Banking and finance in Chile

Barros & Errázuriz

Serving both lenders and borrowers, Barros & Errázuriz fields one of the largest, most specialised banking and finance teams in Chile. With several partners practicing in the area and 20-plus lawyers with experience in financing, the practice is a market leader for energy and infrastructure project finance transactions; clients also benefit from the firm’s significant real estate, energy, environmental and regulatory groups. The firm is part of the Affinitas network, which facilitates exchanges of ideas on regional banking and finance and capital markets developments. Francisco De la Barra particularly stands out for project financing, Nicolás Balmaceda is an energy and infrastructure finance specialist, and Bernardo Simian plays a key role on local and international acquisition and corporate financings. The firm's strong second line includes cross-border expert Enrique Barros V and Vicente Cordero, who regularly acts on  international matters; both made partner in July 2020; and corporate and project finance specialist, senior associate María Olga Rivera.

Key clients

Ameris Capital Administradora General de Fondos

Vías Chile

Linzor Capital Partners

Banco Bilbao Vizcaya Argentaria

Banco Santander

Sociedad Concesionaria Autopista del Sol

Fortress Investment Group

Sumitomo Mitsui Banking Corporation (SMBC)

Inmobiliaria Golden Cross

China Construction Bank

Latin Gaming

Volta

Work highlights

  • Advised Fortress Investment Group on the granting of guarantees under Chilean law for credit granted to Astaldi (overseas).
  • Acted for Sociedad Concesionaria Autopista del Sol on the structuring and negotiation of a non-revolving line of credit, which was for the construction of highway lanes.
  • Advised Banco Bilbao Vizcaya Argentaria and Banco Santander on the senior financing by Digital Data Centre Bidco for the acquisition of shares in Data Holdings Future, Data Holdings’ subsidiaries (indirectly) and Digital DC Brasil.
  • Advised Linzor Capital Partners, through its fund Linzor Partners III, on the financing for the acquisition  of all shares issued by Pacífico Cable, a telecoms business development company.
  • Advised Volta on a refinancing for Ecoser, as well as additional financings for Ecobío  and Volta Inversiones I.

Carey

Full-service market-mainstay, Carey, has extensive experience advising creditors, investors and borrowers on all types of banking and financial transactions. Representative experience includes assisting with syndicated loans, liability management and project financing. The practice has also participated in a series of initiatives to update Chile's laws and regulations. The banking and finance department heads are project finance and derivatives specialist Francisco UgarteDiego Peralta (noted for the structuring of financial products and financing of businesses); Felipe Moro, who is recommended for lending transactions, project financing, structured products and derivatives; and Salvador Valdés, who acts for several high-profile international and domestic banks and infrastructure funds on the financing of infrastructure projects in Chile. A strong associate line includes Fernando Noriega and Alejandra Daroch.  

Testimonials

A very good group of lawyers that is competent and with very good knowledge of the topics clients deal with. They are one of the two most used law firms by our institution in Chile.’

They handle international issues as well as local law issues. They have a lot of experience with other international institutions, which benefits us.’

In addition to Carey’s excellence and efficiency in the banking sector, its cross-sector knowledge and expertise, including during public offer procedures, was extremely helpful, and they managed to resolve many difficult issues during a complex deal.’

Felipe Moro is very knowledgable and experienced, and provides timely, value-added, sharp legal advice and solutions.’

Key clients

Export Development Canada

Banco del Estado de Chile

Wells Fargo

Banco de Crédito e Inversiones

KfW Ipex Bank

Itaú Corpbanca

DnB Bank

Asociación de Bancos e Instituciones Financieras

The Bank of Nova Scotia

TSGF

Work highlights

  • Acted for Export Development Canada on the extension of a 10-year, $300m loan to Codelco.
  • Advised The Bank of Nova Scotia on a $800m credit facility with Lundin Mining Corporation.
  • Advised Teck Resources on a $2.5bn loan agreement to finance Quebrada Blanca Phase 2, one of the country’s largest copper extraction projects.
  • Advised TSGF, owned by Total and SunPower Corporation, on a $212m facility for a solar photovoltaic project.
  • Assisted Wells Fargo Bank, as administrative agent, with local matters surrounding a guarantee provided by Worley Chile to secure the obligations of its parent company, WorleyParsons.

Claro & Cia.

