Firms To Watch: Banking and finance

Formed further to the January 2021 split of Baraona Fischer & Cía, Fischer y Cía quickly hired former Prieto Abogados‘ partner Gerardo Cruzat, whose practice includes banking, finance and capital markets, as its transactions head.

Banking and finance in Chile

Barros & Errázuriz

Fielding one of the largest, most specialised banking and finance teams in Chile, Barros & Errázuriz's practice is able to leverage off the firm’s substantial real estate, energy, environmental and regulatory groups. It is particularly highly rated in the market for energy and infrastructure project finance deals, while the firm's membership of the Affinitas network facilitates exchanges of ideas on regional banking and finance developments with peers in Colombia, Mexico and Peru. The practice co-heads are project and corporate finance specialist Francisco De la Barra, who recently advised the lenders on the financing of two energy projects; Nicolás Balmaceda, whose experience includes port, road and electric transmission project financings; Bernardo Simian (M&A, foreign investment, financing and capital markets); and Enrique Barros (corporate and structured finance), who was raised to the partnership in July 2020. María Olga RiveraFernando CampinoPedro Pablo Cruz and Valentina Villalobos are the senior associates to note.

Practice head(s):

Francisco de la Barra; Bernardo Simian; Nicolás Balmaceda; Enrique Barros

Testimonials

A lot of experience in public investment funds added to the capacities in M&A and corporate law in general. I particularly like working with Luis Alberto Letelier. Full availability, broad criteria, extensive experience. More than technological aspects, the concern for introducing ESG aspects stands out.

Key clients

Pacific Hydro Chile

Linzor Capital Partners

Caja Los Héroes

Banco Security

Administradora D’E Capital

BTG Pactual Chile

Penta Vida Compañía de Seguros de Vida

Fortress Investment Group

Sumitomo Mitsui Banking Corporation

Volta

Geopark

Weg Administradora General de Fondos

Compañía de Petroleos de Chile

Comercial Kaufmann

Banco de Crédito e Inversiones

Interchile

Yukids

Moneda Asset Management

Work highlights

  • Advised Sumitomo Mitsui Banking Corporation and Banco Security (as lenders) on the financing of two energy projects managed by Opdenergy Generación (and its subsidiaries Eólica La Estrella and AustrianSolar Chile Uno).
  • Advised Banco de Crédito e Inversiones on negotiating (with Sociedad Concesionaria Teleférico Bicentenario) a long-term project finance for the construction of a public work named Concesión Teleférico Bicentenario.
  • Advised Pacific Hydro Chile on the refinancing of its existing debt under a syndicated credit agreement that was executed in 2017.

Carey

Comprising 'people with vast banking and financial sector expertise', Carey's sizeable 17-strong practice has extensive experience in advising creditors, investors and borrowers on bilateral and syndicated loans (secured and unsecured), project financing, and operations involving derivatives, among other matters; and in recent highlights assisted Export Development Canada with a $300m loan granted to Codelco. The practice group is co-led by Diego Peralta ('great experience in financial/regulatory matters'); 'trusted resource' Felipe Moro, who focuses primarily on lending deals, project financing, structured products and derivative transactions; Francisco Ugarte (financial product structuring and project finance); and Salvador Valdés, who recently advised Brookfield Asset Management on a credit agreement granted to its affiliate, Brookfield Americas Infrastructure Holdings Chile, by Itaú Corpbanca. Fernando Noriega (banking law, lending transactions and project financing) was made partner in May 2021, while associate Alejandra Daroch's experience includes assisting with the debt restructuring of publicly held company Masisa.

Practice head(s):

Diego Peralta; Salvador Valdés; Francisco Ugarte; Felipe Moro

Testimonials

This team comprises people with vast banking and financial sector expertise.

Trained to give quick answers to highly complex issues, and to make  comprehensive analyses when clients ask them questions that require vision.

Always available when emergencies appear; and each operation that we have carried out – even the daily ones – comprises the necessary dedication and meticulousness.

Clients can consider them a valuable ally and resource, because they create the space – when necessary – to be available to clients.

Felipe Moro, when necessary, will roll up his sleeves to work with clients; he is not only there for the big issues, he also gets involved in the less complex ones that can impact upon companies.

Felipe Moro is a trusted resource.

Diego Peralta has great experience in financial/regulatory matters‘.

Key clients

Export Development Canada

Codelco

State Grid International Development

Enel

Empresas CMPC

BancoEstado

Inversiones Grupo Saesa

Bci

Santander

Brookfield

Work highlights

  • Advised Export Development Canada on a $300m loan granted to Codelco.
  • Advised State Grid International Development on a $150m credit agreement granted by BBVA (Hong Kong Branch) to finance the acquisition of Inversiones Sempra.
  • Advised Codelco on a $165m loan agreement granted by the Bank of Nova Scotia.

Claro & Cia.

The sizeable 29-member team at 'first-class law firmClaro & Cia. has a pre-eminent name in the market for its expertise in designing and structuring complex financial products and innovative banking transactions, including multilateral and cross-border financing, project finance, loans and structured solutions. The team is led by Rodrigo Ochagavía, who has extensive banking and finance experience in regulated sectors such as energy, mining, pension funds, banking institutions and insurance companies; and José María Eyzaguirre B, who also heads the firm's M&A practice. Also integral to the practice are Cristóbal Eyzaguirre, who is consistently sought out by banking and financial institutions (and their boards of directors); Jorge Martín (infrastructure and transportation project finance); José Luis Ambrosy ('stands out for his knowledge and experience'); and energy and project finance specialist Ariel Mihovilovic. An additional line of advisers includes recently elevated partner José María Eyzaguirre F and experienced lawyer Gerardo Otero. Former counsel Jaime Salas moved to Boza & Muirhead Abogados in March 2021.

