados Abogados

Larrain y Asociados Abogados ' banking and finance practice routinely advises banks, insurance companies, agents and companies on large-value loans at both domestic and international levels. The six-member team’s credentials cover acquisition and structured financing, along with the financing of energy, petrochemical, mining, and public and private infrastructure projects. Recent work particularly focused on project finance deals, corporate and bilateral loan agreements, and the modification and restructuring of previously-negotiated credit facilities. The department features project finance specialists Patricio Montes and Diego Garay (a partner since early 2022), while energy and natural resources expert Jorge Granic advises on the financing of industrial projects. The next line of key advisers features Cristóbal Morandé and Joaquín Larrain, who are both active in project finance work; and experienced associates Teresita Vinagre and Michelle Inzunza.

Practice head(s):

Patricio Montes


Patricio Montes demonstrates great professional and managerial capacity. This has given us great confidence and support in relation to the financings that the bank has granted. A differentiating element is his ability to unblock conflicts and propose practical solutions. He also demonstrates leadership and executive presence.

They are highly focused on their clients.

The firm clearly has vast experience in structured financings.

Key clients

Banco Consorcio

Compañía de Seguros de Vida Consorcio Nacional de Seguros

Banco del Estado de Chile

Banco BCI

Banco Security

Reden Investments Chile

Reden Development Chile

Banco Internacional

Banco de Chile

Itaú Corpbanca

Work highlights

  • Advised Reden Investments Chile and Reden Development Chile on the issuance of international bonds under New York law.
  • Advised Banco de Chile, Banco del Estado de Chile, Banco BCI and others on the financing of a public works project called Sociedad Concesionaria Américo Vespucio Oriente.
  • Advised Banco Security on the negotiation, documentation and closing of additional financing granted to Fondo de Inversión Público Penta Las Américas Infraestructura Tres.

Philippi Prietocarrizosa Ferrero DU & Uría

With ‘extensive experience in financial matters‘, full-service legal practice Philippi Prietocarrizosa Ferrero DU & Uría fields a seven-member banking and finance practice that acts for both foreign and domestic banks and financial institutions (as well as borrowers and sponsors) on major transactions. Core areas for the group range from energy, mining and infrastructure project finance, to syndicated financing, aircraft finance (including aircraft lease and financing operations), and offshore bonds and shares issuances. Following the early 2023 departure of practice co-head Marcelo Armas , the group is jointly led by the ‘always well-informed and accessibleMarcela Silva, an expert in the financing of mining, infrastructure and energy projects; and recently-elevated director Daniel Parodi, who regularly assists with asset, project and corporate finance. The duo are also flanked by banking, finance and infrastructure projects expert Andrés Sanfuentes, along with senior associates Pedro Pablo Valenzuela (‘very independent and thorough‘) and Ignacio Chomalí, both of whom handle domestic and cross-border banking and finance deals, along with project finance work. Since publication, Parodi has been raised to the partnership - effective as of December 2023.

Practice head(s):

Marcela Silva; Daniel Parodi


The PPU team has extensive experience in financial matters – its experience in different industries with local and foreign clients makes the advice both suitable and effective.

Always available and willing to answer questions. Contributes creative ideas based on experience. Very good during negotiations when arguing the points and defending the client’s position.

Very diligent when it comes to complying with analysis and document delivery times.

Very responsive and clear in their statements. Prices are reasonable (more so than those of other players in the same jurisdiction).

Marcela Silva and senior associate Pedro Pablo Valenzuela are extraordinary professionals and great people.

Marcela Silva grants her associates a lot of freedom, but is always well informed and accessible.

Director Daniel Parodi has extensive experience and his friendly nature facilitates negotiations – very available to serve clients promptly and efficiently.

Pedro Pablo Valenzuela is very independent and thorough.

