Capital markets in Peru
Estudio Echecopar member firm of Baker McKenzie International
Estudio Echecopar member firm of Baker McKenzie International has played a pioneering role in Peru's capital markets transactions and is 'considered tier one to work with’ by international and domestic banks and major corporates. Indicative of his expertise, Pablo Berckholtz leads the global firm's capital markets practice worldwide and is the State government's lawyer of choice for its successive sovereign bond issues, the latest in April 2020 valued at $3bn issued in response to the Covid-19 pandemic. 'Extensive know-how’ and 'considerable expertise’ is also delivered by fellow partners Alonso Miranda Vargas, who led on the majority of this year's highlights; Rafael Picasso Salinas, head of banking and finance at the firm; and Rafael Berckholtz Velarde. Recuited from Rebaza, Alcázar & De Las Casas in April 2019, principal associate Janett Burga is a consistent member of client teams.
‘They are lawyers with considerable experience in capital markets. It shows in their transactions that they know about the market and the regulatory aspects, which facilitates the structuring (eg documents/due diligence) of the transactions. It is a competitive team, considered tier one to work with from our perspective.’
‘Their expertise and willingness to help the customer stand out, as well as availability of senior partners for meetings and key discussions for the transaction. Extensive know-how allows them to always search for the best solution for the client. The key partner we work with is Alonso Miranda Vargas.’
Republic of Peru
Banco Internacional del Peru (Interbank)
Credicorp Capital Servicios Financieros
Credicorp Capital Sociedad Agente de Bolsa
Nessus Hoteles Peru
Scotia Sociedad Agente de Bolsa
Magna Asesores Financieros
- Acted as Peruvian law adviser to the Republic of Peru on two recent sovereign bond offerings: (i) a Sol-denominated sovereign bond offering for an aggregate principle amount of S/10.1bn ($3bn) in 2019; (ii) a subsequent $3bn global bond offering on the international markets issued in April 2020 in response to the economic impact of COVID-19
- Advised Fondos Sura SAF on the creation of its $1bn FIBRE real estate fund.
- Advised Banco Internacional del Peru (Interbank) on a $400m bond offering (3.250% Senior Notes Due 2026) and additional $386m tender offer for cash to purchase all its outstanding 5.750% Senior Notes due 2020.
- Acted for energy company Consorcio Transmantaro on the offering of its 4.700% Senior Notes due 2034 for an aggregate principal amount of $400m
- Represented Credicorp Capital Servicios Financiero, as arranger, and Credicorp Capital Sociedad Agente de Bolsa, as placement agent, in the registration before the SMV of the fifth issuance under Calidda’s first corporate bond programme – up to $400m – and its public offering directed exclusively at institutional investors.
Garrigues is hard to beat for complex debt and equity work, earning an impressive market share of headline transactions and favoured by domestic and international banks. Most notably, it acted for the underwriters of the Republic of Peru's $3bn sovereign bond issue, and for Intercorp on its IPO on the New York Stock Exchange, the first Peruvian company listing to do so in six years - advice led by José Francisco Meier and Sergio Amiel respectively. The 'extremely dedicated’ team also includes 'excellent lawyer' Thomas Thorndike, practice head Oscar Arrús and Diego Harman, promoted to partner in January 2019. A bank of capable associates includes Monica Yrrarazabal, a regular on key deal teams; and Miluska Gutierrez Vega, who joined in October 2019 following a year at Simpson Thacher & Bartlett LLP.
‘We usually choose Garrigues due to their high professional quality and sophistication in the provision of their service, which is why we are happy with it and we try to involve them recurrently. As well as being quite sophisticated and knowledgeable, they are usually extremely dedicated, have excellent response times and provide solutions that move operations forward. Everything is done in a constructive and positive environment, which we greatly appreciate.’