Practice head(s):

Rodrigo Ochagavía; José María Eyzaguirre B

Testimonials

Claro is a first-class law firm, with first-class lawyers.

As a client I receive a lot of attention from the lead partners on matters, which is highly appreciated!

Rated for its communication skills, experience and problem-solving abilities.

Great experience, speed in responding to requirements, and creativity when solving problems – compares highly favourably with other teams from the same area.

José Luis Ambrosy thinks outside the box.

José Luis Ambrosy stands out for his knowledge and experience.

Jorge Martín is one of the hardest working lawyers I’ve been fortunate enough to work with, and he is deeply knowledgeable about the market.

Jorge Martín has amazing capabilities.

Key clients

Latam Airlines Group

Mercedes Benz

AMP Capital

AES Gener

Citigroup Global Markets

ED&F Man

X-Elio

Compañía Sud Americana de Vapores

Agrosuper

Atlas Renewable Energy

Work highlights

  • Advised LATAM Airlines on a debtor-in-possession loan agreement.
  • Assisted Empresa Eléctrica Cochrane with the refinancing of existing project finance agreements.
  • Advised ED&F Man Group on restructuring and refinancing matters.

Morales & Besa

Morales & Besa's 14-strong banking and finance team 'works with dedication and haste, always considering the interests and urgencies of clients'. It has vast experience in syndicated loans, structured and project finance, derivatives, regulatory matters and acquisition/LBO financing; the group also consistently leads on complex, cross-border financings. The firm additionally houses energy (particularly renewables), utilities, infrastructure, retail, real estate and mining sector specialists, handling financings in all these sectors; and in 2020 it played a leading market role in relation to debt restructuring. The practice co-heads are José Miguel Carvajal ('great ability to understand complex legal problems'), who advises on syndicated local and international loans, project finance and debt restructuring; and with two decades of experience, Myriam Barahona ('probably one of the best lawyers in Chile for banking and finance') who focuses on domestic and international deals, including project finance. Providing support is young associate Bernardo Mora, whose experience includes advising both financial institutions and corporates on financings.

Practice head(s):

José Miguel Carvajal; Myriam Barahona

Testimonials

Proactive lawyers who focus on the objectives required by the client.

Comprehensive attention at every stage to achieve successful closings in a short time.

Complete understanding and command of the topics under discussion.

What makes the M&B practice unique is that all its lawyers work with dedication and haste, always considering the interests and urgencies of clients.

They have detailed knowledge of transactions at all levels.

Very knowledgeable and efficient team under the leadership of exceptional partner Myriam Barahona – efficient delivery and they always offer complete and timely solutions.

The great plus that M&B has on the banking and finance side is its partner Myriam Barahona, who is probably one of the best lawyers in Chile for banking and finance. Her best qualities are the rigorous advice and speed with which she can resolve difficult issues.

Myriam Barahona provides an outstanding level of attention, demonstrating constant concern for clients’ needs; and José Miguel Carvajal has great ability to understand complex legal problems.

Key clients

Enel Generación Chile

Banco del Estado de Chile

Sumitomo Mitsui Banking Corporation

Banco Santander Chile

Banco Security

Banco BICE

Banco de Crédito e Inversiones

DNB Bank

CaixaBank

Sonnedix

Enjoy

Scotiabank Chile

Itaú Corpbanca

Work highlights

  • Advised an international syndicate of banks (comprising BBVA – New York Branch, Bank of Nova Scotia and Crédit Agricole) on the granting to Enel Americas of an unsecured credit facility for general corporate purposes.
  • Advised Banco de Crédito e Inversiones on a refinancing granted to Prime Energía Quickstart.
  • Advised Enjoy (currently undergoing a reorganisation proceeding under Chilean insolvency law) on the financing to four of its subsidiaries, which related to the renewal of banking guarantees.

Philippi Prietocarrizosa Ferrero DU & Uría

Philippi Prietocarrizosa Ferrero DU & Uría's eight-member banking and finance department has a strong market reputation for its advice to foreign and local banks and financial institutions, as well as borrowers and sponsors; its key areas range from project finance in the energy, mining and infrastructure sectors to syndicated financing, aircraft finance and offshore bonds. The team is co-led by Marcelo Armas, who 'always finds solutions for complicated issues', and has a strong track record in sophisticated financings involving several jurisdictions; and Marcela Silva (partner since 2019), whose practice encompasses banking and finance, project finance, infrastructure, capital markets and insurance. Also key to the group are Andrés Sanfuentes, who was part of the Chilean counsel team to Grenergy Renovables (as borrower and sponsor) in the financing of 14 solar energy plants; and 'rising star' associate Daniel Parodi, whose practice includes the financing of aircrafts and vessels.

Practice head(s):

Marcelo Armas; Marcela Silva

Testimonials

Very practical advice and prompt responses.

They have good response times and there is very good co-ordination with complementary teams, such as the tax group.

A very professional and competent team that is extremely helpful and demonstrates great legal knowledge and competence.

Excellent synergy between the senior partners and team associates.

Definitely compares favourably with other firms for its professionalism, attentiveness and for always being ready to help. They differ from competitors in that they convey real concern for the client’s interests.

