Banking and finance in Peru

Estudio Echecopar member firm of Baker McKenzie International

Estudio Echecopar member firm of Baker McKenzie International is well-placed to handle top-tier transactions and complex regulatory matters, offering a range of expertise across its well-resourced team. The Lima office's  Pablo Berckholtz Velarde heads the international firm's global capital markets group, while Juan Carlos de los Heros is an established leading finance figure and 'problem solver', noted especially for his project finance skills. Other key partners include practice head Rafael Picasso Salinas, Marco Alarcón, who focuses on private and public securities issues and finance transactions, and Alonso Miranda Vargas, who led advice to Banco Santander, Coöperatieve Rabobank, MetLife and Scotiabank Perú as lenders in the provision of a $249m loan to Camposol. A large pool of associates include the very capable Luis Ernesto Marin, who is recommended for financial services regulations, corporate finance, derivatives and insurance.  

Practice head(s):

Rafael Picasso Salinas

Testimonials

Good team, sometimes very busy, but always ready to help.’

Marco Alarcón and Luis Marín are excellent professionals.’

Estudio Echecopar member firm of Baker McKenzie International successfully advised us on transactions in which State authorisations were required and in which foreign jurisdictions intervened. In this sense, their membership of an international network has allowed us to have other advisers recommended by them for cross-border transactions and they have demonstrated good teamwork, leading the negotiations.’

We have had the opportunity to work with Alonso Miranda Vargas, Marco Alarcón and Luis Marín, who stand out for their personalised attention, involvement in negotiations and mastery of issues, proposing efficient and competitive legal solutions. The proposals of Estudio Echecopar member firm of Baker McKenzie International are constantly improving, adapting to the guidelines of the service that our clients demand.’

The team is very comprehensive, with a lot of expertise in the different areas, which makes its legal advisory work very competent and very solid.’

Juan Carlos de los Heros is an available professional who always tries to provide options and solutions to the problems presented.’

Key clients

ICBC Peru Bank

Coöperatieve Rabobank

Credicorp Capital Servicios Financieros

Ergon Perú

Banco Santander Perú

IBT Group

Tienda Pago Perú

Scotiabank Perú

Banco Internacional del Perú

Agro Vision Peru

Work highlights

  • Acted for Banco Santander, Coöperatieve Rabobank, MetLife and Scotiabank Perú as lenders in an additional $49m loan to Camposol, bringing the total credit to $249m.    
  • Advised Aleatica, sponsor of the North Highway, on a $220m syndicated loan led by SMBC and Banco de Credito del Peru to refinance outstanding debt and fund additional works of the toll road concession.  
  • Acted for Inversiones Centenario in obtaining a $150m loan from Scotiabank Perú, Itaú Corpbanca (New York Branch) and Banco Internacional del Perú, as lenders, and Scotiabank Perú  as administrative agent.
  • Represented Interbank in the provision of a $40m loan granted to Unión Andina de Cementos  (UNACEM).
  • Acted for Ergon Perú on a $21m credit agreement as part of its  $222m private placement, on which the firm also advised.

Garrigues

Garrigues is favoured by international and domestic banks as well as large companies for complex, cross-border and high-value transactions, fielding an internationally-experienced and ambitious team led by widely-respected Oscar Arrús. The practice shines for its 'sophisticated, efficient and high-impact’ solutions, while a varied deal list demonstrates versatility across a range of finance structures alongside banking regulatory advice, acting for an array of domestic and international banks, including Bank of America and Citibank. The promotion of Diego Harman to partner in 2020 raises the partnership team to five, which also includes Sergio Amiel and Thomas Thorndike, both singled out for their transactional expertise, and project finance and corporate transaction specialist, José Francisco Meier. Jorge Fuentes is among a number of skilled associates and played a role in mulitple key deals last year, such as advising Bank of Nova Scotia, Citibank and Bank of America as lenders of a $500m loan to Alicorp to finance its acquistion of Intradevco.

Practice head(s):

Oscar Arrús

Testimonials

The team members are highly experienced and have solid knowledge of the practice. Their skills are unquestionable and they propose very fast, high-impact and accurate solutions. Compared to other offices, their solutions are  sophisticated and efficient’.

Thomas Thorndike is a very experienced lawyer who proposes suitable solutions and strategies, as well as ways to approach different issues that arise. Sergio Amiel has a lot of experience and handles topics with an indisputable efficiency. This provides peace of mind for clients (as well as  recommendations and advice that are very successful).’