‘Thomas Thorndike and Sergio Amiel are the partners with whom we usually work. Both are excellent lawyers and advisers (I would think that they are the best in the market for financial matters). They have valuable international experience, which is evident in the way they work and in the final product of their services. Sergio is very meticulous and always provides constructive, valuable suggestions. Thomas is extremely dedicated and analytical, and has a commercial approach that we really like.’
Citigroup Global Markets
JP Morgan Securities
Credit Suisse Securities
Intercorp Financial Services
Gas Natural de Lima y Callao
Bank of America
Santander Investment Securities
Metro de Lima Linea 2
- Acted for Bank of America, Citigroup, HSBC and JP Morgan Securities ,as underwriters, on the Republic of Peru’s $3bn sovereign bond issue
- Advised Citigroup, Bank of America and Scotia Capital as initial purchasers in Alicorp’s issuance of S/1.64bn aggregate principal amount of 6.875% Senior Notes, due 2027.
- Advised Intercorp Financial Services on its IPO on the New York Stock Exchange, comprising 9 million common shares, raising $414m.
- Acted for Credicorp Capital as arranger in Cementos Pacasmayo’s first and second issuance under the second programme of corporate bonds, addressed only to institutional investors, up to S/1 billion.
- Advised Credicorp Capital as arranger in the structuring and registration of the fourth programme of corporate bonds of electricity distributor Luz del Sur, value up to $500m.
Miranda & Amado
Miranda & Amado is 'one of the elite firms in Lima’, landing mulitple landmark deals during the year: it acted for the underwriters in Intercorp Financial Services' IPO on the New York Stock Exchange, the first after a lapse of some six years; and advised JP Morgan Securities and Merrill Lynch as the initial purchasers of $400m green bonds issued by Corporacion Transmantaro, itself the first green bonds issuance by a Peruvian company. A 'top notch service’ is provided by practice head José Miguel Puiggros, 'leading light’ Juan Luis Avendaño Cisneros and stand out associate Álvaro Del Valle, although capital markets specialist Nydia Guevara moved to Rodrigo, Elías & Medrano – Abogados in January 2020. Gabriela Dañino was promoted to partner in December 2019.
‘We work extensively with Miranda & Amado on a variety of M&A and financing projects. These matters can be extremely complex and one-of-a-kind, including the first Pan-American FIBRA IPO. Miranda & Amado is recognised as one of the elite firms in Lima and the service and advice we get is always top notch. I cannot think of any way that this firm could improve its service on the transactions where we have been involved. We have done M&A and financing matters with them that require expertise in local laws as well as an appreciation for New York law-governed documents. The firm has exceeded our expectations in all of these international matters. I have worked with substantially all of the firms in Peru and I believe that Miranda & Amado is the best. In addition, they are a leading participant in the Affinitas Network that has as its members almost uniformly the best firms in Latin America. This is additional evidence of the firm’s excellence.’
‘There is a large group of lawyers at the firm that I have worked with and they all evidence the highest quality legal expertise and work ethic that one could hope for. The firm’s partners are extremely responsive and knowledgeable and have deep industry expertise in a variety of areas including energy and natural resources. The lawyers at Miranda & Amado that I have the most contact with include Juan Luis Avendaño Cisneros and Guillermo Bracamonte. Juan Luis is a leading light at the firm and is among the senior lawyers there. Guillermo is somewhat younger and a real specialist in the natural resources area.’
‘They are lawyers with considerable experience in capital markets. It shows in their transactions that they know about the market and regulatory aspects, which facilitates the structuring of the transaction. It is a competitive team, considered tier one to work with on our side.’
‘We highlight their expertise and willingness to help the client and availability of senior lawyers (Álvaro Del Valle) for meetings and key discussions of the transaction. Their extensive know-how allows us to always search for the best solution. The key partners with whom we work are Juan Luis Avendaño Cisneros, José Miguel Puiggros and Álvaro Del Valle.’