It is a real pleasure to work with this banking and finance team, particularly with Marcela Silva.

Marcelo Armas continues to give excellent and practical advice; he understands the concerns of the international banks and always finds solutions for complicated issues.

Associate Daniel Parodi is a rising star in this field – excellent availability and client service, along with response times and willingness to support his clients.

Key clients

The Bank of Nova Scotia

Mizuho Bank

Credit Suisse

MUFG Bank

CLS Bank

Deutsche Bank

Morgan Stanley & Co

Santander Investment

BNP Paribas

Sumitomo Mitsui Banking Corporation

KfW IPEX-Bank

Export Development Canada

Banco Santander

Ibereólica Renovables Chile

EDF EN Chile Holding

ING Capital

Banco de Crédito e Inversiones

Banco Internacional

Compañía de Seguros Confuturo

CaixaBank

DNB Bank

Société Générale

Natixis (New York branch)

Grenergy Renovables

Work highlights

  • Advised BNP Paribas, as joint lead arranger and sole sustainability co-ordinator of a group of banks, on a $100m syndicated revolving credit facility that was structured as a sustainability-linked loan with Empresas CMPC.
  • Advised the sponsors on the refinancing and financing of the expansion of wind power plant Cabo Leones I.
  • Advised CLS Bank regarding onboarding the Chilean peso into its foreign exchange settlement system, which was in response to the Central Bank of Chile’s Chilean peso internationalisation project.

Baker McKenzie Chile

Baker McKenzie Chile's nine-member multi-disciplinary practice advises commercial, merchant and investment banks, as well as corporate users of credit, on a diverse range of banking and finance transactions; its representative experience covers acquisition and project finance, corporate loans, refinancing, derivatives and regulatory advice. As part of the firm's LatAm banking and finance and major projects group, certain Santiago office team members consistently participate in New York law-governed transactions (as members of the firm's NY-LatAm team). The co-heads of the practice are Sebastián Vivanco, who focuses on project finance, including syndicated loan agreements and local security packages; and Jaime Munro, whose track record includes corporate finance and infrastructure projects. Cristóbal Larrain and José Ignacio Berner are experienced associates.

Practice head(s):

Sebastián Vivanco; Jaime Munro

Key clients

Natixis

BNP Paribas

ING Capital

Societe Generale Corporate and Investment Banking

General Motors Financial

Grupo Security

Mantos Copper

Cencosud

Banco Security

Work highlights

  • Advised Sociéte Generale on a term loan facility to KL Dos Leasing, a special purpose vehicle formed by Kaufmann to finance the purchase of buses for the Santiago Public Transportation System.
  • Assisted Bank of China (Grand Cayman branch) with a project financing.
  • Advised Bank of China (Grand Cayman branch) on a working capital term loan to Banco Security.

Bofill, Mir & Álvarez Jana

The 20-member banking and finance department at Bofill, Mir & Álvarez Jana has a strong reputation for its advice to institutional investors (insurance companies and investment funds) on financing; the practice also has automotive and leisure sector expertise. Over the last year it has been notably active in syndicated financing, general lending and refinancings. Jointly leading the team are founding partner Octavio Bofill ('thorough knowledge of banking and financial matters'); fellow founding partner Alejandro Álvarez, whose recent work includes overseeing advice on the financing of a clinical facility; and Ana María Yuri, who handles structured and project finance, and syndicated loans. The second line of partners includes transport infrastructure finance specialist Rodrigo Saffirio, and local and international financing expert José Antonio Velasco.

Practice head(s):

Octavio Bofill; Alejandro Álvarez; Ana María Yuri

Testimonials

They accompany clients during decision making, meaning their advice has added value, since they see situations from both a legal and business point of view.

Octavio Bofill is a great lawyer, who has thorough knowledge of banking and finance matters and great powers of analysis – he’s very quick to understand the problems on the table.

Key clients

Clínica de la Mujer Sanatorio Alemán

HighService Corp

Bice Vida Compañía de Seguros

BK

Work highlights

  • Advised HighService Corp on the restructuring of its debt with several banking institutions.
  • Advised Bice Vida Compañía de Seguros de Vida on a leasing agreement for the formation of a joint venture (between ENEA, Megacentro and Bice Renta Urbana), which intends to acquire real estate in Santiago.
  • Advised Buses Hualpén on obtaining a loan with Banco Security.

Cariola Díez Pérez-Cotapos

Cariola Díez Pérez-Cotapos' ten-member banking and finance practice focuses on structuring cross-border loans, inclusive of tax analysis. Other areas of strength are project finance involving the mining, energy and infrastructure sectors; acquisition and corporate financings; corporations' restructurings; secured financing for agriculture producers and fish farming operations; and derivatives and trade finance. The team also maintains a robust regulatory practice. The departmental co-heads are Francisco Illanes, whose broad practice includes restructuring and creditor agreements; Rodrigo Sepúlveda (project finance and syndicated loans); and Juan Antonio Parodi, who assists with finance structuring, establishing guarantees, negotiating loan documents and project finance. Among the associate ranks, senior Sergio Balharry and intermediate Cristóbal Morales are noted. However, senior Florencia Grez moved to MBC Abogados in June 2021.

Practice head(s):

Francisco Illanes; Rodrigo Sepúlveda; Juan Antonio Parodi

Testimonials

The team, led by Juan Antonio Parodi, is of a very high technical standard and very available to its clients.