One of the oldest, most prestigious law firms in Chile, Claro & Cia.'s banking and finance group comprises 29 lawyers, including seven partners. It is well known for the design and structure of sophisticated financial products and innovative banking transactions, which have become standard in the Chilean banking and financial markets. The firm has several highly respected partners, including Rodrigo Ochagavía, who is experienced in regulated sectors such as energy, mining, pension funds, banking and insurance; and Jorge Martín, who is recommended for international infrastructure and transportation project financing. Other key partners include project finance specialist José María Eyzaguirre B and Cristóbal Eyzaguirre, who has a broad banking and finance practice, along with project finance specialists José Luis Ambrosy and Ariel Mihovilovic. At counsel level, Jaime Salas focuses on energy and project finance.

Testimonials

Highly professional, and experts in financing and energy issues.’

The best team in the Chilean market for sure! Claro has the best associates and partners and gives full commitment.’

Recommended for their high degree of commitment, knowledge of issues and for having specialists in all subjects within the team.’

Great for their willingness and commitment to deliver quality work, as well as their deep knowledge of subjects and consistent attempts to find applicable solutions.’

Personalised attention – they are available all the time.’

Great for availability and the reliability of a job well done.’

Superb partners, with exceptional negotiation skills and knowledge of the market.’

Key clients

AES Gener

Mercedes Benz

Latam Airlines

Intervial

Citigroup Global Markets

Sonnedix

Toesca

Compañía Sud Americana de Vapores

Agrosuper

Actis

Work highlights

  • Advised The Bank of Tokyo-Mitsubishi, Export Development Canada, KfW IPElX-Bank and Sumitomo Mitsui Banking Corporation on the financing of four trunk electricity transmission projects.
  • Advised Agrosuper on the negotiation, drafting and execution of eight separate loan credit facilities.
  • Advised Sonnedix on the financing of the Atacama Solar Project.
  • Assisted Compañía Sud Americana de Vapores with a $100m credit facility that was granted by Banco Consorcio and Compañía de Seguros de Vida Consorcio.
  • Assisted Toesca Administradora General de Fondos with a $108m bridge credit facility with Banco de Crédito e Inversiones for the acquisition of two real estate assets, which were owned by Inmobiliaria Apoquindo.

Morales & Besa

Morales & Besa fields one of the most specialized banking and finance teams in the Chilean legal market. The group is vastly experienced in restructuring, syndicated loans, structured finance, derivatives, distressed debt, and acquisition financing. It also regularly acts for developers, sponsors, lenders, multilateral institutions, guarantors, and engineering, procurement, and construction (EPC) contractors on project finance. In addition, the team is recognized for its non-transactional work, namely in banking and financial regulations, licensing and compliance. José Miguel Carvajal has over two decades' experience in finance transactions; and Myriam Barahona focuses on banking and financial matters and project finance, both at national and foreign levels. Founding partner Guillermo Morales is also a key contact. Former partner Matías Langevin left for Honorato | Delaveau in 2019.

Testimonials

Excellent execution and speed, and they support all of a client’s requirements.’

We like its very good command of the subjects consulted on and permanent disposition of a truly multi-disciplinary team, 24/7.’

The speed of delivery of the requested documents and the internal co-ordination of each team are great.’

They provide timely advice with solid knowledge.’

We like them for their experience and specialty areas, in addition to their creative responses to new requests.’

Key clients

Banco de Crédito e Inversiones

Banco Security

DNB Bank

Sumitomo Mitsui Banking Corporation

Banco BICE

Banco Santander-Chile

Itaú Corpbanca

Intervial Chile (ISA Group)

Accel KKR

Work highlights

  • Assisted Itaú Corpbanca, Banco Internacional, Banco de Crédito e Inversiones and Banco de Crédito del Perú with the restructuring of the syndicated debt of Compañía Papelera del Pacífico.
  • Advised Banco Santander-Chile on a financing granted to the concessionaire of Concesión Autopista Santiago-San Antonio Ruta 78, for additional works agreed with the Ministry of Public Works.
  • Acted for Banco BICE on the VAT-related financing granted to Inversiones Arco 3, in relation to the construction of several solar plants.
  • Advised Sumitomo Mitsui Banking Corporation (as senior lender), Banco Santander-Chile (as VAT lender) and Siemens (as mezzanine lender) on the financing of the Cabo Leones III wind project.
  • Advised Accel KKR Group on the financing for the acquisition of a majority stake in a Chilean legal technology company.