Key clients

Bank of America

Citibank

Banco Santander

Banco de Crédito del Perú (BCP)

Interbank

Scotiabank

Itaú Corpbanca

Metro de Lima Línea 2

BTG Pactual

Corporación Andina de Fomento (CAF)

Work highlights

  • Acted for Bank of Nova Scotia, Citibank and Bank of America as lenders of a $500m loan to Alicorp to finance its acquistion of Intradevco.    
  • Advised Empresa Siderúgica del Perú as co-borrower, alongside parent company Gerdau and other subsidiaries, in a $1bn senior unsecured global working capital credit agreement with a syndicate of international banks and financial institutions.
  • Acted for Credit Suisse, JP Morgan Chase and Bank of Nova Scotia as lenders on the Peruvian aspects of $200m debt refinancing for Nautilus Energy Partners.
  • Continued to advise Metro de Lima Línea 2 on its $150m revolving credit facility provided by Santander, BBVA and Sabadell banks for the construction of the Lima Metro Line 2 project.
  • Advised Bank of Nova Scotia and Sumitomo Mitsui Banking Corporation on a $330m loan facility for Samay I to prepay outstanding long-term project financing debt with other international banks.

Miranda & Amado

Miranda & Amado truly excels in this arena, its nine-partner team and bench of experienced associates one of the largest in the market. Regularly working alongside top-tier law firms and banks on international deals, it offers expertise across all categories of finance transactions and regulatory issues. Representative deals included acting for a syndicate of banks, including Banco de Credito del Pérú, Citigroup Global Markets, ING Capital and Credit Suisse, among others, on a $755m loan granted to Impala Terminals Perú, operator of the Callao port in Lima, a deal led by former government adviser Enrique Felices. Juan Luis Avendaño Cisneros and Rafael Corzo are both market leading individuals; José Miguel Puiggros heads the practice and many headline deals; Gabriela Dañino was promoted to partner in January 2020; and Álvaro Del Valle is an associate to watch.

Practice head(s):

José Miguel Puiggros

Testimonials

The firm is focused on detail and has a lot of experience.’

José Miguel Puiggros, Roberto MacLean, Juan Luis Avendaño Cisneros, Rafael Corzo, Gabriela Dañino and Álvaro Del Valle are recommended. They are easy to work with, they are very grounded and focused on detail. They indicate the position that they consider best.’

They have great knowledge of the industry and are always available to answer questions. Strong points are their attention to detail and consistency in their opinions.’

They stand out for the quality of the work product and absolute dedication. Definitely the team is on par with the few other Peruvian band one firms in the same category. Additionally, their familiarity with the customer’s business gives them a certain advantage by reducing learning hours or unnecessary reiterations.’

The team that worked with us was made up of Gabriela Dañino (partner) and Daniela Higuera (associate). Gabriela combines a solid experience in financing with a strong vocation for customer service. Communication with our team was constant. At all times we had the comfort that the transaction was being supervised by a senior attorney. Daniela, despite being a young associate, shows knowledge and ability. Clearly they are on the right track that will allow them to continue developing in the firm.’

 

Key clients

Grupo Crédito

BBVA Continental

Citibank

IFC

JP Morgan Chase

Banco Santander

CAF

HSBC

Bank of America

TIAA

Work highlights

  • Acted for a syndicate of banks, including Banco de Credito del Pérú, Citigroup Global Markets, Banco de Sabadell, ING Capital, The Bank of Nova Scotia, Credit Suisse and Banco International del Perú, on their $755m loan to logistics company Impala Terminals Perú, operator of the Callao port in Lima
  • Represented Natixis in connection with the renewal of a $455m syndicated facility granted to Trafigura Peru.
  • Acted for Samay I, subsidiary of client Kallpa Generación, on a $330m credit facility granted by The Bank of Nova Scotia and Sumitomo Mitsui Banking Corporation.
  • Advised Citibank Del Perú in its capacity as trustee and onshore security agent, in a $229m loan granted by Santander, BBVA Perú and Itaú Corpbanca New York Branch to Salaverry Terminal Internacional for the modernisation of Salaverry Port Terminal.
  • Represented DNB Bank and Coöperatieve Rabobank as arrangers and lenders, and Banco de Crédito Del Perú, Scotiabank Perú, Banco Internacional del Perú and Banco Santander Perú as lenders, in connection with a $137m syndicated credit facility in favour of Pesquera Diamante.

Payet, Rey, Cauvi, Pérez Abogados

Payet, Rey, Cauvi, Pérez Abogados is favoured for high-value or complex transactions across a range of specialist sectors, acting for both borrowers and lenders. Its client base is largely domestic, acting for the country's largest and most active banks, including Banco de Crédito del Perú, BBVA Banco Continental,  Scotiabank Perú and Interbank. Partner   is regarded as one of the most influential and expert corporate and finance lawyers in Peru, and has cultivated a strong team, co-led by José Cúneo; comprising eight partners, it includes Eduardo Vega, who is noted for his experience in investment funds, securitisation and mutual funds work. Giovanna  García was promoted to partner January 2020; and an extensive pool of associates includes , who is regularly included in the client teams for the firm's most prominent deals.