When they work for a client’s company, they act as if the company were their own.

Key clients

DNB Bank

Rabobank

Inter-American Investment Corporation

Inter-American Development Bank

Esmax Distribución

UniCredit Bank

Banco Nacional de Desenvolvimento Econômico e Social

Itaú Corpbanca

Banco de Crédito e Inversiones

Scotiabank Chile

Soltec Energías Renovables

BHP (Minera Escondida)

Work highlights

  • Advised DNB Bank (as mandated lead arranger, original lender, original hedge counterparty, issuing bank and agent) on the restructuring of a $65m multi-currency revolving facility agreement.
  • Advised Inter-American Investment Corporation and the Inter-American Development Bank (as lenders) on a $125m financing granted to Chilean stock corporation Engie Energía Chile for the development, construction, operation and maintenance of a renewable energy project.
  • Advised Esmax Distribución on the implementation of its corporate reorganisation and financing restructuring, which involved a credit facility restructuring.

Garrigues Chile

The 'exceptional' 12-member banking and finance team at Garrigues Chile is regularly sought out for major deals involving the acquisition of financial assets and acquisition, mezzanine and project financing, along with corporate lending and restructuring. Chilean and international clients operating or investing in Chile also benefit from the firm's international platform. 'Highly prepared' department head Pedro García is a specialist in corporate loans, project and structured finance, debt restructuring and regulatory matters; and Jaime de Larraechea has approximately 20 years' finance experience. Former principal associate Antonio Morales (debt restructuring and project finance) was made partner in January 2021, and senior associate Federico Espinosa, along with 'excellent' associate María Francisca Correa, are also key team members. However, Francisca Ferrer moved in house at Prime Energía in May 2021.

Practice head(s):

Pedro García

Testimonials

A highly qualified team with outstanding knowledge of local and international laws and finance operations.

Strong ties and contacts with international firms, banks and other institutions.

Good relationships with local firms, which facilitate the achievement of objectives during each operation.

An exceptional team with a lot of industry knowledge – it really is a pleasure to work with them.

During the transaction they demonstrated wide and deep knowledge of the different topics discussed – one of the best teams in this area and its lawyers are very prepared.

Always attentive to answering questions both from me and the other parties involved in the transaction.

Pedro García is a highly prepared lawyer; he always bring important and timely contributions to the table that contain innovative proposals.

Associate María Francisca Correa is an excellent lawyer, who is clear, knowledgeable and able to resolve issues.

Key clients

AMP

Arroyo

Banco BICE

Banco BTG Pactual Chile

Banco de Chile

Banco del Estado de Chile

Banco del Estado de Chile

Banco Santander

Banco Santander-Chile

Banco Security

BCI

BNP

Central Bank of Chile

Credit Agricole

Empresa Nacional del Petróleo

GTD

JP Morgan

Mizuho

MUFG

Natixis

Scania

Scotiabank Chile

SMBC

Société Generale

Work highlights

  • Assisted the Central Bank of Chile with creating a new credit package worth approximately $50bn to assist commercial banks with their liquidity and ability to continue granting loans to Chilean companies during the Covid-19 pandemic.
  • Advised AMP Capital, as lender, on a $280m mezzanine financing granted to Mainstream Renewables Power.
  • Advised ENAP on three term-loan facilities, which were granted by Mizuho, BNP and The Bank of Nova Scotia in three separate transactions (for a total amount of $450m).

Guerrero Olivos

Guerrero Olivos' sizeable 18-member department is best known for its advice to local and international companies from the telecoms, energy and mining sectors, as well as its assistance to international lenders with cross-border transactions; and the practice's key areas of work include bilateral and syndicated loans; structured, acquisition and project finance; restructuring; refinancing; and regulatory advice. The group's co-heads are syndicated loan, debt restructuring and project finance specialist Miguel Coddou (elevated to partner in January 2020); structured finance and acquisition financing expert Jorge Delpiano; and Juan Enrique Allard, whose broad practice also includes banking and finance. The second line of advisers includes energy financing specialist Sebastián Abogabir, and senior associates César Gálvez and Benjamín Novoa. Former partners Roberto Guerrero V and Macarena Ravinet left the firm at the end of 2020.

Practice head(s):

Miguel Coddou; Jorge Delpiano; Juan Enrique Allard

Testimonials

An excellent team that is knowledgeable in the law, practical, solution oriented and highly responsive.

Communicates extremely well in both Spanish and English.

Key clients

IDB Bank

M&G

WOM

Banco Santander-Chile

Natixis (New York branch)

The Prudential Insurance Company of America

Citic Bank International

Deutsche Bank

Scotiabank

Molitalia

Citicorp International

Anglo American Marketing

GAM Kimura Master Fund

Cap Vert Energie

Next Energy

Scotta Group

Work highlights

  • Advised IDB Invest on a $1.3bn financing to energy generation companies.
  • Advised British investment manager M&G on a $300m international energy financing for PowerTree.
  • Advised Natixis (New York branch) on high-value international energy financings.

CMS Carey & Allende

CMS Carey & Allende handles the full range of finance work, including project finance, receivables-based credit agreements, syndicated loans, debt restructuring, and the financing of international expansion plans; and the team frequently works alongside the firm's M&A lawyers on big-ticket acquisition financings. Heading the banking and finance group, Fernando De Cárcer is well known for project financing involving the agribusiness, energy and defence sectors; and, promoted to partner in December 2020, Ignacio Errazquin's practice includes energy project finance. Senior associate Enrique Vergara also advises on banking and finance matters.

