Firms To Watch: Capital markets

Launched as recently as late 2019, Alamos, Alvarez & Squella‘s capital markets department is co-led by young partners Alfonso Álamos and Felipe Alvarez (former senior associates at Barros & Errázuriz and Ossa, Izcue & Montes, respectively); the team assists with securities-related deals and the structuring of businesses to obtain capital investments, as well as advising international clients on accessing Chile’s capital markets.

Capital markets in Chile

Barros & Errázuriz

The sizeable capital markets practice at full-service law firm Barros & Errázuriz routinely advises companies looking to obtain resources through the issuance of securities and public offering of bonds and shares (both in the domestic and international markets). The ‘very good' firm is also recognised for both its provision of regulatory advice to the Chilean authorities and its highly active investment funds practice. The team is led by debt and equity issuance specialist Luis Alberto Letelier, who is flanked at partner level by widely-respected capital markets' transactions expert Cristián Barros; Víctor Barros, whose expertise covers all aspects of bonds work; and experienced regulatory practitioner Javier Díaz. Within the senior associate ranks, Juan Ignacio Galdámez is admitted to practice in both Chile and New York; Fernando Campino advises issuers and securities' intermediaries (as well as those of investment funds); and Francisco Vial is experienced in securities' regulations. Former senior associate Cristián Risopatrón left for Salfacorp in March 2022.

Practice head(s):

Luis Alberto Letelier; Cristián Barros; Víctor Barros; Javier Díaz


A very good work team that always meets timescales.

High levels of knowledge.

Great response times and experience – good availability and commitment.

Barros Errázuriz is a benchmark in the legal services market in the funds area. The depth of its regulatory practice is an indispensable support for fund administration professionals.

Victor Barros is the name to note.

Key clients


Econsult Administradora General de Fondos

Ameris Renta Industrial II Fondo de Inversión

Ameris Capital Administradora General de Fondos

Cruzados SADP


Penta Vida


BlackSalmon Capital

Asset Administradora General de Fondos


BICE Inversiones Administradora General de Fondos

Administradora General de Fondos Security



Work highlights

  • Advised Cruzados SADP on the registration and automatic placement of a line of bonds.
  • Advised Minera Valparaíso on the registration in the automatic registry of the Chilean Comisión para el Mercado Financiero of bond lines and the placement of 5,000 Series B bonds.
  • Advised Agrosuper on the issuance of senior notes under Rule 144A/Reg.S of the Securities Act.


A legal powerhouse, Carey fields a 41-strong capital markets practice that is consistently mandated by issuers and bond and stockholders on corporate and securitised bonds, trade effects, and public and private securities. Standing out for its ‘commitment to clients', the team is also expert in high-profile securities offerings, including cross-border IPOs, capital increases, debt issuances and securitisations. The practice group consists of a raft of active partners, including Diego Peralta, an expert in the creation of financial products; local bond issuance specialist Salvador Valdés; Francisco Ugarte, who structures debt and equity deals in the local and international capital markets; Felipe Moro, whose practice covers US private placements and 144A/Reg.S transactions; and investment funds expert Cristián Eyzaguirre. Also integral to the group are: Jorge Ugarte, whose practice includes liability management deals; securities specialist Cristián Figueroa, who ‘stands out for his knowledge and expertise'; Chile and New York-qualified Patricia Silberman; Fernando Noriega, who advises on local and international securities offerings; and bonds and securities practitioner Alejandra Daroch.

Practice head(s):

Diego Peralta; Salvador Valdés; Francisco Ugarte; Felipe Moro; Cristián Eyzaguirre; Jorge Ugarte; Cristián Figueroa; Patricia Silberman; Fernando Noriega; Alejandra Daroch


A team of highly-prepared lawyers who are leaders in their fields.

Stands out for its commitment to clients in seeking tailored solutions – great availability and response times.

Cristián Eyzaguirre stands out for his knowledge and expertise, and for the ability to explain legal and regulatory terms to clients’ commercial teams in simple language.

