Characterised by its ‘knowledge, availabilty and professionalism’, Creel, García-Cuéllar, Aiza y Enríquez, S.C. is undoubtedly a key player in the Mexican market. Its ‘pro-business’ finance practice is composed of six partners, two counsels and 33 associates, and is adept at handling the range of banking and finance matters, including structured and DIP financings, cross-border and local single bank and syndicated loans, acquisition finance, and both secured and unsecured financings. Its stellar client roster is comprised of high-profile local and international banks, funds, insurance companies and non-bank financial institutions, which it advises both as lenders and borrowers. Senior partner Carlo Aiza, who has a strong track record in finance and asset securitization transactions, heads up the practice. The ‘well-coordinated’ and ‘highly technical’ team of partners is further made up of: Giovanni Ramírez Garrido, whose practice has an emphasis on acquisition and structured finance, as well as asset-backed and real estate financing; and the ‘excellent’ Pedro Velasco, who assists domestic and foreign financial institutions and corporate borrowers (from across a range of industries) with secured and unsecured financings; along with Rodrigo Castelazo (capital markets and structured finance transactions); Alejandro Isaac (commercial, acquisition, real estate financings, infrastructure and project financings); and Emilio Aarún, a partner since January 2022 (banking, finance, bankruptcy and restructuring transactions). Eduardo Flores left the firm in July 2022.

Local and international lender and borrower clients entrust the ‘leading’ practice at Galicia Abogados S.C. with a host of banking and finance-related matters, including cross-border syndicated transactions, acquisition finance, sub-sovereign financing, real estate financings and regulatory work. The group operates from offices in both Mexico City and Monterrey, and counsels big-name banks and lenders, including Barclays, Bank of America and JP Morgan; in addition, corporations from industries such as food & beverages, energy, transportation and real estate regularly feature on its client roster. Team members are lauded for their ability to ‘adapt to the needs of the client’, and for their ‘outstanding communication and knowledge’ of the sphere. An experienced trio co-lead the practice: Arturo Perdomo combines great experience in traditional transactional and regulatory work with fintech expertise; Guillermo Pérez Santiago (‘business oriented, proactive and up to date’), specialises in finance and capital markets; and insurance practice head Humberto Pérez Rocha. In the Monterrey office, Rosemarie McLaren specialises in local and cross-border, bilateral and syndicated loans; while Rodrigo Rivera deals with corporate, real estate and project financing. Senior associate Lili Abascal handles public financing matters.

Greenberg Traurig, S.C. continues to operate in the upper tier of the market, offering a ‘top-quality service’ to domestic and international clients in transactions across a diverse range of sectors, notaby finance and construction. The firm advises a significant number of major Mexican banks and infrastructure companies, with a good mix of both lender and borrower representations in the private and public sectors, in addition to municipal governments in Mexico. Several of the department’s lawyers are dual-qualified in Mexico and the United States, making it well placed to advise on international transactions. José Raz Guzmán co-leads the team, working with issuers, underwriters and investors on public and private equity offerings – he is highlighted as having an ‘outstanding knowledge of the market’; at his side, Juan Manuel González specialises in project finance transactions. Completing the leadership trio, Rodrigo Orozco Waters advises on foreign investment transactions in the infrastructure, energy, manufacturing, financial, and commercial sectors. Miguel Moisés represents lenders and borrowers in structured financings, bilateral and syndicated loans, as well as handling the financing of industrial, commercial and residential real estate projects; José Antonio Butrón Quintero and of counsel Gabriela Palomino are additional names to note. Senior associates Ana Acosta and ‘excellent’ David Argueta support on financing transactions and capital markets' matters.