Practice head(s):

Fernando de Cárcer

Key clients

Sun International

Elecnor

Nevasa Administradora General de Fondos

Sun Dreams

Nueva Inversiones Pacífico Sur

AKA Bank

Work highlights

  • Advised Sun Dreams on the refinancing of a syndicated $152m loan, which was granted by BCI, Banco Estado, Scotiabank Chile and Banco de Chile.
  • Advised Sun International on refinancing a syndicated $61m loan, which was granted by BCI, Itaú Corpbanca, Scotiabank Chile and Banco Santander-Chile.
  • Advised Nueva Inversiones Pacífico Sur on a credit agreement, which was granted by Banco de Crédito e Inversiones.

Cuatrecasas

With Latin America a priority region in its international strategy, Iberian law firm Cuatrecasas opened a substantial Chilean office in 2020. The arrival in Santiago was followed shortly after by the launch of a banking and finance practice in early 2021, the firm hiring Macarena Ravinet (syndicated loans, restructurings and project finance) as department head, and transactional and regulatory banking specialist Roberto Guerrero V, from Guerrero Olivos. The team is particularly experienced in advising on restructuring, refinancing, project finance and banking regulatory matters. Also key to the group is experienced partner Alfonso Ugarte, who joined in January 2021 from the former Baraona Fischer Spiess.

Practice head(s):

Macarena Ravinet

Key clients

Costa Verde Aeronáutica

Moneda

EdgeConneX

Work highlights

  • Advised Costa Verde Aeronáutica (as majority shareholder in Latam Airlines Group) on its role as debtor-in-possession lender, in relation to a financing for Latam Airlines Group.
  • Advised EdgeConnex Chile on the financing of its first data centre in Chile, which involved a credit facility with Sumitomo Mitsui Banking Corporation.
  • Assisted fund administrator Moneda with the restructuring of a credit facility, which was granted to paint-manufacturer, Microblend.

Honorato | Delaveau

Honorato | Delaveau's eight-strong banking and finance practice leverages off its name partners' former banking industry careers, through José Luis Honorato, who previously worked for JP Morgan in Chile, and Gonzalo Delaveau, a former in-house counsel at Chase Manhattan Bank. The team's expertise includes M&A-related financing, restructuring, liquidation and bankruptcy, while on the international financing side it advises creditors and debtors on collateralised and non-collateralised loans. Matías Langevin (current officer of the International Bar Association's Banking Law Committee) heads the practice, which includes 'outstanding' structured and asset-backed financing specialist Sebastián Delpiano, and real estate project finance associate Antonia Vial. In January 2021, the firm hired Felipe Divin from a brokerage service company to lead its corporate governance, financial regulation and IT practice.

Practice head(s):

Matías Langevin

Testimonials

Complete technical knowledge in specific subjects, while delving further into very technical points that other firms are unaware of.

Sebastián Delpiano is outstanding in finding strategic solutions and executing them in such a way that clients have a thorough understanding of them.

Key clients

Goldman Sachs

Bank of America

Alta Developers

BNP Paribas

Primus Capital

Banco BICE

Banco Security

Citi

HSBC Bank Chile

Central Hipotecaria

Banco Consorcio

Moneda

Buda

Nuevo Capital

Innergex Renewable Energy

Nevasa

Gestión de Proyectos Eléctricos

Vantrust

Quatum X

Banco de Crédito e Inversiones

Banco Santander (Chile)

JP Morgan

Larrain Vial

Work highlights

  • Advised Nuevo Capital on a secured structured finance transaction.
  • Advised Buda on regulatory matters surrounding cryptocurrency in Chile.
  • Advised Primus Capital on a $60m capital contribution from Innergex to Innergex Chile, followed by a loan for approximately $62m that was granted by Innergex Chile to PV Salvador.

Larrain y Asociados Abogados

Larrain y Asociados Abogados' five-member team 'offers solutions that are tailored to clients' needs'; the practice advises banks, brokers and financial institutions (as well as companies) on syndicated loans and acquisition and structured finance, along with energy project financings involving the petrochemical, mining and infrastructure sectors. The banking and financing team is led by experienced partners Patricio Montes (project finance) and Jorge Granic (complex industrial project financings). Senior associate Diego Garay's practice also includes project finance work, while the team additionally fields associates Teresita Vinagre and Michelle Inzunza.

Practice head(s):

Patricio Montes

Testimonials

They have a lot of practical knowledge and the team offers solutions that are tailored to clients’ needs.

Patricio Montes and senior associate Diego Garay stand out for their flexibility, and for always being available to serve the client – even when working under high levels of pressure.

The experience and attention to detail are highly evident.

Key clients

Banco del Estado de Chile

Banco Consorcio

Itaú Corpbanca

Sacyr Agua

Fundación Viento Sur

Toesca Infraestructura II Fondo de Inversión

Nordex SE

Reden Development Chile

Sociedad Concesionaria Nuevo Camino Nogales Puchuncaví

Work highlights

  • Advised Nordex on the Chilean aspects of an international financing.
  • Advised Banco del Estado de Chile on a project refinancing.
  • Advised Toesca Infraestructura II Fondo de Inversión on a syndicated acquisition financing.