Philippi Prietocarrizosa Ferrero DU & Uría

Philippi Prietocarrizosa Ferrero DU & Uría's banking and finance department is consistently involved in Chile's most significant deals. Acting for foreign and local banks and financial institutions, as well as borrowers and sponsors, the team is highly rated for its experience in energy, mining and infrastructure project finance, syndicated financing and aircraft finance. The team includes several experienced partners, namely firm co-chair Marcelo Armas, who regularly advises on complex financings involving several jurisdictions, and Andrés Sanfuentes, an expert in banking, financial and infrastructure projects. Recently appointed partner Marcela Silva's experience includes the financing of mining, infrastructure and energy projects and desalination plants. Notable associates include Daniel Parodi, whose practice includes aircraft and maritime finance. Former principal associate of the finance practice group, Daniel Barros left for Barriga, Morgado & Cia Attorneys at Law .

Practice head(s):

Marcelo Armas; Marcela Silva

Testimonials

Very good knowledge of the banking market and high availability to talk about topics.

Very good knowledge of the energy sector and contacts in different public bodies, which makes enquiries effective.

There are other prominent firms in the sector but PPU is our reference practice.

We are very happy with the work of partner Marcela Silva and her team.

Key clients

Crédit Agricole Corporate and Investment Bank

HSBC

KfW Ipex-Bank

Japan Bank for International Cooperation

Sumitomo Mitsui Banking Corporation

Export Development Canada

Mizuho Bank

The Bank of Nova Scotia

Natixis (New York)

The Korea Development Bank

Banco Santander-Chile

Banco de Sabadell (Miami)

DNB Bank

JP Morgan Securities

Bank of China

Société Générale

Banco del Estado de Chile

CaixaBank

MUFG Bank

Grenergy Renovables

Work highlights

  • Advsied the lenders, including Bank of China, Export Development Canada, Mizuho Bank and The Bank of Nova Scotia (among others), on a $875m loan agreement with borrower, Minera Los Pelambres.
  • Advised the lenders on the financing of the development of the Quebrada Blanca 2 hypogene project.
  • Acted for KfW IPEX-Bank and CaixaBank on the financing of three wind farms.
  • Advised the lenders on a $580m loan for the financing of a non-conventional renewable energy portfolio, comprising three wind farms and a solar power plant.
  • Assisted Ibereólica Cabo Leones III, as borrower, with an approximately $93m loan agreement, which was entered into with Sumitomo Mitsui Banking Corporation for the construction and operation of a wind power plant.

Baker McKenzie Chile

Consistently acting for banks and borrowers on corporate loans, debt restructurings and project finance, Baker McKenzie Chile's experienced and multidisciplinary nine-strong practice group is co-led by León Larrain and Jaime Munro, who both have over 20 years' experience in transactional matters. The team is also expert in acquisition finance, as well as the regulatory issues surrounding e-money, charge and credit cards, and other financial products. The experienced Sebastian Vivanco is the group's third partner.

Practice head(s):

León Larraín; Jaime Munro

Key clients

Grupo Security

Mantos Copper

Banco Santander-Chile

Société Générale Corporate and Investment Banking

China Development Bank

General Motors Financial

Rivulis Plastro Riego

Parronales Tinamou

Natura Cosmeticos

Credicorp Capital Assets

Exportadora Subsole

Parronales Tinamou

Inversiones Quinchamali

Adyen

KGHM International

Mizuho Bank

Cencosud

Wells Fargo Bank

Securitizadora Security

Work highlights

  • Advised China Development Bank on a $20m cross-border term facility granted to Chile’s Banco Security.
  • Assisted Société Générale with a $28m cross-border loan, which was granted to a bus operator.
  • Advised Mantos Copper, as borrower, on a $250m financing, which was granted through an array of collaterals and agreements with Glencore, Anglo-Pacific, Osisko Gold Royalties and Mantos Copper’s main shareholder, Orion Mine Finance.

Bofill, Mir & Álvarez Jana

Bofill, Mir & Álvarez Jana's five-partner banking and finance team is particularly focused on advising on structured and syndicated financing arrangements on behalf of institutional investors, including insurance companies and public and private investment funds. The team also frequently assists clients within the automotive and leisure industries. Ana María Yuri's recent work includes the financing of a key transportation infrastructure project, while José Antonio Velasco advised an agriculture industry client on  a loan for the repayment of existing debt and general corporate purposes. Also key to the group are name partner Octavio Bofill, who is recommended for major banking and finance deals; Alejandro Álvarez, whose  broad corporate practice includes corporate finance; and Rodrigo Saffirio, whose experience includes syndicated loans. The second line comprises senior associates Manuel Sánchez, Andrea AlarcónJoaquín Recart  and Francisco Palma.