Key clients

The Bank of Nova Scotia

Scotiabank Chile

Sumitomo Mitsui Banking Corporation


BNP Paribas

Work highlights

  • Advised the investors and lender (Sumitomo Mitsui Banking Corporation) on the issuance by Innergex, through Aela Generación, of $710m of green notes and a a $93.1m letter-of-credit facility.
  • Acted for Scotiabank Chile, Banco de Crédito e Inversiones, Banco Internacional and BTG Pactual (as lenders) on the financing to DB Terra Chile Holdco (to partially finance the acquisition of Mundo Pacífico).
  • Advised the sponsors (Ibereólica Renovables and Repsol) on the financing of an approximately 165.3MW wind farm.

Alvarez Abogados

Further to Bofill, Mir & Álvarez Jana (BMAJ)’s dissolution in March 2022, Alvarez Abogados was launched by former BMAJ corporate, banking and finance practice co-head Alejandro Álvarez, who is supported by experienced banking and finance partner José Antonio Velasco. The wider group advises financial institutions and private companies on structured financing, restructuring, refinancing, project finance, and syndicated and commercial loans. Former senior associates Manuel Sánchez, a specialist in company and project financing, and Joaquín Recart, whose broad practice includes financing work, were both made partners in September 2022.

CMS Carey & Allende

The six-strong group at CMS Carey & Allende advises creditors, investors and borrowers on bilateral and syndicated loan agreements, along with project financings involving energy and infrastructure. It also assists with financings for the acquisition of companies and assets, as well as debt restructuring, international expansion financings and capital markets deals. Practice head Fernando De Cárcer is a securities and corporate governance specialist, while the practice of senior associate Enrique Vergara incorporates syndicated loans, project financing, debt restructuring, credit transfers, and corporate bonds. Dual-qualified in both New York and Chile, Jorge Allende Destuet is working as a visiting partner at Simpson Thacher & Bartlett LLP since August 2022.

Practice head(s):

Fernando de Carcer

Key clients



Sun International


Nevasa Administradora General de Fondos

AKA Bank

Nueva Inversiones Pacífico Sur


Banco Aliado

Verano Energy

OnNET Fibra


Work highlights

  • Advised OnNet on a financing transaction related to the acquisition of the existing fibre optic network of Entel Chile.
  • Advised Verano Capital on a credit line that was granted by a syndicate of Chilean bank institutions for a renewable energy project.
  • Advised Infraco on a financing transaction that allowed it to finance operational costs and allocate future resources to its activities.


The sizeable banking and finance practice at Cuatrecasas‘ Santiago office routinely acts for debtors as well as issuers, guarantors, commercial and development banks, and debt and private equity funds. The team, which ‘handles local and international banking issues very well‘, assists with an array of financings – particularly project finance, banking regulatory issues, and restructurings and refinancings. The group is co-led by Macarena Ravinet, an expert in project financing, financial transactions and capital markets, and banking and finance expert Roberto Guerrero V. Fellow finance partner Alfonso Ugarte divides his time between the firm’s New York and Santiago offices; while principal associate Federico Espinosa, who focuses on banking and finance matters, is a March 2022 hire from Garrigues Chile.

Practice head(s):

Macarena Ravinet; Roberto Guerrero V


The team handles local and international banking issues very well, especially NY law matters.’

Great legal services in the field of corporate finance, including M&A, restructuring and debt issuances.

Vast experience and detailed advice according to specific situations.

Macarena Ravinet handles issues with a lot of experience and capacity, and resolves problems to facilitate transactions.

Key clients

Costa Verde Aeronáutica

Compañia General de Electricidad

Empresas CMPC

Interconexión Eléctrica


Lota Protein

Atrys Health


Softys Brasil

BTG Pactual

Banco de Crédito e Inversiones

Penta Seguros de Vida

Banco Santander

VFS Chile

Citicorp International


Banco Inversis


Andean Tower Chile

Itaú Corpbanca

Work highlights

  • Advised Costa Verde Aeronáutica (as one of the lenders) on the $3.7bn debtor-in-possession financing granted to LATAM Airlines as part of its exit from a Chapter XI process.
  • Advised Inversiones CMPC on the granting of a sustainable syndicated credit facility.
  • Advised CAP on restructuring the $290m intercompany debt that its subsidiary Compañía Siderúrgica Huachipato incurred with CAP.