The practice at Mijares, Angoitia, Cortés y Fuentes S.C. is a prominent player in the Mexican banking and finance sphere, and ‘solves complex problems quickly and simply’, according to clients. It offers counsel on the full range of domestic and international financial transactions, with particular emphasis on syndicated loans and project, leveraged, asset and real estate finance. Its expertise also encompasses regulatory advice and fintech matters, and the team of ‘true experts’ regularly represents corporations from the infrastructure and real estate sectors, in addition to banks and non-bank financial entities. A team of nine partners front the group: Ricardo Maldonado handles infrastructure projects and represents issuers in public and private debt and equity offerings; and Patricio Trad and Manuel Echave deal with banking, corporate finance and capital markets' matters. Francisco Ibáñez (banking and finance, M&A, capital markets); Martín Sánchez (M&A, corporate finance, capital markets); Ignacio Armida (infrastructure financing and M&A); Patrick Meshoulam (equity, debt and structured securities offerings, financings); and Carlos Jiménez Cantú (public and private, debt and capital offerings; syndicated loans and project finance);  along with founding partner Pablo Mijares, complete the leadership team. Former partner Pilar Mata retired in April 2022.

Nader, Hayaux y Goebel, SC houses a strong banking and finance practice that is counsel of choice for a host of global banks, financial institutions and corporate clients, among them HSBC, BBVA, Barclays, Scotiabank and Prudential. In addition, public bodies Banobras and Pemex seek out the team for its ‘solid technical knowledge’. The group advises on the gamut of banking and finance matters, including structured finance and securitisation deals, corporate lending, real estate finance and project financing. Clients are impressed with the team’s ability to ‘close deals in record time and to an extraordinarily high standard’, as well as its ‘culture and values’. Michell Nader, a market leader in Mexican banking and finance law, steers the practice. Julián Garza has strong background is in banking law and regulatory matters; Hans Goebel’s practice takes in complex structured and secured finance deals, security issuances and real estate finance; Javier Arreola focuses on project finance and asset-based financing matters; Eduardo Villanueva -who specialises in real estate finance- is praised for his negotiating skills; London-office head Yves Hayaux-du-Tilly undertakes with banking and banking regulatory matters as part of his broader insurance practice. Federico Vergara, of counsel since March 2022, supports the partners on cross-border structured financings, asset-based lending and corporate finance work.

With a practice group 17-partners strong, Ritch, Mueller y Nicolau, S.C. advises an impressive range of local and international banks and underwriters, issuers, private equity firms and multilaterals on all types of financing and collateral agreements. Clients value its ‘great experience in complex and sophisticated transactions’, and skill in ‘banking, finance and regulatory work in all their expressions’. An experienced pair leads the group with both garnering praise for being highly involved in cases: Jean Paul Farah Chajín, who advises on financings and refinancings; and Pablo Perezalonso Eguía, who works on international banking and securities transactions, and regulatory matters. Luis A Nicolau Gutiérrez and Gabriel del Valle Mendiola assist with banking, finance, capital markets and restructuring work; and Gabriel Robles advises financial institutions, public companies and private equity funds, with a special focus on capital markets. Senior associate Daniela Solis specialises in energy and infrastructure development and project finance, and associate Salvador Torres provides key support.

The banking and finance practice at Gonzalez Calvillo excels at commercial lending, acquisition financing, project finance and regulatory banking work, regularly advising fintechs, domestic and international banks, and investment funds. Recent work highlights include advising Grupo Crédito Maestro on a $65m financing granted by Banorte; and assisting Banco Bradesco with the purchase of shares issued by Ictineo Plataforma, a popular financing entity. The team is led by four partners: José Victor Torres Gómez has vast experience as lead counsel in complex cross-border transactions; Bernardo Reyes Retana K specialises in both private and public offerings of securities, advising issuers, investors, underwriters, and credit agencies; José Ignacio Rivero Andere is experienced at working with non-bank financial institutions; and Daniel Guaida advises on fintech and regulatory technology matters. Senior associate Jacinto Avalos provides key support. Former partners Juan Manuel Sancho Rodrigo and Jaime Cortés left the firm in December 2021 and January 2022 respectively. Since publication, both Torres Gómez and Guaida have left the firm (effective April 2024), subsequent to which the firm has announced an agreement to merge into Spain's Pérez-Llorca.