The team at Carey is an experienced, knowledgeable, accessible and responsive group of outstanding partners and associates who provide excellent service to their clients and work collaboratively with international counsel on some of the most complex cross-border securities transactions involving Chilean companies and the U.S. capital markets. As one of the leading firms in Chile, the Carey team is involved in many high profile capital markets transactions and has a perspective on cross-border transactions that few local firms can match.

The Carey team is very responsible and responsive, on par with major U.S. law firms in New York.

Patricia Silberman is an outstanding lawyer who is qualfied in both the U.S. and Chile and well experienced in U.S. capital markets transactions. She has the distinction of having worked at major U.S. law firms in New York City for five years before moving back to Chile and is completely comfortable with both U.S. and Chilean legal concepts. As a result, she is able to seamlessly bridge U.S. and Chilean law issues, which makes it very easy to work with her and and the rest of the Carey team. Diego Peralta is also an excellent capital markets lawyer that we have worked with in the past.

Key clients

Tianqi Lithium Corporation



Banco de Chile

Patria Investments



Softbank Latin America Fund

HSBC Bank Chile

IXM Chile


Work highlights

  • Advised Tianqi Lithium Corporation on its $2bn IPO and listing on the Hong Kong Stock Exchange.
  • Advised The Bank of Nova Scotia on the acquisition of a 16.76% stake in Scotiabank Chile (and other Chilean subsidiaries of the Said family), by means of a share purchase and share exchange.
  • Advised UBS (London branch), Daiwa Capital Markets America and BNP Paribas on the update of the global medium term note programme of Coopeuch.

Claro & Cia.

Acting for issuers, financiers, initial purchasers, selling shareholders, and institutional and individual investors, Claro & Cia. houses a go-to practice for high-stakes domestic and international securities deals, including public and private offerings. The team’s scope of expertise ranges from IPOs, project-related bond issuances, high-yield and investment-grade debt and equity offerings, to listings on stock exchanges, exchange offers, offers for share acquisitions and debt securities, and hybrid securities. The department features several widely-respected partners, namely: Rodrigo Ochagavía, whose expertise covers the energy, mining, banking and insurance sectors; José Luis Ambrosy, an expert in capital markets-related projects involving the Chilean authorities; and Felipe Larraín, who is particularly focused on deals with foreign counterparties. Luisa Núñez and Juan José León are additional highly-rated capital markets' transactions partners, while Cristián Lagos is an experienced counsel. Nicolás Aspillaga and María Jesús Argandoña are the associates to note.

Practice head(s):

Rodrigo Ochagavía; José Luis Ambrosy


The team is very focused on the task and delivering excellent customer service. In my experience with other law firms, Claro y Cia is an undisputed leader in this matter.’

The partners I work with are Felipe Larraín and Joaquín Rodriguez. Both have a lot of experience in different aspects of the capital markets. They have also both taken the time to understand how my business works and thus facilitate the work.

We have also worked with Jose Luis Ambrosy at Claro on several cross-border capital markets offerings and he is also an outstanding capital markets lawyer worthy of recognition.

Key clients

AES Andes


Banco del Estado de Chile

Sociedad Química y Minera de Chile

Toesca SA Administradora General de Fondos

Latam Airlines Group


Itau BBA USA Securities

Inversiones La Construcción

BOFA Securities

Work highlights

  • Assisted LATAM Airlines Group with the approval of its reorganisation plan, which involved the issuance of three classes of convertible bonds and a capital increase of approximately $10.3bn.
  • Advised BofA Securities, JP Morgan Securities, Citigroup Global Markets and Scotia Capital (USA) on the issuance of inaugural $500m senior notes.
  • Advised BofA Securities and JP Morgan Securities on the issuance of inaugural $300m senior notes.