Testimonials

Great agility to respond to requirements and very rigorous in the analysis of alternatives. The team also has great negotiating skills.’

A team with a lot of experience in banking matters, with technical knowledge and very good negotiating capacity on behalf of its clients. The lawyers are very good and pay attention to their clients.’

We like their analytical skills, legal technical knowledge and understanding of business issues. They are also highly experienced, which improves recommendations and avoids future problems.’

Key clients

Kinza Buenaventura

Promet Chile

Bice Vida

EuroAmérica

Lundin Mining

Sprott Resource Holdings

BK

Neorentas

Nueva Costanera

Empresas Agropacal

Work highlights

  • Advised Bice Vida Compañía de Seguros and Compañía de Seguros de Vida Consorcio Nacional de Seguros, as creditors, on a syndicated financing of approximately $90m for the construction of an underground dual carriageway in Santiago.
  • Advised Lundin Mining Corporation on the execution of an amended and restated credit agreement for $800m.
  • Acted for EuroAmérica Servicios Financieros on a financing for Nexus Chile.

Cariola Díez Pérez-Cotapos

Cariola Díez Pérez-Cotapos' 12-strong banking and finance department is particularly active in structuring financial transactions, predominantly cross-border loans (with or without a security package). Other notable areas are mining, energy and infrastructure project finance; M&A acquisition finance; complex restructurings; specialized financings for agriculture producers; derivatives; and trade finance. The practice is also highly regarded for regulatory matters. Rodrigo Sepúlveda regularly advises multinational consortiums and local and international banks on the project financing for generation and distribution power projects. The other partners to note are Francisco Illanes, who is well known for complex financing deals, and Juan Antonio Parodi, who is experienced in finance structures, guarantees and credit documents.

Testimonials

In-depth knowledge of transactions and customer perspective.’

The big difference is the personalised attention of its partners.’

Rated for the dedication and motivation of Rodrigo Sepúlveda, who is extremely rigorous, conciliatory, organised and always compliant.’

Rodrigo Sepúlveda is always at the front of a transaction, with very high levels of personal dedication. He maintains excellent personal relationships as well as empathy during difficult times.’

Key clients

Rabobank

Empresa de los Ferrocarriles del Estado

DnB Bank

Grupo Esmax

Empresa de Transporte de Pasajeros Metro

Southern Cross Group

Banco de Crédito e Inversiones

Scotiabank Chile

Banco BICE

Itaú Corpbanca

Banco de Crédito del Perú (BCP)

Banco Santander (Chile)

Principal Financial Group

Automotores Gildemeister

Work highlights

  • Advised Banco de Crédito e Inversiones, Itaú Corpbanca and Itaú Unibanco (Nassau) on the restructuring of credit facilities granted to Puerto Central, the concessionaire, developer and operator of Chilean port, Puerto Central.
  • Advised Esmax Distribución on the restructuring of a credit facility, which was granted by Scotiabank Chile and Banco BICE (among others) for the acquisition of Grupo Petrobras Chile.
  • Advised Australis Mar (as borrower) and Food Investment (as guarantor) on a term and revolving facilities agreement for up to $160m, which was granted by Bank of China (Macau).

Guerrero Olivos

Guerrero Olivos' 24-strong department, including eight partners, is highly rated for its expertise in structured corporate loans, acquisition and project finance, restructurings, refinancing and regulatory advice. The practice fields several impressive partners: Jorge Delpiano, a banking and capital markets specialist; Roberto Guerrero V, who has over 20 years' banking and finance expertise; Juan Enrique Allard (financial restructurings and acquisition finance); and Pedro Lyon, who assists with the creation of financial structures for investment funds' investments. The second line of partners includes the increasingly prominent Macarena Ravinet, energy project finance specialist Sebastián Abogabir and Miguel Coddou (partner as of January 2020). Other active members include senior associate Benjamín Novoa (who rejoined in 2019 after working at White & Case LLP's Miami office for a year), and associates Felipe Frühling and Diego Rodríguez. However, practice co-head Sebastián Yunge  has left the firm.