Key clients

Transportadora Callao

The Carlyle Group

Sierra Metals

Banco de Crédito del Perú

Scotiabank Perú

Interbank

BBVA Banco Continental

International Finance Corporation (IFC)

Work highlights

  • Acting for The Carlyle Group on its $33m financing, granted by Scotiabank Perú and Scotibank Colpatria, for the acquisition of amusement parks across Peru, Chile and Colombia.
  • Representing Banco de Crédito del Perú, Scotiabank Perú and BBVA Banco Continental in their $166m syndicated loan granted to Quimpac for the refinancing of existing debt.
  • Advising Sierra Metals and subsidiaries Dia Bras Mexicana and Dia Bras Perú as co-borrowers on its $100m financing granted by Banco de Crédito del Perú.
  • Acting for Transportadora Callao, concessionaire of the mineral concentrates shipping terminal at the port of Callao, on a $61m medium term loan granted by Banco de Crédito del Perú and Interbank for the refinancing of existing debt.
  • Advising Banco de Crédito del Perú on its provision of $161m financing in favour of Sociedad Minera el Brocal, comprising two tranches: a mortgage over mining concessions and a mortgage over the borrower’s real estate property.

Rodrigo, Elías & Medrano – Abogados

Rodrigo, Elías & Medrano – Abogados is the firm of choice for a significant market share of international financial institutions, domestic banks and large companies undertaking sophisticated and high-value transactions. It acted for Pan American Silver in its $500m financing granted by Bank of Nova Scotia, and is advising Standard Chartered Bank on its exit from the Peruvian market, both matters led by head of department Jean Paul Chabaneix, who is widely respected for his skill handling complex mandates. Strong support is provided by a large team of finance partners that grew to nine with the hire of capital markets specialist Nydia Guevara (from rival firm Miranda & Amado) and the promotion of Augusto Cáceres - although regulatory partner Gino Sangalli retired. Other names to note include Jorge Trelles, Juan Diego De Vinatea and Luis Enrique Palacios, while Nicolás Cornejo is a standout associate.

Practice head(s):

Jean Paul Chabaneix

Testimonials

They are very professional and diligent. They know perfectly the banking and financial legislation of Peru and provide excellent customer-oriented service.’

They are available at any time, are flexible and provide excellent service and advice geared to the needs of the client in each transaction.’

Key clients

Credicorp Capital

Banco de Crédito del Perú

BBVA Peru

Scotiabank Peru

HSBC Perú

Banco Sandander

Natixis

Compañia Minera Antamina

DNB Bank

Bank of Nova Scotia

Work highlights

  • Acted for Pan American Silver in its $500m financing granted by Bank of Nova Scotia.
  • Advised Impala Terminals on its $150m loan and $100m credit line provided by a syndicate of domestic and international banks.
  • Represented Fortress Credit Corp and Goldman Sachs Specialty Lending Group in a $125m financing for US-based gaming and lottery solutions company Win Advanced Systems.
  • Acted for Banco de Crédito del Perú in its provision of $100m financing for Canadian mining company Sierra Metals for the exploration and development of mining operations in Peru and Mexico.
  • Acted for Export Development Canada (EDC) in a $40m finance extension granted by Solutions 2 Go providing total finance of $125m.

Hernández & Cía. Abogados

Hernández & Cía. Abogados continues to gain traction in the market, winning a number of key mandates following competitive pitches, such as advising Bank of China on its $850m financing provided to China Three Gorges to acquire the Chaglla Hydroelectric Power Plant. The 'sophisticated’ and 'highly-trained’ team is led by pre-eminent Peruvian corporate and finance lawyer Juan Luis Hernández, who is 'outstanding’, and José Manuel Abastos, noted for his client management skills.  José Goyburu , who played a valuable support role in the Bank of China deal and indeed many of the firm's work highlights last year, was promoted to partner in 2020.

Testimonials

It is a very experienced team with a lot of knowledge of the local and international market. They are very dedicated, detailed and concerned with maximising the benefits of their clients.’

The team has a culture of customer service. They are sophisticated and capable of focusing on detail in complex operations. They are a reliable and highly-trained team.’

Juan Luis Hernández is an outstanding lawyer. He has a level of depth and clarity that are key to us when it comes to finding innovative solutions and managing complex situations.’

Their competitive advantage is their understanding of the needs and concerns of customers in order to find the best solution.’

I highlight the availability and customer service of José Manuel Abastos.’

The team has specialisms in particular areas, so they can provide accurate advice on these matters. Indeed, in tax matters, they stand out in relation to other firms.’

José Goyburu has a lot of experience in the fiduciary sector; it is easy to contact him and we receive an immediate response from him.’

Key clients

Bank of China

Interbank

Banco de Crédito del Perú

Credicorp Capital Servicios Financieros

Scotiabank

BBVA

Banco Santander

MetLife

Blackrock

Allianz Global Investment

Work highlights

  • Acted for Bank of China on the $850m finance provided to China Three Gorges for the acquisition of the Chaglla Hydroelectric Power Plant.
  • Advised natural gas distributor Contugas on its $355m syndicated loan provided by nine banks led by Mizuho Bank.
  • Represented Banco BBVA Peru in the provision of $40m financing in favour of Romero Group subsidiary Trabajos Marítimos  (Tramarsa), for diverse corporate purposes.
  • Providing regulatory advice to Fondo MIVIVIENDA, Peru’s state-owned finance entity for affordable housing.