Bank of America
Grupo Crédito (Credicorp Capital, BCP et al)
Grupo Romero (Primax, Alicorp et al)
JP Morgan Securities
Banco de la Nación
- Acted for JP Morgan Securities, Bank of America and Itaú BBA, as underwriters, on Intercorp Financial Services’ $414m IPO on the New York Stock Exchange and a further $54m equity offering in Lima.
- Advised BofA Securities, JP Morgan Securities and Credicorp Capital in the issuance by Banco de Credito del Peru of 4.650% notes, due 2024, for S/2.5bn; and the issuance of 2.700% notes, due 2025, for $700m.
- Represented JP Morgan Securities and Merrill Lynch as the initial purchasers of green bonds issued by Peruvian power transmission company Corporacion Transmantaro, value $400m – the first such issuance by a Peruvian company.
- Advised Promigas and Gases del Pacifico as co-issuers of a $400m international bond.
- Acted for JP Morgan Securities and Citibank as placement agents of the $400m international bond offering by Interbank to finance the buyback of bonds maturing in 2020, and for the issuance of bonds for S/312m.
Payet, Rey, Cauvi, Pérez Abogados is traditionally a leader in domestic transactions but is equally at home on the international stage. For example, it acted for the underwriters - Citigroup Global Markets, Goldman Sachs, HSBC Securities and Santander Investment Securities - in the Repubic of Peru's $3bn global bond issue, conducted in April 2020 in response to the economic impact of COVID-19. Advice was led by verstatile lawyer José Cúneo, who together with market-leading capital markets lawyer Eduardo Vega and transactional heavyweight José Payet make a formidable team. A large pool of associates includes the very capable Alan García Nores.
‘Compared to other practices, the team at Payet, Rey, Cauvi, Pérez Abogados obtained a completely favourable result. The strong points are professionalism, compliance and absolute knowledge of the subject for which they were hired.’
‘Despite being a firm with infinite cases, they were always ready to help and support, both at a distance and personally, at any step. We were personally attended by Eduardo Vega and Renato Velásquez. Both are excellent and the difference with other firms is the consistency in the follow-up of the deal.’
‘As well as knowing the rules, the experience of having dealt with regulatory bodies and market promoters is a plus point. They know how to anticipate them, which approaches would be well received and which ones would not.’
‘Eduardo Vega is recommended. He knows the norm and the people; he has worked with his counterparts for years and he has credibility; what his signature carries will normally be a welcome approach.’
‘In this area, cross-sectional knowledge of the regulations issued by the two capital market regulators and an understanding of the needs and motivations of the business are required. In this sense, the team at Payet, Rey, Cauvi, Pérez Abogados has these attributes fully.’
‘Payet, Rey, Cauvi, Pérez Abogados is highly reliable and highly specialised in the practice of capital markets. They are also familiar with the sectoral regulation applicable to investments and investment risks of private pension funds. We prefer to work with them for the quality of their advice, speed and availability to serve the client.’
‘Eduardo Vega is a highly-effective and reliable lawyer in his interpretation of the regulation of the capital markets and of the regulation of the companies of insurance and private pension funds. He dominates sophisticated aspects of the instruments and has a good connection with market regulators.’
Credicorp Capital Servicios Financieros
Banco de Crédito del Perú
AC Capitales Sociedad Administradora de Fondos de Inversión
Banco BBVA Continental
Desarrolladora del Pacifico
Bolsa de Valores de Lima
Sigma Sociedad Administradora de Fondos de Inversión
- Advised Citigroup Global Markets, Goldman Sachs, HSBC Securities and Santander Investment Securities, as underwriters, on the April 2020, $3bn global bond issuance in the international markets by the Republic of Peru in response to the economic impact of COVID-19.
- Acted for Administradora Prime in FIBRA Prime (the first FIBRA in Peru)’s $26.5m second public offering under the first Real Estate Investment Trust programme in Peru.
- Advised Banco de Crédito del Perú, as issuer, on its $70m bond offering exclusive to Japanese investors, the first offering by a Peruvian issuer in the Japanese capital market.