DLA Piper Chile

DLA Piper Chile's team is widely respected for its energy-sector expertise, particularly regarding photovoltaic solar projects. Clients notably benefit from the Santiago office’s ability to leverage the firm’s global network, which facilitates interaction with other jurisdictions during financings. It additionally caters to non-traditional financial needs, such as fintech matters, investment and personal finance, P2P lending, and cryptocurrencies. The team is led by Mauricio Halpern, who routinely advises banks, multilateral financial institutions and syndicated club banks, while Matías Zegers is an investment funds expert. At associate level, Eduardo Araya and Natalia Cox are both active in finance work.

Practice head(s):

Mauricio Halpern; Matías Zegers


Very knowledgeable about the local industry, they work in an integrated manner with the in-house legal teams. They have participated in several relevant transactions in the field of non-conventional renewable energy in recent years, both in the field of M&A and financing, which gives them a good knowledge of the sector and the applicable standards.

Mauricio Halpern, knowledgeable about transactions of this type, especially in matters related to local documents. He coordinates internally with the firm’s international partners involved in the matter. Natalia Cox, very fast, precise and efficient. She responds to the requirements in a timely manner.

Key clients

JPMorgan Chase Bank

Goldman Sachs

Innergex Renewable Energy

CarbonFree Technologies.

Sumitomo Mitsui Banking Corporation


Work highlights

  • Advised JPMorgan Chase Bank and Goldman Sachs Lending Partners (among others) on a financing granted to LATAM Airlines Group, which allowed it to emerge from Chapter Eleven reorganisation proceedings and continue its operations.
  • Advised Innergex Renewable Energy, as borrower, on the structuring and execution of its $803m refinancing transaction.
  • Advised CarbonFree Technology on the green bond debt financing facilities and bridge loan for its portfolio of utility-scale solar projects in Chile.

HD Legal

Known as Honorato | Delaveau until its 2023 rebrand, HD Legal‘s practice regularly handles significant M&A-related financings, as well as restructuring, bankruptcy and liquidation work. The fintech and finance department is led by project finance specialist Matías LangevinSebastián Delpiano is a structured and asset finance expert; and key support at name-partner level is provided by José Luis Honorato and Gonzalo Delaveau. Among the associates, Antonia Vial advises on real estate project financing, while senior Ignacio Araya Paredes, who assists with fintech work, is a September 2022 recruit from Banco Central de Chile. Former partner Felipe Divin left in August 2022 to establish his own firm.

Practice head(s):

Matías Langevin

MBC Abogados

Predominantly acting on the borrower side, MBC Abogados' 13-member group stands out for its handling of real estate sector-related project financings. The practice’s scope covers credit facility agreements, refinancings and bond issuances. The department, which is jointly led by real restate finance specialists Benjamín Salas and Carolina Menichetti, has expanded its client portfolio to include companies from the retail, healthcare, investment funds, hospitality, and food and beverage sectors. Within the senior associate pool, Sybil O’Reilly is an additional real estate financing lawyer of note, while Guillermo Bobenrieth's finance practice includes venture capital financing.

Practice head(s):

Carolina Menichetti; Benjamín Salas

Key clients

Grupo Patio

Desarrollos y Bodegas I

LV Patio Renta Inmobiliaria Puerto Montt

LV Patio Renta Inmobiliaria III

Rentas Patio I

Patio Comercial

Inversiones Santa Teresita

Patio Self Storage

Inversiones Discovery


Fondo de Inversión Credicorp Capital Patio Renta Industrial I

Work highlights

  • Advised LV Patio Renta Inmobiliaria III on a refinancing transaction involving lease agreements.
  • Advised PANAL on the negotiation with Banco Security of the refinancing of an existing credit facility.
  • Advised Rentas Patio I and Inmobiliaria e Inversiones Discovery on the renewal of a credit facility agreement.