Philippi Prietocarrizosa Ferrero DU & Uria

The Lima office of regional firm Philippi Prietocarrizosa Ferrero DU & Uria handles cross-border Latin America financings of the highest complexity, with stand-out capability in project financing and regulatory matters. Department head Ronald Fernández-Dávila is a leading practitioner, noted for his work representing local and foreign developers and operators in major road, railway and airport infrastructure projects, such as the Lima Metro expansion. The team also includes Ignacio López de Romaña, who led advice to Met Life on the $138m finance provided to Agrícola Andrea and Ozblu Perú, Agrovision Peru and Agro Industrial Paramonga; and Rafael Puiggros, who is recommended for capital markets and project finance. Former practice head Miguel Ronceros departed the firm in July 2019.  

Practice head(s):

Ronald Fernandez Davila

Testimonials

Their main strong point is their knowledge of our company and the regulatory framework.’

We would highlight their good response times and the consistency of their advice.’

Key clients

Metropolitan Life Insurance Company

Graña y Montero

Inter-American Investment Corporation (IIC)

Inter-American Development Bank (IDB)

Golder Associates

Enterra Holdings

BBVA Banco Continental

Continental Sociedad Titulizadora

Line One Peru Metro Expansion Company

Banco de Crédito del Peru

Mall Aventura

Scotiabank Perú

Grenergy Renovables

Orocom

Navent Group

PG Impact Investments

Grupo Lindcorp y Red Megacentro

Work highlights

  • Acted for Metropolitan Life Insurance Company as lender of secured finance to Agrícola Andrea and Ozblu Perú ($53m); Agrovision Peru ($45m); and Agro Industrial Paramonga ($40m).
  • Acted for Line One Peru Metro Expansion Company on its $300m project bond offering.
  • Advised Hochschild Group subsidiary Compañía Minera Ares on a high-value financing granted by BBVA Securities and The Bank of Nova Scotia.
  • Advised Scotiabank on a $91m loan granted in favour of Solgas, which will be used to repay their obligations to financial institutions and a bridge loan granted by Scotiabank.

Rebaza, Alcázar & De Las Casas

Rebaza, Alcázar & De Las Casas regularly earns a role in top-flight finance deals in the country and represents a balanced mix of borrowers and lenders, including major international banks. A reorganisation of the team in 2019 to sharpen the firm's focus in this area has paid dividends, earning mandates such as acting for Mizuho Bank, BBVA, HSBC, JP Morgan, Citibank and MUFG Bank on a  $300m revolving credit facility granted to Nexa Resources.  Five associates left the team in 2019 and five were hired, including experienced projects and corporate finance lawyer Ana María Sánchez from the New York office of DLA Piper LLP (US). The strong partner team includes Rafael Alcázar, a market leading regulatory specialist; co-practice head and managing partner Alberto Rebaza; and coporate finance specialists Luis Miguel Elías and Daniel Gonzales.

Practice head(s):

Rafael Alcázar; Alberto Rebaza

Testimonials

It is a team with very good training and preparation, with a great willingness to work, always taking a practical approach to problem solving and very good coordination between partners and associates.’

Strong points are their knowledge of the area, adequate response times and favourable opinions.’

Rebaza, Alcázar & De Las Casas has good business vision and knowledge of the area; associate Ana Paula Novoa has good customer service and knowledge of the area.’

As strengths I clearly identify the team’s disposition and commitment as they are always available to answer our questions, regardless if it is the weekend or holidays. They adapt to meet the highly complex deadlines without compromising quality and client service; they demonstrate a sophisticated, highly technical legal knowledge and moreover, excellent negotiation skills as well as soft skills to conduct the transaction in the best of our interests. Finally, precision in their answers and thoroughness in documents and communications makes us feel we are in really good hands.’

I have a long history working with partners Daniel Gonzáles and Alberto Rebaza and, last year, I had the opportunity to work a lot with a new associate at the firm, Ana María Sánchez. Alberto Rebaza and Daniel Gonzáles are both outstanding lawyers and having them at the forefront of our deals is the reason we keep trusting the firm with almost all of our mandates. Alberto Rebaza is great in complex transactions; he is for sure a ‘go-to’ lawyer for us; we seek his advice every time we face a complex situation. Working with Daniel Gonzáles is always a pleasure; he is excellent when facing difficult situations, conducting them with ease and strength at the same time. I emphasise his deep legal knowledge and negotiation skills. Ana María Sánchez is highly accurate and always available. She has outstanding client service abilities and she meets our deadlines no matter what. I believe it might be the firm’s signature as partners and associates, that they are always willing to go the extra mile for us.’