- Advised Inmobiliaria JyD on its $65m private placement on the international capital markets under Rule 144A / Reg S of the US Securities Act.
- Represented Banco de Crédito del Perú, as issuer, in the structuring of its $6bn Medium-Term Notes Programme.
Rebaza, Alcázar & De Las Casas has sharpened its focus in capital markets work, attracting local and international financings such as advising Camposol on its $350m bond issuance with Santander Investment Securities, BofA Securities, Scotia Capital (USA), UBS Securities and BBVA Securitie as initial purchasers. Niche strengths include regulatory issues, including FIBRAS, and Alternative Securities' Markets. Mandates are led by the practice co-heads Rafael Alcázar and Daniel Gonzáles, both strong transactional lawyers. Capable senior associate Janett Burga moved to Estudio Echecopar member firm of Baker McKenzie International in July 2019; however, the firm moved rapidly, hiring Fiorela Ccahua from Arbe Abogados the following month.
‘Very good capabilities in their fields, excellent team work.’
‘Professional and personal positive attitudes in everything.’
‘Great knowledge of the local environment, of its most relevant stakeholders and extensive experience in the sector in which our company operates.’
‘The correct understanding of the reality of our business makes them stand out; they advise with efficiency and creativity in the design of the operations to be carried out.’
- Advised Camposol on a $350m issuance of senior notes, due 2027, with Santander Investment Securities, BofA Securities, Scotia Capital (USA), UBS Securities and BBVA Securitie as initial purchasers.
- Acted for Scotiabank Peru, as arranger, on the $150m issuance of debt securities through a securities programme made by Banco Ripley Perú.
- Acted for Fondo Mivivienda in the sixth issuance of notes in the framework of its first programme of debt securities for an amount up to $80m.
- Advised GyM on the structuring and placement of a debt securities programme for up to $21m for the issuance of notes with an eight-year term.
Rodrigo, Elías & Medrano – Abogados has valuable capital markets capability within its market-leading finance and M&A practices. The firm's focus is set to grow further with the key hire of securities specialist Nydia Guevara from top-tier firm Miranda & Amado. She joins experienced counsel Paul Castritius, formerly of the Peruvian Securities and Exchange Commission, and leading finance lawyers Jean Paul Chabaneix, head of the practice, and Jorge Trelles. Augusto Cáceres was promoted to partner in January 2020.
Graña y Montero
Mizuho Securities USA
JP Morgan Securities
Santander Investment Securities
The Goodyear Tire and Rubber Company / Compañía Goodyear del Perú.
CVC Capital Partners
Southern Copper Corporation
Moody´s Investors Services / Moody´s Local PE Clasificadora de Riesgo.
Credit Andorra / CA Perú Sociedad Agente de Bolsa
- Advised Goldman Sachs, JP Morgan Securities and Santander Investment Securities on the $563m bond offering by the construction consortium building the Metro de Lima Línea 2.
- Acted for Graña y Montero on its $130m private offering of shares and pre-emptive rights distribution.
- Acted as local counsel to Mizuho Securities USA in the $273m bond issued by GyM Ferrovias to finance the expansion of Metro Line 1.
- Advised Compañía Goodyear del Perú in its successful delisting of investment shares and subsequent public offering for the acquisition of investment shares, which were listed on the Lima Stock Exchange, value $23m.
Sergio Barboza at DLA Piper Perú is an experienced professional in both transactional and regulatory capital markets works, attracting a number of high-value and cross-border mandates to the firm. They include acting for Banco Santander Perú as issuer and underwriter of its first programme of corporate bonds (raising $100m), and Banco Interamericano de Finanzas (BanBif)'s second issue, value $200m, acting for underwriter Credicorp Capital Servicios Financieros. Senior associate Nelly Espinoza is a key member of the team.