Prieto Abogados

Well-known for its borrower-side credentials, Prieto Abogados' banking and finance team is also mandated by major lenders for significant financing transactions. The department is notably active in deals involving the energy and mining sectors, including project financing, corporate loans and acquisition financings. The group is co-led by project finance and tax specialist Mario Gorziglia (‘strong negotiation skills'); and Isabel Monge, who was promoted to counsel in 2022, has extensive financing experience and is ‘always concerned with details'. Also key to the group are finance lawyer Isabel Wolleter E, a partner since 2022; and ‘very clear' senior associate Aníbal Larrain, who advises on syndicated loans, project financings, revolving facility agreements and international debt placements.

Practice head(s):

Mario Gorziglia; Isabel Monge


I’d highlight their technical ability – a very complete team with a lot of legal knowledge.

Always available to answer questions – studious and well-coordinated with each other.

The recently-inaugurated new offices are without a doubt a great success – modern, with open spaces and many well-equipped meeting rooms to receive clients.

We like working with Prieto because Mario Gorziglia and Isabel Monge are always involved in the work. Clients have a close relationship with them and this sets it apart from other law firms.

Mario Gorziglia is very good – he has strong negotiation skills and he is always available for clients’ needs.

Isabel Monge has been essential for clients – she has technical knowledge, and is always concerned with details and client service.

Senior associate Aníbal Larrain is very clear – he explains complex issues well and his support has been great.

Key clients

Banco de Crédito e Inversiones

BNP Paribas

Export Finance Australia

ING Capital



Société Générale

Rockville Energy Holdings

Engie Energía Chile

Transmisora Eléctrica del Norte


Disal Holding (now Ambipar Enviroment)



Banco Security


Automotores Gildemeister

Sociedad Concesionaria Vespucio Norte Express

Work highlights

  • Advised two Chilean insurance companies (part of a consortium of lenders) on negotiations with Sociedad Concesionaria Nueva Pudahuel (as borrower), Credit Agricole Corporate and Investment Bank (global administrative agent) and Banco Santander (Chilean collateral agent) for the restructuring of the 2016 $580m project financing for the expansion of Santiago’s airport.
  • Advised Codelco on the negotiation of a $500m loan agreement with Export Development Canada.
  • Advised Rockville Energy Holdings on the negotiation of a $100m project financing with Natixis to fund the acquisition and construction of a 150MW portfolio of photovoltaic projects.

Ried Fabres

Excellent for banking and financing matters', the 11-member team at Ried Fabres comprises specialists in loan and project finance deals, international and local bonds, regulatory work, and derivatives trading. The group is co-directed by Cristián Fabres, who advises on securitisations that are organised through both funds and special purpose vehicles; and former Santiago Stock Exchange in-house counsel, José Miguel Ried. Providing additional support, Ricardo Abogabir leads the firm’s derivatives work, while fellow banking and finance lawyer Jaime Hirschberg was made up to partner in early 2022. Also active in finance transactions, Ariadna Beroiz is the associate to note.

Practice head(s):

Cristián Fabres; José Miguel Ried


Agile response capabilities from available and trustworthy lawyers.

The Ried Fabres team is very competent – excellent for banking and financing matters.

A team that is always available and delivers the work on time.

Key clients

BCI Group

BICE Group

Itaú Corpbanca

BTG Pactual

Zurich Group

Deutsche Bank

Banco Santander

Credicorp Capital

Larraín Vial

Taurus Administradora General de Fondos

Ameris Capital


Falcom Capital


Volcom Capital Administradora General de Fondos

Caja La Araucana

Invinsa Administradora de Fondos

Work highlights

  • Advised Ameris Capital on the organisation of a trust in Mexico, which will issue notes to finance several companies in Mexico through the purchase of invoices (factoring) and other debt instruments.
  • Currently advising Banco Santander on the structuring of a new secured lending financial product.
  • Advised BCI Asset Management on a financing granted by Fondo de Inversión Bci Oportunidades Deuda to Hipotecaria La Construcción (through the purchase of mortgage-backed loans and real estate leasings).