Morales & Besa

The six-member capital markets practice at full-service firm Morales & Besa is repeatedly sought out for complex deals involving  issuers, underwriters, broker dealers, asset managers and securities industry professionals. The group is also highly active in regulatory matters. It additionally houses a leading practice in project finance bonds, as well as insolvency reorganisation processes that include capital markets aspects. The department is jointly led by founding partner Guillermo Morales, a go-to adviser for both underwriters and issuers; José Miguel Carvajal, whose practice covers capital markets (in addition to corporate law and banking and finance); and Andrea Díaz, whose track record includes playing key roles on large IPOs. Senior associate Gonzalo Pereira, a 2021 hire from the Financial Market Commission, is a specialist in corporate law, capital markets and financial regulation.

Practice head(s):

Guillermo Morales; José Miguel Carvajal; Andrea Díaz

Key clients

The Republic of Chile

Credit Suisse

State Street Bank and Trust Company

Ruta del Loa Sociedad Concesionaria


Work highlights

  • Advised the Republic of Chile and its Ministry of Finance on the issuance, global offering and placement of sovereign sustainability-linked bonds for $2bn.
  • Advised the Republic of Chile and its Ministry of Finance on the issuance, global offering and placement of a peso-denominated sustainable sovereign bond.
  • Advised Falabella on the registration process of six indentures at the Securities Registry of the Financial Market Commission, and on the issuance and placement in the local market of Series AK bonds.

Philippi Prietocarrizosa Ferrero DU & Uría

With a long-established presence in both the national and international capital markets, Philippi Prietocarrizosa Ferrero DU & Uría‘s nine-member group covers both market entry and exit work. The team’s representative experience ranges from the issuance, registration, placement, trading and offering of securities, to advising on prospectuses, agreements, and stock market and over-the-counter market-related deals. The firm also houses highly active corporate governance and compliance practitioners. The practice is co-led by country manager Andrés Sanfuentes and Federico Grebe, who both have longstanding experience in assisting national and foreign companies with major capital markets transactions; and Marcela Silva, a specialist in advising underwriters and issuers of bonds and shares. In January 2023, IPO and debt issue practitioner Constanza Rodríguez and international capital markets financing lawyer Daniel Parodi were both elevated to director level, while former practice co-head Marcelo Armas retired from practice. Principal associate Guillermo Vial is also a key team member. Since publication, Parodi has been raised to the partnership - effective as of December 2023.

Practice head(s):

Marcela Silva; Andrés Sanfuentes; Daniel Parodi; Constanza Rodríguez

Key clients

Bank of America

The Bank of Nova Scotia

BNP Paribas

Tanner Servicios Financieros

XTB Chile

Neuberger Berman Group

Empresas Lipigas

Work highlights

  • Acted for the investors and Sumitomo Mitsui Banking Corporation (as lender) on the issuance by Innergex (through Aela Generación) of green notes.
  • Assisted Tanner Servicios Financieros before the Financial Market Commission on the issuance of a new trade bills facility (for up to approximately $120m).
  • Assisted the Santiago Stock Exchange, the Lima Stock Exchange and the Colombian Stock Exchange with the integration of the three stock exchanges.

Cariola Díez Pérez-Cotapos

Acting for issuers, investment banks, placement agents, financial advisers and investors, Cariola Díez Pérez-Cotapos' 11-member department routinely advises on public and private debt and equity offerings in both Chile and the international markets. Its expertise ranges from IPOs, securities and private placements to American depositary receipts. The practice is jointly led by senior partner Francisco J Illanes, whose practice specialisms cover finance, banking, M&A and telecoms, in addition to capital markets; Rodrigo Sepúlveda, an expert in the issuance of debt and capital instruments; and Juan Antonio Parodi, who advises issuers and underwriters on domestic and international debt and equity capital markets' deals. Within the associate ranks, Sergio Balharry‘s experience covers the creation of security interests, while the more junior Teresita Fernández, Constanza Saiz, Glen Rybertt, Cristóbal Thompson and Javiera Diaz round out the group.

Practice head(s):

Francisco J Illanes; Rodrigo Sepúlveda; Juan Antonio Parodi


Knowledge and advice for decision making.

Deep experience.