The ‘highly skilled’ team at the Mexico office at multinational US firm Jones Day is praised for offering ‘the same high quality service as other leading firms’ with ‘an excellent professional manner to match’. The practice handles all commercial banking matters, representing both lenders and borrowers, and advises on asset-based lending and cross-border investments; its client list includes notable local and international banks. The team is co-led by Manuel Romano, who is experienced in complex leveraged financing transactions and the financing of infrastructure and real estate projects; and Alberto De La Parra, who handles project finance, syndicated loans, secured financings and refinancing transactions, and is identified as standing out for his ‘extensive knowledge of the sector’. Jose Manuel Carrillo and Diego Noriega are the names to note at associate level.

Santamarina y Steta excels at representing development financing institutions, including local banks, international and multilateral institutions, as both lenders and borrowers; it also has expertise in financial workouts. Its active Monterrey office is regularly instructed by high-profile borrower clients in the northeast of the country and complements the ‘responsive’ team led by Juan Carlos Machorro from Mexico City; he has extensive experience in investment and manufacturing projects. Sergio Chagoya represents lenders, sponsors and borrowers in a range of financial transactions including public offerings, securitisations and privatisations; ‘exceptional lawyer’ Ricardo Orea advises banks and other financiers on energy, transport and asset-backed financing transactions; and Diego Ostos provides counsel on debt issuances and cross-border financial transactions. Of counsel Margarita Casarin - who works on syndicated and structured finance, project finance and infrastructure projects - is an additional name to note.

As well as representing leading domestic and global financial institutions and corporations as both lenders and borrowers in loan transactions and infrastructure financings, the practice group at White & Case S.C. provides regulatory banking counsel. The team is highlighted as being ‘a step ahead of their counterparts’ and garners praise for its ‘knowledge, skill, teamwork and communication’. Juan Antonio Martín singlehandedly leads the practice, and specialises in syndicated loans and asset-backed financings. Maria Teresa Fernández-Labardini provides strategic and legal counsel on a broad range of finance matters, including requests for authorisations and loan restructurings; advising primarily on financial regulatory matters, Andrés Mosqueira has a particular focus on asset management, pension funds and securities regulatory matters; Carlos Mainero also handles financial regulatory matters, along with bank and debt finance. The practice was strengthened by the arrival of partners Eduardo Flores Herrera and Narciso Campos in July and August 2023, respectively; the latter garners praise for his ‘skillful handling and closing of deals’. Fernando Vázquez-Chelius and Rebeca García López were promoted to the partnership in January 2023; and former partner Manuel Groenewold left the firm in December 2022.

The compact team at Chávez Vargas Minutti Abogados takes care of the structuring of all types of financing arrangements, including the private securitisation of assets and the refinancing of liabilities. It acts on behalf of credit agencies, private companies and financial institutions as both borrowers and lenders. Practice co-head José Antonio Chávez has notable experience advising states and municipalities on sub-sovereign financings, as well as handling both domestic and cross-border securitisations backed by future assets or cash flows; alongside him, Alejandro Carreño primarily advises financial institutions and specialises in real estate finance and the planning of corporate structures. Senior associate Cynthia Ibarra negotiates financings and the structuring of guarantees. Associate Diego Medina offers key support on syndicated loans and structured credit transactions.

The 15-strong team at Spanish firm Garrigues’ Mexico office specialises in project financing, structured financing and commercial bank lending, and has additional experience across a diverse range of financing matters; it can also leverage the firm’s international presence to handle complex cross-border transactions. The practice is led by Mario Juárez, who has long-standing experience in project finance and infrastructure projects. Gabriela Pérez Sierra has substantial expertise in M&A and financings for energy and infrastructure projects, while Leopoldo Fragoso works on securities and asset financing transactions; senior associate Carlos Eduardo Gómez supports the partners on key matters. The group was notably strengthened with the March 2023 hire of veteran banking, finance and capital markets’ specialist, Manuel Groenewold – formerly of White & Case S.C.