Urenda, Rencoret, Orrego y Dörr

A member firm of both Multilaw and World Law Group, Urenda, Rencoret, Orrego y Dörr's nine-member banking and finance team has strong project finance credentials, particularly in relation to mining and energy projects. The team is also noted for its experience in debt transactions, derivatives, structured finance, and regulatory work. The practice is jointly led by infrastructure project finance expert Felipe Rencoret Portales, and Nicholas Mocarquer, who is notably active in the mining sector. Fellow partner Sergio Orrego also has longstanding banking and finance experience, while former senior associate Rafael Rencoret was raised to the partnership in January 2023.

Practice head(s):

Felipe Rencoret Portales; Nicholas Mocarquer

Key clients


Minera Escondida

Minera Spence

Yamana Gold

Royal Gold

GE Capital Aviation Services

Grupo Marina

The Bank of New York Mellon



Fiberhome Communication Technology

Echeverría, Izquierdo

Work highlights

  • Advised Minera Escondida on an amended and restated $550m syndicated loan agreement.
  • Advised Minera Escondida on a $300m two-tranche syndicated loan agreement.
  • Advised Banco de Chile, Scotiabank Chile, Banco de Crédito e Inversiones, Itaú Corpbanca, Banco Estado and Nexus on the sale of all the shares of Nexus to Indra, which included Chilean regulatory matters involving the Chilean Banking Authority.

Baraona Marshall & Cía

With ‘extensive and diverse legal knowledge', Baraona Marshall & Cía's eight-strong group covers both the structuring and restructuring of finance facilities. The team is also active in the development of regulations on banking, derivatives, capital markets, and governmental and corporate financing. The department is led by finance and tax specialist Raúl Marshall (a ‘great lawyer'), while the workload of fellow founding partner Juan Pablo Baraona encompasses capital markets, structured finance and restructuring deals. The second line of advisers includes projects expert Rodolfo Vega, along with active senior associates Trinidad Saenz and Juan José Grez.

Practice head(s):

Raúl Marshall


A team of lawyers with extensive and diverse legal knowledge, who demonstrate optimum dedication and agility when working.

Always with the best disposition and available practically 24 hours to answer questions and requests. In addition, the team is comparatively very competitive in terms of fees.

Raúl Marshall is a great lawyer and leader of legal teams – always available and with very good legal criteria, which makes his advice reliable and remarkable among his peers.

Key clients

TMF Group

Itaú Corpbanca

Banco de Crédito e Inversiones

Banco Security

Banco Itaú Argentina

Astaldi Concessioni (Chile Branch)

Scotiabank Chile

Inmobiliaria Oriente

Banco Santander

Consorcio Iberoasiático

Itaú Unibanco


Banco Bice


Gestión Solar

Grupo Sable

Safecard Technologies

Work highlights

  • Advised Banco Security on the negotiation and drafting of a structured financing agreement with Inmobiliaria ANYA, which concerned the purchase of a real estate asset for $35m.
  • Advised Itaú Corpbanca on a structured financing agreement with Ñuñoa Capital for the purchase of a real estate asset for $22m.
  • Advised Scotiabank Chile and Banco de Crédito e Inversiones on a structured financing agreement with Inmobiliaria La Pirámide for the purchase of a real estate asset for $35m.

Dentons Chile

The Santiago outpost of the global firm, Dentons Chile fields a team that acts for financial institutions (including multilateral organisations) on financings for Chilean companies. It is also regularly involved in corporate and project financings, restructurings, and reschedulings involving the energy, mining, agriculture and financial services sectors. The practice is led by seasoned finance lawyer Felipe Rencoret Prieto, while Luis Izquierdo (a partner since December 2021), also advises on an array of financing deals.