Key clients

Compañía Cervecerías Unidas


IDB Invest

Automotores Gildemeister


Empresa de los Ferrocarriles del Estado

Multiexport Foods


Pampa Group


Work highlights

  • Advised Compañía Cervecerías Unidas on the issuance and placement of $600m in senior notes under Rule 144A/Reg.S.
  • Assisted Multiexport Foods with the distribution to its shareholders of the proceeds of a minority interest sale in its affiliate Salmex (by way of a capital increase and subsequent capital decrease)
  • Advised Transbank (as issuer) on its registration with the Public Securities Registry of the Chilean Commission for the Financial Market.

Garrigues Chile

The sizeable capital markets team at international law firm Garrigues Chile is consistently sought out for major bond issuances in both Chile and internationally. Acting for both issuers and underwriters, recent work covered sovereign and domestic bonds, as well as MTN programmes. Leading the practice, Pedro García has longstanding experience in debt securities, equities, liability management, derivatives and regulatory issues. García is supported by funds head José Miguel Rioseco, whose practice incorporates advice to investment fund managers on regulatory matters; and Jaime de Larraechea, an expert in the issuance of securities. A key member of the firm’s securities market law and banking and finance departments, Daniel Hernández was promoted to principal associate in early 2023, while the practice of associate Macarena Fuentes also includes local and international bond issues.

Practice head(s):

Pedro García


Garrigues’ lawyers represent a perfect balance between knowledge of the local and international markets.

Compared to other teams, Garrigues stands out for its openness and willingness to study issues in their very preliminary stages, which is very valuable for us banks.’

Garrigues has recruited highly experienced professionals in the area of financial institutions. Pedro García is the name to note.

Garrigues has a regional network that functions as such, giving access to its clients in the geographies relevant to their operations.’

The extensive knowledge of the local and international capital markets, added to the closeness and willingness of Pedro García and his team, is a benchmark in the market, not only because of his knowledge but also because he is available to help.

Key clients

Banco BICE


Banco Santander-Chile

Scotiabank Chile

Banco del Estado de Chile

Santander Securities


Goldman Sachs

Morgan Stanley

Credit Agricole


Scotia Securities





Work highlights

  • Advised Citigroup Global Markets, HSBC Securities USA, Santander Investment Securities and Scotia Capital (USA) on the issuance by the Republic of Chile of $4bn in USD-denominated sustainable bonds.
  • Advised BancoEstado, as local bonds trustee for LATAM Airlines Group (in relation to the Chapter 11 filing made by LATAM in New York).
  • Advised Falabella on an approximately $195m bond-issuance.

Guerrero Olivos

The fourteen-strong capital markets practice at Guerrero Olivos ranges from debt and equity issuances, to structuring investments funds and fund managers (as well as their transactions). It also assists mutual and public investment fund managers with the registration and placement of private and public funds in the Chilean market. Among the group’s several active advisers, Jorge Delpiano assists banks and financial institutions with ongoing capital markets issues; Pedro Pellegrini is a capital markets' transactional expert; Miguel Coddou advises on domestic debt offerings, international securities issuances and senior guaranteed notes, along with capital markets regulatory work; and Pedro Lyon is a specialist in assisting foreign investors with trading in local securities. César Gálvez, who was raised to the partnership in early 2022; senior associate Sebastián Marambio and associate Diego Rodríguez also all advise on capital markets matters.

Practice head(s):

Jorge Delpiano; César Gálvez; Pedro Pellegrini; Pedro Lyon

Key clients

IDB Investment

Natixis, New York Branch

Cristalerías Toro



Empresas Carozzi


Kenbourne Invest

Caja de Compensación de Asignación Familiar de Los Andes



Telefónica Group

Work highlights

  • Advised IDB Invest on the capital markets angle of a $1.85bn stabilisation fund for regulated energy clients.
  • Advised Natixis, New York Branch, on an international $360m US private placement (USPP) to refinance Carbon Free Technology’s photovoltaic portfolio in Chile.
  • Assisted Telefónica Chile with a capital increase for $258m, along with the registration of new shares with the Financial Market Commission.