Prieto Abogados

Prieto Abogados consistently advises lenders and borrowers on loan agreements, syndicated loans, project finance, VAT facilities, and local and international debt placements; and the practice has specific transactional expertise in the energy, mining, transportation, infrastructure and retail industries. It was recently particularly active in innovative lender-side financing projects involving aircraft acquisitions and development in the electromobility sector. The practice co-heads are Mario Gorziglia, who, in addition to leading the tax department, advises on infrastructure, mining and energy-related project finance; Patricio Prieto L (over 20 years’ finance experience); and Benjamín Grebe, whose broad practice includes bankruptcy and insolvency work. Senior associate Isabel Monge also assists with finance matters (since publication she has been raised to counsel, effective November 2021). Former partner Gerardo Cruzat left the firm in March 2020.

Practice head(s):

Mario Gorziglia; Patricio Prieto L; Benjamín Grebe

Testimonials

The team is multidisciplinary, which allows them to respond from all fronts.

Very knowledgeable about the market.

Key clients

Compañía Minera Doña Inés de Collahuasi

Codelco

Penta Vida Compañía de Seguros de Vida

4 Life Seguros de Vida

Moneda Asset Mangement

Elliot Manangement Corporation

Engie Energía Chile

Plaza

Caja de Compensación Los Andes

Compañía Industrial El Volcán

Infraestructura Alpha

Banco de Crédito e Inversiones

MUFG Bank

Société Générale

Natixis

ING

Work highlights

  • Advised a consortium of financial institutions (including Banco de Crédito e Inversiones, BCI Miami, MUFG Bank and Natixis) on negotiations with Mantoverde (and its sponsors) regarding a $500m project finance involving the Mantoverde copper mining project.
  • Advised Engie Energía Chile on the negotiation of a $125m loan, which was granted by IDB Invest for the construction of a wind farm in northern Chile.
  • Advised Codelco on the negotiation, execution and implementation of a credit facility with Export Development Canada for up to $300m.

Urenda, Rencoret, Orrego y Dörr

The nine-member banking and finance department at Urenda, Rencoret, Orrego y Dörr houses specialists in debt transactions, derivatives, structured finance and regulatory support; it is also particularly active in high-value projects involving the mining and energy sectors. Felipe Rencoret's broad practice includes project finance; mining industry expert Nicholas Mocarquer assists both borrowers and lenders with structured finance and regulatory issues; and Rodrigo de Alencar has longstanding experience in banking and finance, capital markets and M&A/corporate matters. At associate level, experienced senior Rafael Rencoret also advises on project finance.

Practice head(s):

Felipe Rencoret; Nicholas Mocarquer; Rodrigo de Alencar

Key clients

BHP

Minera Escondida

Bancolombia

Banistmo

GE Capital Aviation Services

Inmobiliaria Mall Viña del Mar

Sparebanken Møre

The Bank of New York Mellon

Royal Gold

Yamana Gold

Inmobiliaria Punta Piqueros

Work highlights

  • Assisted Minera Escondida, as borrower, with a two-tranche $500m syndicated loan with a group of ten lender banks.
  • Advised Inmobiliaria Mall Viña del Mar on the extension of a credit facility with BCI, as well as obtaining additional financing.
  • Advised Inmobiliaria Mall Viña del Mar on the refinancing of a loan with Banco Estado.

Baraona Marshall & Cía

Following Baraona Fischer & Cía's January 2021 split, Baraona Marshall & Cía houses a seven-member department that is particularly focused on advising creditors, debtors, guarantors and multilateral organisations on project financing. It also assists with banking regulations, derivatives, and governmental and corporate financing. New name partner, practice head Raúl Marshall is an experienced finance and derivatives specialist, while fellow name partner and renowned tax-specialist Juan Pablo Baraona is another key banking and finance contact. Active associates include Rodolfo Vega, but Jeanne Marie Miquel returned to Triple Jump as a consultant in June 2021.

Practice head(s):

Raúl Marshall

Testimonials

Their predisposition and availability to meet the requirements made of them in a timely manner make them very special, with a solid knowledge base that makes their responses very reliable.

The difference from other firms is that they always give more than 100% in terms of capacity, availability, help and productivity.

The team has sufficient capacity to execute transactions that require the co-ordination of multiple parties.

Solid seniority to facilitate negotiations with multiple creditors, and very oriented towards closing agreements.

They are able to write complex operations into the credit contracts in a simple way, which greatly facilitates the bank’s work and negotiations with clients.

The partner in charge of business is permanently involved in the negotiations.

Raúl Marshall and associate Rodolfo Vega always give their very best.

Raúl Marshall and Rodolfo Vega are always available to ensure that operations are completed quickly; these are excellent lawyers who know the market and standard industry practices very well, making them a great support when negotiating.

Key clients

AFP Habitat

AFP Provida

AFP Modelo

Itaú Corpbanca

Banco Itaú Argentina

Sociedad Concesionaria Costanera Norte

Astaldi Concessioni (Chile branch)

Banco Security

Banco de Crédito e Inversiones

Scotiabank

Banco del Estado de Chile

Banco Santander

Banco Internacional

BTG Pactual Chile

MIKOPO

Psinet

Kinza Capital

Sacyr Concesiones Chile

Asesoria e Inversiones Benjamin

Fingo

Red Andes Salud

Gestión Solar

Work highlights

  • Advised Gestión Solar on the negotiation of a financing with CIFI.
  • Advised Itaú Corpbanca on the amendment to a facility agreement with Sociedad Concesionaria Autopista Costa Arauco.
  • Advised Banco de Crédito e Inversiones on the amendment of a financing contract for Hidroeléctrica Cumpeo.