 

Key clients

Camposol

Agrícola Andrea

Ozblu Perú

Mizuho Bank

Inversiones Educa

Coöperatieve Rabobank

Instituto de Educación Superior Tecnológico Privado Toulousse Lautrec (TLS)

Desarrollo Educativo

Bank of Tokyo-Mitsubishi UFJ

Citibank

Banco Bilbao Viscaya Argentaria (BBVA)

HSBC

JP Morgan  Chase

Work highlights

  • Acted for BBVA and Banco Santander on a €285m facility granted to Digital Data Center Bidco (a vehicle owned by Asterion), for the acquisition of shareholdings in the subsidiaries of Telefónica in Spain and Brazil.
  • Advised Camposol on a $49m long-term facility granted by Scotiabank Peru, as new lender in an existing syndicate.
  • Advised a syndicate of international banks comprising Mizuho Bank, BBVA, HSBC, JP Morgan, Citibank and MUFG Bank, on a  $300m revolving credit facility granted to Luxembourg-based mining company Nexa Resources.
  • Acted for Agricola Andrea and Ozblu Perú, as borrowers, on a $53m long-term facility granted by Metropolitan Life Insurance Company.

CMS Grau

The 'pro-business’ and 'creative’ team at CMS Grau acts for international development banks, financial institutions and domestic and international companies on a range of finance deals, with specialist expertise in the mining, energy, infrastructure and real estate sectors. Experienced in a wide range of financial products and transactions, Diego Peschiera co-leads the practice alongside managing partner Juan Carlos Escudero V. Miguel Viale is widely praised by clients, who highlight his focus on achieving client objectives and his 'vast experience of financial operations’. Sergio Oquendo left the team in March 2020, returning to his former firm, Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados, to lead the practice there.

Testimonials

The CMS Grau team stands out because they are always pro-business, they do not neglect the interests of their clients, but they do try to find creative solutions to take the business forward. They are not a confrontational team and therefore it is easier to work with them.’

I work closely with Miguel Viale and Diego Peschiera. They have different styles but both are very good at driving the business. Miguel stands out in his general concern for the overall operation. He goes beyond simply reviewing the contract but is concerned with seeing that in effect, everything will work and the parties’ objectives are achieved.’

We have been working with the CMS Grau banking and finance team since 2015, when the financing of one of the most important infrastructure projects in Peru was being negotiated. Currently, the team advises us on the constitution of a very important trust with the Peruvian State. Their expertise in financial matters, added to their vision in corporate matters, means that clients receive complete advice on issues.’

Miguel Viale is the senior lawyer of CMS Grau who mainly interacts with us. He has vast experience in financial operations, particularly in trusts as well as in corporate matters. The holistic vision and creativity that the firm imparts allow for solutions according to the client’s needs.’

CMS Grau provides top-quality services and legal advice. They know that it is important for us to receive immediate and substantial attention. Their experience and specialisation in topics relevant to us make the firm an easy choice in Peru. They are cordial with a human approach, professional and friendly at the same time. It is a combination that I find very rare and one other legal firms should copy.’

‘CMS Grau provides us with a comprehensive and timely service with excellent attorneys who know their areas of work perfectly. The firm is equal to, or better, than the three or four best firms in Peru.’

We are attended by Miguel Viale and his team for financing issues, who are especially effective and perfectly know the requirements and procedures of financial institutions in Peru.’

‘Miguel Viale has provided an excellent service in those transactions in which he has been hired, epecially his understanding of operations and his rapid response capacity.’

 

Key clients

Scotiabank

Santander

Export-Import Bank of China (Hubei Branch)

Credicorp Capital

Acumen LATAM Capital Partners / Acumen Latin America Early Growth Fund

Boart Longyear

Silver Wheaton

Corporacion Andina de Fomento (CAF)

DEG

FMO

Enagás

Work highlights

  • Acted for Scotiabank on its $84m financing in favour of Megacentro Lurín for the prepayment of financial leasing with Banco de Crédito del Perú and construction of a logistics centre in Lurín.
  • Advised Empresa Eléctrica Agua Azul (EEAA) on its $33m refinancing of the project finance granted by Banco de Crédito del Perú and COFIDE to fund the construction of El Potrero Hydroelectric Plant in Cajamarca.
  • Acted for Savia Perú in its $35m medium-term facility granted by Citibank NA and Citibank del Perú

DLA Piper Perú

Banking and finance is a key area of expertise at DLA Piper Perú, which has a 'business approach in its DNA’ . It is one of the few firms in the market offering a global platform for transactions in this arena. Clients highlight the personalised and accessible service provided by experienced co-heads Sergio Barboza and Ricardo Escobar, who are supported by a team of six associates. Notably, the team has strength across the board in all areas of regulatory, finance transactions and capital markets work, demonstrated by a varied deal list that includes advising a syndicate of international financial institutions on a $1bn loan to steel producer Gerdau.