HD Legal

Known as Honorato | Delaveau until its 2023 rebrand, HD Legal‘s seven-strong capital markets practice advises on public and private equities’ offering, commercial paper, fund units, and corporate and securitised bonds. The ‘multi-service, dynamic and technological‘ firm also fields experts in the creation of investment vehicles and securities; registering equity and debt instruments; advising on stock market relations; and reporting obligations for publicly-listed securities issuers and private securities placements. The group is led by longstanding capital markets expert Sebastián Delpiano; and Matías Langevin, who is experienced in assisting underwriters and issuers with international capital markets transactions. The track record of securities law director Carlos Frias includes in-house counsel stints at banking and multilateral financial institutions in Chile and the US; and at senior associate level, Nicolás Garcia advises fund managers on the incorporation of investment funds. Former partner Felipe Divin departed the firm in September 2022, as did senior associate Andrea Alarcón in October 2023.

Practice head(s):

Sebastián Delpiano


A very well-disposed 24/7 team that is always ready and willing to answer calls and resolve doubts – without doubt a team of excellence.

HD stands above other law firms for its high levels of specialisation and the multidisciplinary team that makes up its capital markets practice.

Recognised for understanding the requirements of the dynamic financial and capital markets industry, always providing timely and high-quality advice.

A team that is capable of delivering creative, innovative solutions with legal sophistication, which allows clients to make better and far-sighted decisions.

HD is a multi-service, dynamic and technological team that is constantly aware of the latest legal trends.

The main characteristics are the quality of the advice and the speed of the results.

An office that has evolved very positively, applying the necessary changes and practices that suit clients.

The outstanding lawyers are Sebastián Delpiano, Nicolás Garcia and Andrea Alarcón.

Key clients

Sura Corredores de Bolsa

Chilena Consolidada

Ameris Capital

Banchile Inversiones

Capital Advisors

Credit Suisse







Paragon Advisors

Primus Capital



Sartor Financial Group







Stone Harbor




The Vanguard

Columbia Threadneedle Investment


Open Trading

Regum Capital


Goldman Sachs

Jeeves Inc


Santander Asset Management (Administradora General de Fondos)

Julius Baer

BNP Paribas

Caja los Andes

Singular AGF

Work highlights

  • Advised Nevasa Corredores de Bolsa on its IPO (pursuant to new regulations for start-up companies).
  • Assisted Primus Capital with issuing short-term securities.
  • Assisted several clients with their registration processes at the Financial Market Commission as investment advisers.

Prieto Abogados

The ‘very committed‘ six-member capital markets practice at full-service law firm Prieto Abogados has a strong market reputation for debt placements in both Chile and the US. Recent work has also focused on large numbers of bond issues. Other notable areas for the team are major IPOs and public acquisition tender offers (both at domestic and cross-border levels). Of additional note, the firm houses a robust investment funds practice. The team is jointly led by Patricio Prieto L, whose recent experience includes advising on companies’ bond issues; and recently-promoted partner Isabel Wolleter, a specialist in bond issuances and public offering processes. The next line of key advisers features investment funds counsel Maite Larrañaga and active associate José Pedro Poblete.

Practice head(s):

Patricio Prieto; Isabel Wolleter


Very committed to details and always available.

Key clients


Larrain Vial Activos (Administradora General de Fondos)

Caja de Compensación y Asignación Familiar Los Andes

Cementos Polpaico

Sociedad Concesionaria Vespucio Norte Express


Empresas Red Salud

Aguas Andinas



Work highlights

  • Advised Sociedad Concesionaria Vespucio Norte Express (and its shareholder BAIH) on the tender offer of AVN’s notes and BAIH’s notes.
  • Advised Salfacorp on the registration process of a capital increase, which involved the issuance of 100m shares.
  • Advised Aguas Andinas (as local deal counsel) on its Rule 144A/Reg.S notes issuance.