Testimonials

A team that has been greatly strengthened since the arrival a few years ago of Miguel Coddou and his participation in deals.’

Miguel Coddou is a very experienced lawyer, who has been on the other side (for the banks) so he understands operations very well.’

Key clients

Natixis

Anglo American Marketing

The Bank of Nova Scotia / Scotiabank

Prudential

Volvo Financial Services

Deutsche Bank

Rabobank Group / Rabobank Chile

China Development Bank

Banco Consorcio

CITIC Bank International

Telefónica

Caja de Compensación de Asignación Familiar de Los Andes

IFCO Systems

Banco del Estado de Chile

AD Retail

Cap Vert Energie

Banco Santander Chile

Banagro

Caja de Compensación de Asignación Familiar La Araucana

Trammo

Work highlights

  • Advised IFCO Systems, the world’s largest supplier of transport packaging for fresh products, on both a $1.4bn facility agreement and $200m second lien facility agreement, which were entered into with several lenders.
  • Advised Natixis (New York Branch) on a $70m international financing that was granted to US energy investor Arroyo Energy Group for the acquisition and construction of solar projects in Chile.
  • Advised TMT company WOM, as borrower, and Kenbourne Invest, as bond issuer, on a $660m international financing.

CMS Carey & Allende

As the local office of a multinational law firm, CMS Carey & Allende's six-strong banking and finance team is fully integrated within the global group of one of the largest law firms in the world. The practice covers project finance, receivables-based credit agreements, syndicated loans, debt restructurings, and the financing of international expansion plans. Finance and restructuring specialist Fernando De Cárcer leads the banking and finance practice, and Jorge Allende D is qualified in both Chile and New York. The group also fields tech and media industry specialist Diego Rodríguez, while Ignacio Errazquin is an experienced senior associate.

Key clients

Sun Dreams

Karün

Empresas AquaChile

Benchmark Genetics Chile

Sun International Chile

Solarpack

Ardian

Agrícola Pacífico Sur

Petra / Celta / Inversiones del Pacífico

Inversiones del Pacífico SpA.

Inversiones FK

Sonda

Broota

Work highlights

  • Advised Solarpack on the financing for the construction and development of photovoltaic project, La Granja.
  • Advised Inversiones FK on obtaining a $15m loan from Banco Santander in order to refinance its current debt.
  • Assisted Inversiones del Pacífico with obtaining a $15m loan from Banco Santander to refinance its current debt.

Garrigues Chile

Garrigues Chile's eight-member banking and finance department is increasingly involved in prominent deals involving project, acquisition and corporate finance, as well as restructuring; and through the firm's significant international reach, it offers a strong platform for Chilean and international clients operating and investing in Chile. The practices of team head Pedro García and Jaime de Larraechea (incorporated from Cruzat, Vicuña, de Larraechea Abogados in 2018) cover corporate loans, project and structured finance, and debt restructuring. Principal associate Antonio Morales has approximately 10 years' banking and financing experience; and associate Francisca Ferrer  is noted for corporate loans and project finance.

Practice head(s):

Pedro García

Testimonials

Its professional experience denotes a cohesive team that provides timely responses to the required needs.’

Key clients

Sumitomo Mitsui Banking Corporation

National Australia Bank

Credit Agricole Corporate and Investment Bank

Banco Santander-Chile

Banco Santander (Spain)

BBVA

Scotiabank Chile

Banco del Estado de Chile

BCI

Mizuho

Citibank

JPMorgan Chase

Bank of America Merrill Lynch

Morgan Stanley

Bradesco

Banco de Crédito del Perú (BCP)

Rabobank

Banco de Chile

International Finance Corporation (IFC)

Itaú Corpbanca

MUFG

Natixis

BNP

Arroyo

Pampa Calichera

Jenner Renewables

Allianz

Intervial

Work highlights

  • Advised GTD Grupo Teleductos, as borrower, on a club deal financing for general corporate purposes.
  • Advised Scotiabank Chile, Itaú Corpbanca, Banco de Chile and Rabobank on a secured refinancing and restructuring of approximately $46m for Ariztía, a large Chilean poultry producer and exporter.
  • Advised Ocean Partners USA on the negotiation of an offtake agreement with Compañía Minera San Gerónimo, which included a revolving credit facility.