Practice head(s):

Sergio Barboza; Ricardo Escobar

Testimonials

Their delivery singles them out. While there are other very good firms in Lima that we have worked with, we have felt more comfortable with DLA. They also have a ‘business approach’ in their DNA. I highlight partner Sergio Barboza who leads the practice and attends to us 24/7. Senior associates: Nelly Espinoza is highly experienced in securities market regulation, and Juan Carlos Ramírez is a tireless negotiator.’

I have experienced excellent communication with the DLA Piper Perú team of lawyers. Their response time is fast, which for my company is very important. I have been working with them since December 2019 and have had no problems with the financial instrument programmes that we issue.’

Key clients

United States International Development Finance Corporation (DFC)

Itaú Corpbanca (New York)

ICBC Perú Bank

Japan International Cooperation Agency

IDB Invest

Netherlands Development Finance Company (FMO)

German Investment Corporation (DEG)

PROPARCO

Incofin CVSO

International Finance Corporation (IFC)

Work highlights

  • Advised the United States International Development Finance Corporation (previously OPIC) on a loan granted to BTS Torres for the installation of 500 telecommunications towers in Ecuador and Peru.
  • Acted for Dutch Development Bank, FMO, and Proparco on a $33m syndicated loan to Edpyme Acceso Crediticio.
  • Advised a syndicate of financial institutions, as lenders, in a $1bn loan in favour of Gerdau, leader in the production of long steels in Latin America and North America.

Lazo, De Romaña Abogados

Lazo, De Romaña Abogados has a team of 'outstanding professionals’ in the field of banking and finance, particularly regulatory and capital markets. More recently, the practice has focused on representing investment funds where it has developed niche expertise under co-head and 'brilliant lawyerFátima De Romaña. Fellow practice heads Jorge Lazo and Freddy Escobar are both experienced banking lawyers who are noted for their negotiation skills and clarity of advice, respectively, and bring arbitration expertise to the practice. However, the firm experienced a number of departures during 2019, with the banking and finance team seeing the departure of talented partners Patricia Brocos and Bruno Gonzales, both to in-house roles; the firm has since brought in Daniel Lovon, as a partner, from Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados.

Testimonials

The quality of its professional services is excellent and enhances the professional and personal relationship with the client. We consider it to be a top-class firm that has a team of outstanding professionals who demonstrate great knowledge in the different practice areas with a creative, flexible and proactive approach.’

‘Fátima De Romaña is a brilliant lawyer and a key person for the firm; she has a lot of experience in both banking and mercantile law, which allows her to offer us global advice to our business. She has known us for three years, understands our real needs and has an excellent reputation in the sector.’

The service provided by Lazo, De Romaña Abogados stood out for its collaboration in each of the stages of the operation, including  the post-closing of transactions.’

The firm stands out for the leadership of Freddy Escobar in the area of ​​financing, who provides a personalised service, experience and handling of legal issues and above all, clarity to explain it and his immediate availability to answer queries that may arise as the different financing is structured.’

Firstly, the firm has developed a fairly deep expertise regarding financing and investment structures not only local, but also under foreign legislation. On the other hand, the team maintains a permanent closeness with the client, seeking to generate synergies, including business. Finally, I consider that the firm seeks to develop an environment of trust, which differentiates it from the teams in other offices.’

Its competitive advantage is the closeness and relationship of trust that it maintains with its client. Secondly, its knowledge of financial issues, not only legally but also commercially, allows for specialised and valuable advice. Finally, what we highlight a lot about the firm is its precision and thoroughness when answering queries, assuming the necessary risks to achieve the objective of the transaction. Partner Fátima De Romaña and associate Francisco Montoya are highlighted.’

The firm offers complementary,  active, prudent and creative advice for contingency resolution.’

The diversity of its disciplines allows it to create complete and complementary alternatives, adapting to different cases. The work of Fátima De Romaña is exceptional and Jorge Lazo‘s knowledge and relationships facilitate good negotiations.’

Key clients

Credicorp Capital Servicios Financieros

Banco de Crédito del Perú

Megacentro Lurín

COFACE Seguro de Crédito Perú

LC Perú

Caja Municipal de Ahorro y Crédito Huancayo

Trafigura Perú

Fondo MiVivienda

Work highlights

  • Acted for Credicorp Capital Servicios Financieros and Banco de Crédito del Perú (BCP) in the structuring of an unsecured, $55m loan granted by BCP to Minera Aurífera Retamas.
  • Represented Megacentro Lurín in obtaining a $84m credit facility from Scotiabank Peru.
  • Advised airline LCP Perú on its $5.7m financial restructuring.

Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados

National firm Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados has an impressive resume of headline finance transactions, particularly on behalf of Chinese investors - it notably advised China Three Gorges on its $850m loan from Bank of China for the acquisition of the Chaglla hydroelectric plant. However, former head of the practice and rainmaker Andrés Kuan-Veng  , who led that deal, moved to  Rubio Leguía Normand in March 2020 and it remains to be seen how this will impact on the firm. Sergio Oquendo  has returned to assume leadership of the practice after a brief stint at CMS Grau. He is supported by the expertise of Mercedes Fernández, who is noted for her work in lending and financial regulation, and Guillermo Flores, who leads on many of the firm's other flagship deals.   .

Practice head(s):

Sergio Oquendo

Key clients

Citibank

Credit Suisse

Goldman Sachs

ICBC Perú Bank

JP Morgan Chase

Petroleos del Peru-Petro Perú

Wells Fargo

Interbank

Scotiabank Peru

Inversiones Nacionales de Turismo-INTURSA (Breca Group)

Banco Santander

Banco BBVA Perú

Empresa de Generación Huallaga

Deutsche Bank Trust Company Americas

Work highlights

  • Acting for China Three Gorges with regard to the $850m loan granted by Bank of China (BoC) to Chaglla Holdings Limited (a Hong Kong SPV incorporated by CTG) for the acquisition of Empresa de Generación Huallaga, owner of the Chaglla hydroelectric plant.
  • Advising BBVA Perú on the $37m medium-term loan granted to Transportadora de Gas del Perú (TGP) for the repurchase and delisting of TGP’s issued bonds
  • Advised Goldman Sachs on the legal and regulatory aspects of the strategic planning for the incorporation of its first representative office in Peru

Rubio Leguía Normand

Rubio Leguía Normand provides 'very dedicated and exceptional support' to clients, and boosted its team significantly in March 2020 with the hire of high-profile Andrés Kuan-Veng, former head of the banking and finance practice at Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados. A coup for the firm, Kuan-Veng has a track record of headline deals at his former firm (he led advice to China Three Gorges on its $850m loan from Bank of China to acquire the Chaglla hydroelectric plant). He joins as co-head of the practice in conjunction with the transaction-focused Carlos Arata, and regulatory specialist and 'brilliant lawyer’, Jeanette Aliaga, making a formidable trio. Deutsche Bank and Bank of America are recent client gains, demonstrating the firm is in the ascendency in this area.  

Testimonials

We have used the firm for a variety of complex financing matters, always with good results. We value their hard work, responsiveness, knowledge of the market and creativity.’

We have worked with many partners of the firm over the years, and have most recently been working with Carlos Arata.’

A very responsible team who are specialists in securities and financial market issues. Able to provide us with very dedicated and exceptional support.’

Jeanette Aliaga is our contact partner. She is a brilliant lawyer, very dedicated and an excellent negotiator. That’s what we seek when we think of a sophisticated attorney.’

A very compact team that is attentive to the demands of complex operations.’

Good team with a lot of experience in this area. The partner leads the operation and gets involved in the details of it. It makes it very clear what are the risks assumed in each clause and proposes solutions that allow the negotiation to continue.’

Jeanette Aliaga is involved in the operation from the beginning and is always available for any questions. Their commitment to the client is very clear.’

Key clients

Credicorp Capital

Citibank

Bank of America

JP Morgan Chase

Interbank

Deutsche Bank

LW Asesores de Inversiones

Obviam DFI AG

Credicorp Capital Sociedad Administradora de Fondos

Bank of Tokyo

Banco GNB

Corporación Andina de Fomento (CAF)

American Glass Products

Work highlights

  • Acted for American Glass Products on its $100m cross-border syndicated loan.      
  • Advised Deutsche Bank Trust Company Americas (DBTCA) as collateral agent and AMM Invest as arranger of a $75m Reg S bond offer issued by Inmobiliaria JyD.
  • Advising CAF Development Bank of Latin America, COFIDE and Interbank as lenders on ongoing issues related to an existing $89m refinancing for three hydroelectric power plants.

BBGS ABOGADOS

The Lima office of regional firm BBGS ABOGADOS  is focused on corporate and finance matters and is increasingly attracting clients and deals that belie its size. In a case in point, it acted for Banco de Crédito del Perú as administrative assistant on Sumitomo Mitsui Banking Corporation's $126m loan to Inversiones LAP Peru. The expanding team is led by experienced professional Carlos Saco-Vertiz, the highly-rated Eduardo Landerer and recently promoted partner Gerardo Guzmán, while senior associate Karen Góngora  was recruited from Dentons Peru in  March 2019.

Key clients

Credicorp Capital/Banco de Crédito del Perú (BCP)

Interseguro Compañía de Seguros

Cineplex (Cineplanet)

Nexus Group

Morgan Stanley

Nessus Hoteles Perú

Banco de Comercio

San Miguel Industrias PET

Colegios Peruano (Innova Schools)

Financiera OH!