Practice head(s):

Felipe Rencoret Prieto


Felipe Rencoret has very specific knowledge and experience in banking and finance, which is not common in the Chilean market.’

Felipe Rencoret has worked together with the authorities in the creation of the regulation, so he not only knows the text but also the reason why it was issued and the history of its creation.

Key clients

Banco de Crédito de Inversiones

Inter-American Investment Corporation (BID Invest)

Banco Santander Chile

Banco BTG Pactual Chile

Credit Agricole CIB

Itau Corpbanca

International Finance Corporation

Banco Falabella


Tanner Servicios Financiero

Work highlights

  • Advised Banco de Credito e Inversiones on a credit facility agreement for GMHoldings, which concerned the issue of banking on-demand bonds.
  • Assisted Banco de Credito e Inversiones (Miami branch) with an unsecured senior credit agreement for Ultranav Denmark.
  • Assisted BID-Invest with the corporate financing of Primus Capital.

Fischer y Cía

Spinning out of Baraona Fischer & Cía in early 2021, Fischer y Cía's 11-strong banking and finance department advises on the financing of business and asset acquisition operations, such as mergers, divisions and reorganisations. The ‘very good' team is particularly active in relation to corporate financings, debt restructurings and financial guarantees. Banking, project finance, securities and insurance specialist Gerardo Cruzat heads the firm’s transactions practice, while the broad practice of managing partner Cristóbal Herrera covers financing, derivatives and capital markets.

Practice head(s):

Cristóbal Herrera; Gerardo Cruzat


A very good team that knows what clients and counterparties need.

Solid knowledge and experience.

Key clients

CMA Clínica Costanera


Work highlights

  • Advised CMA Clínica Costanera on a syndicated loan to finance the construction of a private hospital.

Fontaine & Cía

The five-member group at Fontaine & Cía is particularly active in real estate project financings, syndicated loans, and the restructuring of liabilities. It also advises on alternative means of raising capital. The finance and capital markets team is led by Juan Eduardo Troncoso, whose practice covers real estate and project finance work, while associate Sebastián Garrido also has an active finance practice.

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 (LarrainVial)

Work highlights

  • Advised Principal Compañía de Seguros de Vida Chile on a financing operation structured through a leaseback.
  • Advised Metlife Chile Seguros de Vida on a financing deal that comprised an endorsable mortgage loan.
  • Advised Principal Compañía de Seguros de Vida Chile on a financing that was structured through a leaseback.

Jara Del Favero Abogados

Jara Del Favero Abogados' team is active in corporate finance and structuring transactions, both at domestic and international levels. The department’s key figures are Felipe Ovalle, whose practice covers corporate finance, structuring work, and infrastructure and concessions; Sven Herlin, who assists with the raising of financing for real estate projects and technology companies; Alvaro Caviedes, a specialist in bond offerings; and Christian Schiessler, who was raised to the partnership in July 2022 and focuses on both banking and finance and capital markets work.

Practice head(s):

Felipe Ovalle; Sven Herlin; Alvaro Caviedes; Christian Schiessler

Key clients

Minera Los Pelambres

Minera Antucoya

Compañía Minera Zaldivar


The Palpa Company

Forum Servicios Financieros

Minera Centinela

Work highlights

  • Advised Forum Servicios Financieros (as borrower) on the negotiation of a syndicated loan agreement with Banco Latinoamericano de Comercio Exterior.
  • Advised Minera Antucoya on additional $250m financing, which was granted by MUFG Bank, Sumitomo Mitsui Banking Corporation and The Bank of Nova Scotia.
  • Advised Minera Antucoya on a $180m loan agreement, which was granted by Banco Santander, MUFG Bank, Natixis (New York branch) and Sumitomo Mitsui Banking Corporation.