Honorato | Delaveau

Honorato | Delaveau grew its banking and finance offering in 2019, through the hire of former Morales & Besa partner Matías Langevin. The seven-member team advises domestic and foreign creditors, investors and debtors on bilateral and syndicated loans, debt restructuring, project finance, and structured products and derivative transactions. The other key individuals are name partners Jose Luis Honorato and Gonzalo Delaveau, and structured and asset-backed financing specialist Sebastián Delpiano. Former senior associate Roberto Olivos moved in-house at Inversiones Tajamar.

Practice head(s):

Matias Langevin; Gonzalo Delaveau

Key clients

Goldman Sachs

BNP Paribas

Banco de Crédito e Inversiones

Energía Llaima

Bank of America

Credit Agricole

BTG Pactual AGF

Banco Santander

Alta Developers

Innergex Renewable Energy

Sartor

Nevasa

Vantrust

Banco de la Nación Argentina

Credit Suisse

Ameris Capital

Buena Vista Capital

FYNSA

Work highlights

  • Advised the lenders and placement agents on the refinancing of the Cochrane power plant.

Larrain y Asociados Abogados

Widely respected for energy and road infrastructure project finance, Larrain y Asociados Abogados' eight-strong team is also active in syndicated loans and acquisition, structured and aircraft finance. Typical clients include banks, brokers and financial institutions, and companies. Project finance specialist Patricio Montes and Jorge Granic, who acts for large mining companies and electricity companies, head the group, which also fields experienced associate Diego Garay.

Practice head(s):

Patricio Montes; Jorge Granic

Testimonials

They certainly have great knowledge of this area, which allows them quickly to understand the problems that arise in businesses, and to look for reasonable alternative solutions. In addition, they spend significant time getting to know the client, so they they can easily detect the level of risk they are willing to take. They also transmit great knowledge and reassurance.’

Key clients

Banco del Estado de Chile

Banco Itaú

Banco Security

Scotiabank

Banco Consorcio

Banco de Chile

Banco Internacional

BCI

Hidroeléctrica San Andrés

TI Mining

Open Casa

Banco Santander-Chile

Reden Solar

Glencore

Banco Estado

Export Development Canada (EDC)

Gamma Cementos

Work highlights

  • Advised Hidroeléctrica San Andrés (the owner of a pass-through power plant) on a financing granted by Banco Santander and BCI to refinance a $40m loan.
  • Advised Banco Consorcio on an approximately $27m facility, which was made available to Sociedad Concesionaria Aeropuerto del Sur to finance the renewal and expansion of El Tepual Airport in Puerto Montt.
  • Advised Banco Internacional on a financing granted to Sociedad de Inversiones Invermed.

Prieto Abogados

Prieto Abogados' 11-strong department has been particularly active recently, advising on the execution of loan agreements, as well as complex restructurings and corporate reorganizations that required extensive negotiations and interactions with both local and foreign banks. Gerardo Cruzat leads the firm's banking and finance practice, and also has extensive experience in corporate law and capital markets. Other significant figures at partner level are capital markets head Patricio Prieto L and Mario Gorziglia, whose broad practice includes finance.

Practice head(s):

Gerardo Cruzat

Testimonials

A very personalised service, with a team of lawyers that is always available and provides quality and agile responses. Absolutely at the level of the best Chile and US firms.’

This a highly efficient team.’

The team that attends to us is highly competitive and highly prepared, which allows them to tackle our requirements with great efficiency. Among its main strengths are its specialisation, a sense of urgency and personalised attention.’

They stand out for their preparation and for understanding of the needs of their clients.

Gerardo Cruzat quickly understands our requirements, executing them with full understanding of the matter – the quality of the work is also very good.

Key clients

Eléctrica Nueva Energía

Transmisora Eléctrica del Norte

Inversiones La Construcción

Engie Energía Chile

Compañía Agropecuaria Copeval

Clínica Bicentenario

Banco Internacional

Codelco

Work highlights

  • Advised Codelco on the the amendment and restatement of a $300m loan agreement entered into with Export Development Canada.
  • Advised Solar E on the negotiation of a loan facility (with Banco de Chile) for its wholly owned subsidiaries, PMGD Mauco, PMGD Santuario and Árbol, which all operate photovoltaic facilities.
  • Advised Copeval on the negotiation of a $28m bridge loan with Consorcio Nacional Compañía de Seguros de Vida, which included the execution of a local loan agreement and promissory notes.