The banking and finance practice group at Hogan Lovells advises clients from offices in Mexico City and Monterrey, and has a track record representing both lender and borrower clients, among them major international banks Banco Santander and BNP Paribas. In addition, its regular clients include fintechs and alternative lenders such as funds and SOFOMs. Close cooperation with the firm’s bankruptcy, restructuring and litigation teams, as well as with its many international offices, facilitates its effective handling of complex cross-border cases. Recent work highlight include advising IDB Invest on a $300m financing for the expansion of Peru’s largest wind farm, and advising Fideicomiso para el Desarrollo Verde y Económico de Monterrey on promoting ESG commitments for the city. The practice is co-led by financial transactions and M&A specialist Federico de Noriega Olea, in Mexico City; and René Arce in Monterrey, who advises on structured and project financing operations. Additional expertise is provided by of counsel Aldonza Sakar, who has particular strength in cross-border and project financing, as well as additional expertise regarding asset-backed loans; and Ana Catalina Decanini, who joined the team as counsel in July 2022.

Under the leadership of domestic, cross-border and project financings expert Alejandro Landa, the banking and finance practice at Holland & Knight advises international banks on the negotiation, structuring and restructuring of financing terms, including the design and structuring of collateral packages and source-of-payment structures. A 2021 merger with US firm Thompson and Knight boosted the practice’s strength in cross-border financings, real estate and oil-and-gas; the team demonstrates further growth with the additions of associates Santiago Noriega and Paulina López Velasco in May and September 2022, respectively, along with senior counsel Elena Ibarrola in March 2022. Alejandro F Sánchez Mújica advises on structured, asset-backed, real estate and corporate financing from the Monterrey office; while in Mexico City, Aldo Gonzalez Melo -who was promoted to senior counsel in April 2023- is active on cross-border corporate, structured and project finance transactions.

The key strengths of the banking and finance practice at Kuri Breña, Sánchez Ugarte y Aznar lie in structured and asset-backed financing, project finance and real estate financing. The nine partner-strong team has additional expertise in representing Mexico’s development banks. Four partners head up the practice group: Guillermo Garay specialises in public and private biddings, cross-border financings and securitisations; Rodrigo López Márquez contributes expertise in financings, financial regulation and fintech; Alejandro Sobarzo Hadad is skilled at the issuance and placement of equity and debt instruments for companies through the Mexican stock exchange; and Álvaro Sarmiento Lapiedra focuses on structured financing. Bernardo Luna Gutiérrez and founding partner Daniel Kuri Breña, along with key associates Silvia Roldán and Alfonso Alfaro Rincón Gallardo, are additional names to note. Since publication, Sarmiento has left the firm (effective as of January 2024).

Lauded for having ‘a deep knowledge of Mexican structured finance law’, the close-knit team at Mayer Brown Mexico, S.C. stands out for across-the-board skill in the representation of lenders, borrowers and private-credit lending funds. Notable clients include international financial institutions Goldman Sachs, Scotiabank and Sumitomo Mitsui Banking Corporation. The practice is co-led by three partners: Raúl Fernández-Briseño focuses on structured finance; Ariel Ramos specialises in projects and energy finance; and Francisco García-Naranjo is skilled at obtaining regulatory authorisations for the establishment of financial institutions. Other key names include senior counsel Jan Boker and senior associate Javier Garibay; clients also note ‘very strong expertise even from junior members’ of the team. Of counsel Jorge Escalante joined the practice from Creel, García-Cuéllar, Aiza y Enríquez, S.C. in October 2022, while associates Pablo Solórzano and Romina Fernández Flores departed in July and November 2022, respectively.