Coeymans, Edwards, Poblete & Dittborn

With 'thorough knowledge and absolute availability', mid-size firm Coeymans, Edwards, Poblete & Dittborn's banking and finance team predominantly focuses on the financing of real estate projects and M&A, as well as the financing of growth assets by banks, private lenders and financial institutions. Founding partners Alejandro Edwards ('does an exceptional job') and Tomás Poblete, whose wide-ranging practice includes energy projects, lead the four-member group, which includes associate José Manuel Errázuriz, who advises on project finance matters.

Practice head(s):

Alejandro Edwards; Tomás Poblete

Testimonials

Very thorough knowledge and absolute availability.

Great negotiating skills.

Alejandro Edwards does an exceptional job in this area – he is very dedicated, practical, has great experience, and provides concrete and efficient solutions.

Key clients

Frontal Trust

Spectrum

Valhalla Energy

IFB Inversiones

Soquimich

Aguas Andinas

Agricultural Land Corporation

FHUSA

Salfacorp

Aconcagua

Natz Investments

Global Pesca

Linio.com

Buscalibre.cl

Altumac

Besalco

BR Capital

Enea

Fimar

Patagon Land

Kabsa

Navimag

Turismo Cocha

Viña Luis Felipe Edwards

BRI Spa

Enea

Fundación CEC Chile

Genomma Lab

Greensill Capital

Inmobiliaria Frutillar

Unifrutti

Work highlights

  • Advised Agrícola Spoleto on a credit facility with Banco Itaú.
  • Assisted with a high-value, long-term refinancing.
  • Advised a major company on a high-value bank financing.

Dentons Larrain Rencoret

Dentons Larrain Rencoret's 'very focused' five-member department regularly advises domestic and foreign banks and financial institutions (including multilateral organisations) on the structuring of financings for Chilean companies. Representative work for the Santiago office includes corporate finance, project financing, and restructuring and payment reschedulings, particularly in relation to the energy, mining, agriculture, and financial services sectors. With over 30 years' experience, department head Felipe Rencoret Prieto (also in charge of the office's capital markets department) acts for both banks and companies on major financings.

Practice head(s):

Felipe Rencoret Prieto

Testimonials

A firm with many practice areas that can complement the needs of particular transactions.

The lawyers have a complete understanding of my business, with a focus on moving it forward while protecting the interests of my company.

A lot of experience and knowledge – and with commercial vision.

A very focused team!

Constantly delivering relevant information, and they clearly map the risks out that certain financings might entail.

Great accessibility and knowledge are maintained at all times.

Key clients

Banco de Crédito de Inversiones

Inter-American Investment Corporation (IDB Invest)

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

  • Advised Banco de Crédito e Inversiones (and judicial receiver Patricio Jamarne) on the financing surrounding the sale of Eloisa.
  • Advised Banco de Credito e Inversiones on the acquisition finance granted to Prime Energía Antilhue for the purchase of a thermoelectric power plant in Valdivia.
  • Advised Banco de Credito Inversiones (as lender) on the VAT facility granted to three project companies (owned by Germany’s WPD), which are developing three wind parks in Chile.

DLA Piper Chile

DLA Piper Chile‘s four-strong team consistently advises banks, financial institutions and syndicated club banks on structured finance and multilateral deals; the Santiago office also has active practices in project finance (particularly solar) and regulatory matters. Matías Zegers has extensive experience in finance work; Mauricio Halpern (partner as of 2020), regularly acts as lead bank or borrower/sponsor counsel in relation to credit facility structuring; and associate Vicente Vergara‘s practice covers lending, structured products, and energy and infrastructure project finance.

Practice head(s):

Mauricio Halpern; Matías Zegers

Key clients

Oaktree Capital Management

CarbonFree Technologies

Seven Seas Water Chile

Inversiones de Aguas Chile

Axesat Chile

Itaú Corpbanca

Banco BICE

Banco de Crédito del Perú

Lácteos del Sur

Waterlogic

Giddings Fruit

Biocatch

Work highlights

  • Advised (as Chilean counsel) Oaktree Capital Management, as tranche A lender for a super-priority debtor-in-possession term loan agreement, by which Latam Airlines Group requested a delayed-draw term loan facility.
  • Advised (as Chilean counsel) Seven Seas Water Chile and Inversiones de Aguas Chile (as guarantors of a credit agreement).
  • Acted as Chilean counsel to Axesat Chile as guarantor of a credit agreement.

Fontaine & Cía

Acting for institutional investors (particularly life insurance companies) and family offices, Fontaine & Cía's six-member department is best known for its experience in financing real estate projects, along with structuring project financing, syndicated loans and liability restructuring. Heading the finance and capital markets area, Juan Eduardo Troncoso is a real estate and project finance expert; key support is provided by associates Javiera SeraniCamila Aranda and Sebastián Garrido, who all assist with project finance and restructuring matters.

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 Metlife Seguros de Vida on a property-related financing agreement.
  • Assisted Chilena Consolidada Seguros de Vida with a financing operation (through a leasing and loan).
  • Advised Principal Compañía de Seguros de Vida (Principal) on a commercial pledge and collection commission in favour of Principal, which related to a sub-letting contract.

Grasty Quintana Majlis & Cia.