‘Their distinguishing feature is their delivery – the Peruvian legal market is highly competitive but DLA Piper Perú‘s capital markets team works closely with us, is creative, experienced and committed. They have supported us since our arrival in Peru in 2013.’
‘There are other very good firms in Lima with which we have worked, but with DLA Piper Perú we have felt more comfortable. They also have a business approach in their DNA. I highlight Sergio Barboza who leads the practice and attends to us 24/7; and Nelly Espinoza, who is highly experienced in securities market regulation.’
‘We have worked on international or cross-border issues involving structures with Chile, Colombia and Brazil, and we have centralised it with DLA Piper Perú.‘
‘We rate the personalised attention and absolute availability of the team.’
‘The firm provides quick attention, concise and clear advice. I highlight Sergio Barboza.‘
‘I have had excellent communication with the DLA Piper Perú team of lawyers. Their response time is fast and for the company I represent, response times are very important. I have been working with them since December 2019 and have had no problems with the financial instrument programmes that we issue.’
‘They understand the capital market issues in Peru, they know how to answer exactly the specific questions that I have sent so far.‘
Credicorp Capital Servicios Financieros
Banco Santander Perú
- Advising Credicorp Capital Servicios Financieros, as underwriter, on the structure and registration of the first programme of corporate bonds by vehicle financing company EDPYME Santander Consumo, value S/400m.
- Acted for Banco Santander Perú as issuer and underwriter of its first programme of corporate bonds and the first issuance under such programme, value $100m.
- Acted for Credicorp Capital Servicios Financieros, as underwriter, on the fourth programme of depositary certificates by Banco Interamericano de Finanzas (BanBif), and the second issuance under such programme, value $200m.
Hernández & Cía. Abogados has capability across all areas of securities regulatory, transactional and investment fund work. Clients are typically on the corporate side, comprising some of the largest conpanies in the country such as Grupo Falabella, Graña y Montero and AB InBev. Juan Luis Hernández heads the practice and is a leading transactional lawyer in Peru. He is supported by partners from across the firm, in particular Diego Carrión, who leads on many of the firm's stands-out capital markets matters.
‘The service provided by Hernández & Cía. Abogados was satisfactory. We had to carry out operations in a limited time, therefore despite the time pressure, they were always available to advise us.’
‘The firm was immersed from the beginning of the transaction, involved in the issues of the operation and the negotiation process with the counterparty, with excellent time management skills.‘
Unión de Cervecerías Peruanas Backus y Johnston (AB InBev)
Graña y Montero
The Carlyle Group
Interseguro Compañía de Seguros
- Acted for The Carlyle Group on its $400m sale, through tender offer, of its controlling stake in Hermes Transportes Blindados in favour of CVC Capital Partners Fund VII.
- Advised The Carlyle Group on its secondary public offering (OPV) of shares owned in Hermes Transportes Blindados, value $250m.
- Acted for Faro Capital SAF in the structuring and placement through private offer of: (i) the Faro Fondo de Inversion Inmobiliario II fund, value $8m; (ii) the Faro Fondo de Inversion Inmobiliario III fund, value $4m.
Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados fields a knowledgeable capital markets team spearheaded by Mercedes Fernández and senior associate Rocío Izquierdo, both formerly of the Peruvian Superintendence of Capital Markets, who advise on securities regulation and litigation. On the transactional side, experienced banking and finance partners Guillermo Flores and Sergio Oquendo are recommended. Oquendo rejoined the firm in March 2020 from CMS Grau as head of banking and finance, to replace the high-profile Andrés Kuan-Veng who moved to Rubio Leguía Normand.
BBVA Banco Continental
Inversiones Nacionales del Turismo (Intursa)
Engie Energia Peru
Larrain Vial Sociedad Agente de Bolsa
AVLA Perú Compañía de Seguro
Oficina de Normalización Previsional – ONP
- Advised the Peruvian department of social security on the incorporation and structuring, including the fund-raising transaction, of BlackRock Direct Lending IX, a $6bn global private debt fund in which the Peruvian government invested up to $120m.