The team at client-focused full-service Von Wobeser y Sierra, SC advises clients on traditional banking matters and sophisticated credit and financing transactions, and additionally demonstrates particular strength in fintech. Recent work highlights include advising Fairplay (a company providing e-commerce startups with early financing), on negotiating a credit facility for up to $100m. Practice co-head Luis Burgueño specialises in complex cross-border transactions - including private and public M&A, and joint-ventures; while fellow co-lead Alberto Córdoba primarily represents borrowers and issuers in loan transactions and debt issuances. Alejandro Orellana, counsels Gloria Martínez and Javier Betancourt, along with senior associate Jaime Ostos are additional names to note. Since publication, Betancourt has been raised to the partnership - effective as of January 2024.

The team at Baker McKenzie Abogados, S.C. advises a cohort of major local and international financial institutions -as lenders, borrowers, arrangers and guarantors- on major cross-border deals. The practice has a strong background in fintech transactions, and counts major payment processors Stripe and Adyen among its clients. With five Mexican offices (CDMX, Ciudad Juárez, Monterrey, Guadalajara and Tijuana), the firm has a strong presence in strategic locations in the north of the country. In addition, close collaboration with its ten offices in the United States furthers its cross-border capabilities. Partners Lorenzo Ruiz de Velasco and Gaspar Gutiérrez Centeno  handle banking and finance matters, and co-lead the team; with additional partner-level input from Daniel Sánchez Morales and Alfonso Martínez-Bejarano ‘an expert in the fintech world’. Senior associate Michelle Pfeffer works from the Monterrey office and specialises in lending, project finance, credit transactions and financial regulatory issues; associate Ruth Barbachano left the practice in October 2022.

Recognised for being ‘dedicated to its work and always eager to help’, the team at CMS Woodhouse Lorente Ludlow is known for both its lender and borrower-side capabilities, representing major banks and construction firms (among others), as well as advising on acquisition and leveraged finance and syndicated lending transactions. Practice head Raul Zepeda’s experience encompasses a wide range of transactional and regulatory banking and finance work; Enrique Lorente Ludlow majors on project finance; corporate and project finance specialist Cesar Lechuga Perezanta is ‘committed’ and has an ‘ever-pleasant disposition’; Eduardo Saldaña and Alejandro Perera are the names to note at associate level.

Cuatrecasas advises on the full spectrum of financial transactions, with particular strength with regards to corporate finance, structured transactions, and project and infrastructure finance, and counts major banks and insurance companies among its clients. The firm fortified its position in the Mexican market with its January 2023 integration of the former Rico, Robles, Libenson, S.Cl firm, which has increased its capacity to deal with domestic transactional and regulatory matters, combining this expertise with its existing strength in cross-border matters. The firm’s recent standout work has included advising Hotel Excellence Riviera Cancún and the Riviera Nayarita One&Only Mandarina Hotel on the refinancing of their debts. Spain-qualified León López has over two decade's experience in banking matters and is well versed in the full range of financing transactions, he leads the team with Gustavo Robles -one of the group that joined the practice in January 2023- an additional name of note. Since research concluded the firm has further built out its capabilities with the hire of former Creel, García-Cuéllar, Aiza y Enríquez, S.C. associate, Gizeh Polo Ballinas, as a partner; tasked with developing the office’s capital markets capability, he arrived in October 2023. Since publication, the practice has been further strengthened with the February 2024 hire of Mariana Campos; with extensive in-house experience including Barclays Bank (Mexico), BIVA and JP Morgan, Campos is a 20-year veteran of  the banking and finance sector, also handling capital markets, financial regulatory matters and banking transactions.