Grasty Quintana Majlis & Cia. fields a specialised seven-strong team that regularly advises on syndicated and bilateral credit facilities; it also assists with significant project financings, and has a growing practice in advising start-up companies and venture capital firms on the financing of investments. Practice co-heads Franco Acchiardo, who advises Chilean and foreign clients on transactions involving the mining, telecoms, petroleum, gas, real estate and financial services sectors; and Juan Turner, whose broad practice includes advising on credit facilities and project finance, are the key names to note.

Practice head(s):

Juan Turner; Franco Acchiardo

Work highlights

  • Advised Valley Rubber on a refinancing agreement.

Jara Del Favero Abogados

Jara Del Favero Abogados' 2018 merger with Ried Fabres, which operated as Jara del Favero & Ried Fabres, was unwound in early 2020. The eight-strong banking and finance practice is experienced in corporate finance and structuring transactions, both at local and international levels. The team is co-led by Felipe Ovalle, who is recommended for mining-related finance transactions; Sven Herlin, primarily financings for real estate projects and technology companies; and corporate finance specialist Alvaro Caviedes. Appointed associate practice director in May 2020, Christian Schiessler provides key second line support on financing, capital markets and corporate matters.

Practice head(s):

Felipe Ovalle; Sven Herlin; Alvaro Caviedes

Key clients

Minera Los Pelambres

Minera Centinela

Algorta Norte

Antofagasta Minerals

Compañía Minera Zaldívar

Forum Servicios Financieros

Minera Antucoya

Work highlights

  • Advised Minera Los Pelambres on a loan agreement for its copper mining infrastructure project.
  • Advised Minera Centinela on a corporate loan.
  • Assisted Algorta Norte with a corporate loan.

MB Abogados

Primarily advising on the borrower side, MB Abogados' 'very agile' finance team regularly advises corporate clients on a range of transactions, including M&A, joint ventures, project financing and governance matters. The team is experienced in the financing of real estate projects, but has expanded its client portfolio to include companies from the retail, healthcare, investment funds, hospitality, and food and beverage sectors. Highly regarded practitioners Carolina Menichetti and Benjamín Salas lead the team, which includes senior associate Sybil O’Reilly; both Menichetti and O'Reilly have 'deep real estate industry knowledge'. Moreover, the team was substantially strengthened with the arrival of an additional senior, Florencia Grez from Cariola Díez Pérez-Cotapos, in June 2021.

Practice head(s):

Carolina Menichetti; Benjamín Salas

Testimonials

The team is very agile in its responses, always keeping both the global transaction and long-term relationship in mind.

They always put the client at the forefront with clean, clear and simple closings.

Very meticulous and detailed lawyers in all aspects of each transaction.

They defend the interests of their clients very well.

Good response times with extensive experience in real estate transactions and financing.

Carolina Menichetti and senior lawyer Sybil O’Reilly have deep real estate industry knowledge, and always put in a very good performance with empathy, speed, certainty and teamwork.

Key clients

Centros Comerciales I

LV-Patio Renta Inmobiliaria III

LV-Patio Renta Inmobiliaria V

LV Patio Renta Inmobiliaria VI

Rentas Patio I

Patio Comercial

Fondo de Inversión LV-Patio Renta Inmobiliaria I

La Dehesa Comercio

Inmobiliaria Algeciras

El Morro

Inmobiliaria Mirador Azul Uno

Patio Self Storage

Inversiones Santa Teresita

Fondo de Inversión Privado Patio y Gestión

Inversiones K

Work highlights

  • Advised Centros Comerciales I (CCI) on the negotiation of a syndicated loan agreement, under which Banco Itaú Corpbanca and Santander-Chile granted CCI a loan for $120m.
  • Advised La Dehesa Comercio on a promise-to-purchase agreement and financing transaction.
  • Advised Patio Comercial on its third and fourth bond placements.

Ried Fabres

Returning to its former independent status, Ried Fabres' 2018 merger with Jara Del Favero Abogados was unwound in early 2020 (the two firms were previously operating as Jara del Favero & Ried Fabres). The 'very good, practical and accessible' practice group advises on loans, project finance, international and local bonds, banking regulatory matters and derivatives trading. Cristián Fabres has longstanding banking and finance experience; José Miguel Ried advises issuers, banks, stockbrokers and dealers on banking and finance transactions; and Ricardo Abogabir, who handles regulatory work, derivatives and finance deals, was appointed partner in April 2020. Jaime Hirschberg is the senior associate to note.

Practice head(s):

Cristián Fabres; José Miguel Ried; Ricardo Abogabir

Testimonials

Very good, practical and accessible.

Excellent team work.

Key clients

Deutsche Bank (Chile)

Empresa de Transporte de Pasajeros Metro

Banco Santander

Credicorp Capital

BCI Group

BCI Bank

Empresas Juan Yarur

BCI Asset Management

BCI Corredor de Bolsa

BCI Corredora de Productos

BCI Asesorías Financieras

BCI Factoring

BCI Securitizadora

Ameris Capital

BTG Pactual

Sky Airlines

BICE Group

Tanner Group

Larraín Vial

BlackRock

Itaú Corpbanca

Consorcio

Work highlights

  • Assisted Fondo de Inversión Bci Invinsa Rentas Inmobiliarias with negotiating a credit facility agreement with Banco BCI and AFP Provida.
  • Assisted Bci Asset Management with financings for Empresa Nacional de Minería, Compañía General de Electricidad and Forum Servicios Financieros (on behalf of an investment fund granting loans to companies facing pandemic-related cash difficulties).
  • Assisted Banco BCI with the negotiation of the refinancing of two structured loan agreements.