Ried Fabres

The seven-member capital markets team at Ried Fabres advises on significant deals involving alternative assets, securitisations, tender offers, debt securities, equity transactions, and bond issuances. Clients also turn to the ‘highly competent‘ team for additional capital markets matters, such as regulatory-related reports, derivatives trading, portfolio management, and investment and mutual funds. The firm additionally houses experts in capital markets-related white-collar litigation. The practice is co-led by securitisation expert Cristián Fabres, and José Miguel Ried, who advises stockbrokers, dealers and foreign fund managers on capital markets regulations. The group also includes derivatives head and bond offering expert Ricardo Abogabir; and recently-promoted partner Jaime Hirschberg, who assists with private company IPOs, and the registration and placement of bonds. At associate level, Ariadna Beroiz advises on funds work. Luz María Waidele departed the firm in December 2022.

Practice head(s):

José Miguel Ried; Cristián Fabres


A highly competent capital markets team.

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

The team is made up of partners and senior lawyers who have always given concrete and correct responses during complicated matters.

Key clients

BCI Group

Larraín Vial

BICE Asset Management

Empresa de Transporte de Pasajeros Metro

Zurich Group



BTG Pactual


Tanner Group

Deutsche Bank

Ameris Capital

Credicorp Capital

Banco Santander



Falcom Capital



Bice Vida


MBI Asset Management

Work highlights

  • Advised BlackRock on the registration process of over 50 foreign funds with the Chilean Commission for the Financial Market.
  • Advised BCI on the creation of investment funds that serve as feeder funds of foreign partnerships.
  • Advised BCI Securitizadora on the issuance of securitised bonds with underlying assets (retail vouchers).

Bofill Mir Abogados

Emerging from the dissolution of Bofill, Mir & Álvarez Jana during 2022, Bofill Mir Abogados houses a 12-strong department that is experienced in both equity and debt capital markets matters (both at domestic and international levels). Its specialisms comprise IPOs and secondary offerings, bond and share issuances, Rule 144A/Reg.S financings, and securitisation work. The team is co-led by founding partner Octavio Bofill, whose recent workload includes advising bondholder groups on their rights during company reorganisations (including Chapter 11 processes), and assisting with the purchase and issuance of bonds; bond issue expert Rodrigo Saffirio; and Ana María Yuri, whose broad transactional practice includes capital markets’ matters. Senior associate Gonzalo Barceló is experienced in debt issuances and securitisations. Since publication, the practice has been strengthened further with the return of Andrea Alarcón as associate practice director - effective as of October 2023.

Practice head(s):

Octavio Bofill; Rodrigo Saffirio; Ana María Yuri


‘The team is highly professional and committed to the legal advice it provides.’

‘Always willing to keep clients updated on the rules.’

‘Frequent and permanent contact throughout the process. Communication through different channels (telephone, WhatsApp, emails) to resolve the doubts that arise very quickly, and to make the decisions that must be made in a more than timely manner.’

Key clients

LATAM ad hoc bondholders

Vivocorp ad hoc bondholders

Club de Campo Granadilla

EF Securitizadora


Work highlights

  • Advised EF Securitizadora on the structuring, registration and placement of Empresas Iansa’s $35m securitised bond issuance.
  • Advised BK on its registration before Chile’s Financial Market Authority.
  • Advised the LATAM Airlines ad hoc bondholders on LATAM Airlines’ insolvency procedure.

DLA Piper Chile

DLA Piper Chile's experienced capital markets' practice routinely advises on placements, securities issuances, IPOs and capital increases. The team also houses specialists in stock options, bonds, credit line registrations, and American depositary receipts. Additionally, clients benefit notably from the Santiago office’s access to the wide-ranging resources of the firm’s enviable global platform. The principal figures are longstanding capital markets and securities specialist Diego Noguera and Matías Zegers, who contributes solid investment funds' experience to the group. The next line of advisers includes former capital markets adviser to the Minister of Finance, Jorge Timmermann (at partner level since early 2021).