Work highlights

  • Represented Banco de Crédito del Perú as administrative assistant on a $126m loan provided by Sumitomo Mitsui Bankinng Corporation in favour of Inversiones LAP Peru
  • Acted for NG Closures (Nexus Group) and its subsudiary, Iberoamericana de Pásticos (SINEA), in the refinancing of a $46m loan provided by Citibank

De Bracamonte - Haaker - Castellares

Specialist banking and finance transaction firm De Bracamonte - Haaker - Castellares continues to enhance its transactional support offering, adding disputes and tax capability to the firm recently. The banking and finance team of two partners and a dozen associates is noted for its 'business approach with personalised treatment’ and has developed niche expertise in trust agreements within financial deals. Christian Castellares Alfaro was formerly in-house at a domestic bank and routinely advises on transactions on behalf of issuers, sponsors and underwriters. Work for borrowers includes acting for Corporación Agrolatina on its $24m loan from Banco Internacional del Peru. Ricardo Manuel Haaker Yori is experienced in a broad range of local and international financings.

Testimonials

They provide a business approach with personalised treatment. The lawyers are always focused on closing the deal.’

All the lawyers I have worked with are very open and friendly people. They manage to be a friend around the office.’

Solid and secure in their knowledge of their practice areas; prompt response to requirements; creativity in legal solutions; wide capacity to work under pressure. In relation to other offices, they show leadership, order and cohesion.’

‘Highlight their empathy with the client. They differ from other law firms by the warmth of the treatment and the ability to solve legal problems. Christian Castellares Alfaro stands out for his negotiation skills and quick reasoning.’

Key clients

Southern Bridge Capital (Peru)

Coöperatieve Rabobank

TMF Peru

Banco Internacional de Costa Rica

Corporación Agrolatina

Fundo Doña Pancha

Inversiones Larco 1232

Trust Sociedad Titulizadora

San Martín Contratistas Generales

Inversiones Acri (Su Ksa Peru)

Work highlights

  • Acted for TMF Peru as Peruvian collateral agent in the $515m bond exchange offer issued by Automotores Gildemeister.  
  • Advised Corporación Agrolatina on its $24m loan from Banco Internacional del Peru

García Sayán Abogados

García Sayán Abogados’ 'highly committed team’ acts for borrowers and lenders, particularly international development banks such as DEG (Germany), AFD (France) and FMO (the Netherlands), on a variety of mid-to-high value transactions. The compact but knowledgeable team provides an 'excellent service’ and is jointly led by: Luis Gastañeta, who has corporate and finance expertise, particularly within the mining, oil and power sectors - he recently led advice to mining company Sociedad Minera El Brocal on its $161m refinancing provided by Banco de Crédito del Perú; counsel Mario Ferrari, who brings many years' in-house banking experience to the offering; and Alfonso Tola, noted for his niche expertise in pension funds.

Testimonials

Highly-committed team, meeting deadlines according to expectations, good knowledge of the sectors that serve us (agriculture, logistics) and the relevant legislation.’

Luis Gastañeta and Alfonso Tola provide an excellent service, good response times, clarity in their responses and good judgment.’

Key clients

Deutsche Investitions- und Entwicklungsgesellschaft (DEG)

Agence Française de Developpement (AFD)

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO)

Santander España

Listo TecnologÍa Perú

VII Capital Funds

Caja Rural De Ahorro y Credito CAT PERU

Faro Capital Sociedad Administradora de Fondos – Faro Capital

EDPYME GMG Servicios Perú

Work highlights

  • Represented Agence Française de Developpement (AFD) on its €105m loan to Fondo Mivivienda for the purposes of improvements to green social housing.
  • Acted for mining company Sociedad Minera El Brocal on its $161m refinancing provided by Banco de Crédito del Perú

Estudio Olaechea

Estudio Olaechea is 'very sharp’ and focuses on regulatory advice to international banks and asset managers, business-to-business financing and investment funds work.  Both co-heads of the team are seasoned finance lawyers. In particular, the 'always availableCarlo Viacava is recommended for sophisticated financial products, financing agreements and investment funds advice and is lead adviser at the firm to key clients BlackRock and JP Morgan Chase.  Jesús Matos has a busy practice in equipment financing transactions. Among senior associates most active in flagship mandates are Valery Vicente and Vladimir Popov.

Practice head(s):

Carlo Viacava; Jesús Matos

Testimonials

‘Carlo Viacava was always available, with good advice and effective execution. The team was sharp and I felt well supported by their team, including associate Valery Vicente.’

They worked very well, good capacity and response opportunity.’

 

Key clients

Credit Suisse

Banco Latinoamericano de Comercio Exterior – Bladex.

Synnex Corporation

Fondo Sura SAF

Standard Chartered Bank

Maj Invest

Macquarie Capital

Banco Itaú

Mizuho Bank

Société Générale

Bank of America

Deutsche Bank

W Capital SAFI

BlackRock

Work highlights

  • Acted for Credit Suisse in financing for a mircrofinance company based in Peru
  • Advised Banco Latinoamericano de Comercio Exterior (Bladex) on establishing operations in Peru and a business analysis across five Latin American countries.