Urenda, Rencoret, Orrego y Dörr

Urenda, Rencoret, Orrego y Dörr's nine-strong banking and finance team is well known for its advice on debt transactions, derivatives, structured finance and regulatory issues. It is also highly active in the financing of mining and energy projects. Nicholas MocarquerRodrigo de Alencar and Felipe Rencoret are all experienced partners. At associate level, Rafael Rencoret provides support on finance deals. Former senior associate Raul Gomez moved in house at Mastercard in 2019.

Testimonials

We were grateful for the timely and sound advice of this law firm.’

The lawyers of this firm stood out for their thorough knowledge of legal and regulatory provisions. They advised in a timely manner, without which the procedure would have taken much longer.’

A very proactive and interdisciplinary work team, which greatly speeds up the collection and analysis of the necessary information in accordance with the information requirements of the bank. Compared to other firms, I was surprised by the speed of the responses and procedures.’

Their responses are quick and timely, and they have good knowledge of the  transactions they work on.’

Key clients

BHP

Banistmo

Minera Escondida

GE Capital Aviation Services

Inmobiliaria Mall Viña del Mar

Sparebanken Møre

Bank of New York Mellon

Royal Gold

Yamana Gold

Minera Spence

Inmobiliaria Punta Piqueros

Work highlights

  • Advised Banistmo on the legal opinion concerning a loan that was granted to Café Britt.
  • Advised Inmobiliaria Mall Viña del Mar (as borrower) on an approximately $204m loan agreement with Banco de Crédito e Inversiones and Scotiabank Chile, which was to finance the acquisition of Mall del Centro de Concepción.
  • Assisted Minera Escondida (as borrower) with a $500m loan with a group of ten lender banks, including MUFG Bank, The Bank of Nova Scotia, Sumitomo Mitsui Banking Corporation, Banco Santander and BBVA, among others.

Baraona Fischer & Cía

Baraona Fischer & Cía fields a team of ten attorneys, who are experienced in project finance. Particular strengths lie in the financing of public works for hospitals, infrastructure and distribution lines, as well as energy generation plants. The group also assists with M&A finance and banking regulations. Raúl Marshall is a specialist in syndicated financing involving high-scale projects.

Practice head(s):

Raúl Marshall

Testimonials

Baraona Fischer’s team, especially Raúl Marshall, is excellent. The ability to provide not only legal services, but also advice and business insight is exceptional, allowing us to make many innovations in the way we do business.’

The main difference with competitors is that the Baraona team focuses not only on finding problems, but on solving them and giving their clients a real account of the risks and options they have when negotiating different financings. We value this knowledge, which is mixed with a mental flexibility when attacking problems.’

Key clients

AD Capital Gestora de Fondos de Inversión

Banco Itaú

Banco Security

Banco Santander Chile

Banco Estado

AFP Habitat

Work highlights

  • Advised Fondo de Inversión Privado AD Capital Tralka Energías Renovables on facility agreements for the acquisition of 18 photovoltaic solar plants.

Coeymans, Edwards, Poblete & Dittborn

The banking and finance department of Coeymans, Edwards, Poblete & Dittborn, headed up by Alejandro Edwards, assists with the financing of real estate projects, M&A and growth assets, among other areas. Name partner Edwards' practice also includes project finance.

Practice head(s):

Alejandro Edwards

Testimonials

It is a very professional, efficient and responsible practice, and compares favourably with teams from other law firms.’

Knowledgeable partners, who are serious and efficient.’

Key clients

Adwisse

Amplo

Spectrum

Canopy Grows

Valhalla Energy

IFB

Soquimich

Aguas Andinas

Agricultural Land

FH USA

Salfa corp

Aconcagua

Natz Investments

Global Pesca

Linio.com

Buscalibre.cl

Enea

Fundación CEC Chile

Genomma Lab

Greensill Capital

Inmobiliaria Frutillar

Naiad

Navimag

Patagon Land

Work highlights

  • Advised Viña Luis Felipe Edwards, a large family-owned wine company in Chile, on the restructuring of its liabilities with Itaú Bank.

DLA Piper Chile

DLA Piper Chile's team is experienced in advising banks, financial institutions and syndicated club banks on structured finance and multilateral transactions, credit agreements, and banking regulatory issues. In project finance, it is particularly experienced in photovoltaic solar projects. The practice co-heads are Matías Zegers and Mauricio Halpern, who was promoted to the partnership in January (having returned to the firm as a counsel in 2017, after a period in-house), who act for both borrowers and lenders; key support comes from associate Vicente Vergara.