Practice head(s):

Diego Noguera; Jorge Timmermann

Key clients

Bupa Chile


Andes STR


Administradora Fen Ventures II

Fondo de Inversión Privado Vulcano – Administradora Dadneo II

Work highlights

  • Advised Bupa Chile on the early redemption of all outstanding Series A local bonds issued by the company under securitisation debt titles.
  • Advised Quiñenco on the registration of the issuance of a new series of bonds.
  • Advised Andes STR on structuring and incorporating a real estate investment-related investment fund.

Baker McKenzie Chile

Acting for financial institutions, issuers, managers and other capital markets-related providers, Baker McKenzie Chile's seven-member capital markets department is experienced in tender offer mandates, corporate debt placements and securitisations. It also regularly assists with the regulatory aspects of Chilean securities. The team is jointly led by securities law expert Fernando Castro and Jaime Munro, whose transactional workload encompasses capital markets matters. The practice of associate to note Cristóbal Larrain includes experience in tender offers.

Practice head(s):

Fernando Castro; Jaime Munro

Key clients

Grupo Security

Viña Concha y Toro

Securitizadora Security

Administradora General de Fondos Security


Credicorp Capital Asset Management

Banco Security

Seguros Vida Security Previsión

StepStone Group

Desarrollo Eléctrico Suria

Grupo Vía Central

Work highlights

  • Advised the consortium Grupo Vía Central (comprising Sacyr, NGE, Saceem and Berkes) on the refinancing and additional financing for the construction of Uruguay’s Ferrocarril Central project, which consisted of a senior facility through a fixed rate B-bond private placement.
  • Advised Grupo Security on amending the financial covenants affecting five separate lines of corporate bonds that were already registered with the Chilean Commission for the Financial Market.
  • Advised Factoring Security on the issuance of a 10-year line of corporate bonds for approximately $970m, and the subsequent issuance and registration of bonds Series I, J, K and L against such line.

CMS Carey & Allende

CMS Carey & Allende -the Santiago office of the UK-headquartered international firm- regularly handles capital increases and bond issuances, along with tender offers – particularly for technology, gaming and fishing industry companies. It is also experienced in regulatory compliance, IPOs and follow-on offerings. Other notable areas include the financing of expansions through the capital markets, and cross-border transactions involving debt securities and green bond issuances. Department head Jorge Allende D advises fund managers, securities intermediaries and companies on financings through bonds and stock; fellow partner Fernando De Cárcer acts on the issuance, registration and placement of securities; and senior associate Enrique Vergara advises on corporate bonds.

Practice head(s):

Jorge Allende D

Key clients

Nueva Inversiones Pacifico Sur


Sun International


Sun Dreams


Blackstone Infrastructure Partners

Morgan Stanley

Zurcher Kantonalbank

Ardian Chile


Work highlights

  • Advised Morgan Stanley on capital markets regulations in Chile, in relation to the public offering of securities.
  • Advised Dreams on the capital markets-related filings and authorisation from the CMF for the purpose of authorising the merger of Dreams into Enjoy.

Urenda, Rencoret, Orrego y Dörr

The eight-strong team at Urenda, Rencoret, Orrego y Dörr houses specialists in both equity and debt markets' work. Its expertise covers IPOs, debt certificate issuances and public tender offers. The group also advises publicly-held corporations and brokers on their interactions with the Securities Agency and the stock markets. The department is jointly led by securities specialist Felipe Rencoret, and Sergio Orrego, whose track record includes IPOs and tender offers. Gonzalo Rencoret and Nicholas Mocarquer are also active capital markets partners, while associate Isidora Zañartu assists with securities-related work.

Practice head(s):

Felipe Rencoret; Sergio Orrego

Key clients

Cemento Polpaico



Sociedad Pesquera Coloso

Echeverria, Izquierdo

Minera Escondida



London Stock Exchange Group


Yamana Gold

Work highlights

  • Providing ongoing assistance to Echeverría Izquierdo with capital markets’ matters.
  • Advised Yamana Gold on the Chilean legal aspects of a transaction involving Gold Fields’ acquisition of the outstanding common shares of Yamana.
  • Advising Sociedad Pesquera Coloso on its dissolution and liquidation process.