The practice at Cuesta Campos y Asociados S.C. advises international financial institutions and corporations on asset-based lending matters, syndicated loans and secured credit transactions from its offices in Mexico City, Guadalajara and León. Team head Hugo Cuesta counsels multinationals on their legal and financial structures in Mexico and advises on public bidding processes with the Mexican government; alongside him, Azucena Marin advises companies in the automotive, manufacturing, financial, pharmaceutical and real estate sectors on asset-based lending and commercial agreements.

The Mexico City-based banking and finance practice at global firm DLA Piper Mexico is known for its handling of local and cross-border finance transactions including bilateral and syndicate financings, leveraged buyouts, refinancing and capitalisations, and asset-based loans. Domestic and international banks and SOFOMES feature heavily on its client roster. Practice co-head Diego Martinez, who is experienced in banking and securities financings, is hailed as ‘an expert in his field’; the ‘extraordinary’ Edgar Romo also co-leads, and focuses on transactional finance matters, namely those involving the energy and hospitality sectors. Roberto Ríos adds expertise in project financing and public works, and associates Melissa Martínez and Javier Pichardini provide additional support. Since publication, the practice has been notably strengthened with the January 2024 hire of Álvaro Sarmiento - formerly of Kuri Breña, Sánchez Ugarte y Aznar.

The banking and finance team at Bello, Gallardo, Bonequi y García, S.C., recognised by clients for its ‘strong technical skill’, advises domestic and international financial institutions and corporations on regulatory matters, primarily acting on the lender side. Founding partner Miguel Gallardo Guerra co-leads the practice and is described as a ‘very important asset’ because of his ‘strong knowledge in financial, banking and insurance matters’ and his diverse professional network; alongside him, Javier Pérez Moreno advises banks and fintechs on regulatory issues; and Juan Carlos Morales completes the leadership trio. Of counsel Alain Gerard Jaubert Luengas and senior associate Luz María Jover  joined the practice in August and November 2022, respectively. Since publication, the firm has further strengtehened the practice with the hire of Alejandro Stamoglou (from his own boutique) as a banking, finance and capital markets partner - effective as of November 2023.

The ‘solid and united’ team at Jáuregui y Del Valle, S.C. regularly handles securitisations, secured and project finance, loan transactions, real estate finance and regulatory matters for fintech companies and banks. Alberto Balderas, an expert in complex structured finance transactions and the issuance of high-value securities, is one of three practice heads; project finance specialist Fernando Alonso-de-Florida Rivero and corporate finance-focused Justo Fernandez del Valle also co-lead. The practice was recently strengthened with the arrival of senior associate Luis Rodolfo Flores in September 2022.

Pérez Correa González’s practice assists with financial regulatory matters, venture capital financing and credit facilities, and is regularly instructed by banks, investment funds, development agencies and non-bank financial institutions, as well as companies in the tech, energy and infrastructure sectors. Jorge Labastida co-leads the group and brings experience in asset-backed and structured finance to the table; alongside him, Fernando Eraña specialises in cross-border and venture capital finance. Eduardo Yrigoyen and Omar Sarabia are the names to note at associate level.

Operating from branches in Mexico City, Querétaro and Monterrey, Sánchez Devanny’s banking and finance practice advises banks, borrowers and investors on cross-border loans, financing, commercial banking and credit facilities. Three partners head up the practice: Ernesto Silvas-Medina – in Monterrey – has a background in corporate and project finance; Diego Gómez-Haro Katznelson focuses on real estate financing and leads from Querétaro; and José Berrueta Ochoa, who joined the team in June 2022, brings expertise in finance and capital markets to the Mexico City office. Former Monterrey-based senior associate Jaime Israel Moreno-Treviño left the firm in April 2023.

The expertise of the team at SMPS Legal lies in secured financings, the securitisation of assets and real estate finance. It also assists clients with the incorporation of private capital funds, and counts banks, financial institutions and property developers among its clients. Iván Pérez Correa steers the group and advises on debt, equity, asset-backed and structured securities offerings and tender offers, while Eduardo Pizarro specialises in real estate transactions.