Practice head(s):

Matías Zegers; Mauricio Halpern

Key clients

Itaú Corpbanca

Banco BICE

Banco de Crédito del Perú

Colegios Federico Froebel

CarbonFree Technology

Komax

Giddings Fruit

Work highlights

  • Advised Itaú Corpbanca, Banco BICE and Banco de Crédito del Perú on an $80m loan facility granted to three Chilean energy companies.

Fontaine & Cía

Fontaine & Cía's six-member department is particularly noted for real estate and project finance, syndicated loans and the restructuring of liabilities. Its client base includes significant life insurance companies, other institutional investors and several family offices. Founding partner Juan Eduardo Troncoso leads the finance and capital markets practice, which also fields associates Javiera Serani and Sebastián Garrido (recent joiners from Inmobiliaria Aconcagua and Dentons, respectively), and Camila Aranda.

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 financing granted to Sociedad Blue Express, which included a leaseback operation.

Grasty Quintana Majlis & Cia.

Grasty Quintana Majlis & Cia.'s seven-strong team advises on the financing of acquisitions of companies in various Latin America countries, as well as on syndicated and project finance. The firm also assists start-up companies and venture capital firms with investment financing. Firm managing partner Juan Turner's broad practice includes credit facilities and project finance; and Franco Acchiardo's sector experience includes mining, telecoms, oil and gas, real estate and financial services.

Practice head(s):

Juan Turner; Franco Acchiardo

Jara Del Favero Abogados

Jara del Favero & Ried Fabres (the result of a 2018 merger between Jara del Favero Abogados and Ried Fabres), is now known as Jara Del Favero Abogados, following the unwinding of the association and the departure of former name partners Cristián Fabres and José Miguel Ried to re-establish Ried Fabres in 2020. The practice retains extensive experience in advising company clients on finance matters and Felipe Ovalle, in particular, is highly regarded for his assistance with the financing of businesses, M&A, infrastructure and concessions.

Practice head(s):

Felipe Ovalle

Key clients

Minera Los Pelambres

Minera Centinela

Minera Antucoya

Algorta Norte

Minera Caserones

Prcelanite Lamosa

Work highlights

  • Advised Minera Los Pelambres on a high-value loan agreement granted by a pool of international banks in relation to a copper mine infrastructure project.

MB Abogados

Founded in 2010, MB Abogados was originally established to advise clients from the real estate sector, but the firm has expanded its client portfolio to include clients from the retail, healthcare, investment fund, hospitality, and food and beverage sectors. In addition to real estate financing and refinancing, the team assists with project finance, loan agreements and debt issuance. Partners Carolina Menichetti and Ignacio Bolelli, along with recently promoted Benjamín Salas are the primary contacts. Sybil O’Reilly assists at senior associate level.

Key clients

Patio Comercial

Grupo Patio

LV-Patio Renta Inmobiliaria VII

Rentas Patio I

Padre Hurtado Rentas

Inmobiliaria Mirador Azul Uno

Desarrollos Comerciales

Fondo LV-Patio Renta Inmobiliaria I

Patio Foster

Work highlights

  • Acted for Padre Hurtado Rentas, a joint company comprising Maestra Group and Larraín Vial Renta Inmobiliaria Investment Fund, on a mortgage loan that was granted by Compañía de Seguros Confuturo.

Ried Fabres

In early 2020, Ried Fabres unwound its 2018 merger with Jara Del Favero Abogados (the pair has been operating as Jara del Favero & Ried Fabres), returning to its former independent status. The practice is experienced in the establishment of complex finance structures and consistently provides regulatory advice in relation to finance and wealth management products. It also has derivatives regulation experience. Cristián Fabres is a longstanding banking and finance practitioner and José Miguel Reid is a former Santiago Stock Exchange in-house counsel.

Key clients

Deutsche Bank (Chile)

Banco Santander

Credicorp Capital

BCI Group

BTG Pactual

Bice Group

Tanner Group

Larrain Vial

BlackRock

Bloomberg

Itaú Corpbanca

Santander Asset Management

Coagra

Ameris Capital

Forum Servicios Financieros S.A.

Endurance Investments S.A.

Empresa de Transporte de Pasajeros Metro S.A.

Work highlights

  • Advised a number of banks, including Banco Santander, Banco BCI and Banco Internacional, on both the negotiation and renegotiation of International Swaps and Derivatives Association agreements and structuring of new derivatives products.