- Acted for BBVA Sociedad Titulizadora, as trustee, in the constitution and administration of a FIBRA Trust – the first such instrument to be registered before the Superintendence of Capital Markets (SMV) in Peru.
- Acted for BBVA Perú on the liability management of Transportadora de Gas del Perú (TGP) for the repurchase and delisting of TGP’s previously issued bonds, value $37m.
Rubio Leguía Normand acts for a healthy mix of banks and companies on a variety of transactions and regulatory matters, including Bank of China, Deutsche Bank and Citigroup Global Markets. Practice co-head Jeanette Aliaga brings eight years' in-house exeprience at Peru's Securities and Exchange Commission to the practice, while fellow co-head Carlos Arata specialises in securities transactions. They were joined by new co-lead of the team Andrés Kuan-Veng in March 2020, who was formerly head of the banking practice at Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados.
‘The service of Rubio Leguía Normand is excellent. We have worked several years with them and they have always shown high professionalism in carrying out their work. The queries are resolved in a timely manner, always seeking to provide an answer as complete as possible and to suit our needs. On one occasion when we had an urgent consultation, they immediately put their offices and staff at our disposal to help us solve the problem.’
‘We have worked with Carlos Arata for several years with considerable satisfaction. It is easy to explain our needs to him. He understands the details of our company, so his suggestions go hand-in-hand with our needs.‘
‘Jeanette Aliaga stands out for her personalised advice on financing and stock market issues.’
Apoyo y Asociados Internacionales
Banco GNB Perú
Oficina de Normalización Previsional (ONP)
Bank of China
Citigroup Global Markets
Itaú BBA USA Securities
- Acted for Banco GNB Peru on its first issue of negotiable depositary certificates, via public offering, for up to $100m.
- Advised Deutsche Bank Trust Company Americas (DBTCA) as collateral agent, and AMM Invest as arranger, on the $75m bond offer by Inmobiliaria JYD.
- Acted for Grupo Energía Bogotá on the securities regulatory aspects of its $270m acquistion of Group Electro Dunas, comprising six listed companies
BBGS ABOGADOS has a substantial capital markets deal list, advising banks and issuers, as well as investment funds and securitisation trusts. Carlos Saco-Vertiz brings many years' domestic and international experience to the practice and led advice to Colegios Peruanos (Innova Schools) in its first programme of securitisation bonds for up to S/230m, marking the first Peruvian company to issue public bonds for social benefit. The recently made-up Gerardo Guzmán Espino also advises on capital markets matters.
Credicorp Capital/Banco de Crédito del Perú
Interseguro Compañía de Seguros
Nessus Hoteles Perú
Banco de Comercio
San Miguel Industrias PET
Colegios Peruano (Innova Schools)
- Acted for Colegios Peruanos (Innova Schools) on its first programme of securitization bonds for up to S/230m.
- Advised Credicorp Capital Servicios Financieros as structuring agent on Rhino Investment Holdings’ S/3.8m sales public offering (OPV under Peruvian legislation) of its shares in Hermes Transportes Blindados.
CMS Grau advises on a variety of transactions including securitisations, bond issues and private placements. Diego Peschiera, in particular, has established expertise in securities matters and leads on the majority of key mandates, such as acting for Scotiabank and Scotia Titulizadora in a $50m private securitised bond issue for Casa Andina hotels. Indeed, real estate finance is a niche strength of the practice. Miguel Viale is another lead adviser, but finance partner Sergio Oquendo returned to his former firm, Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados in March 2020, to head the practice there.
Meridian Group Associated Corp
Banco Internacional del Perú
- Acted for Scotiabank and Scotia Titulizadora in $50m private securitised bond issue for Casa Andina, which securitised VISA payments from 25 Casa Andina hotels.
- Advised Credicorp Capital and Scotiabank in the registration with the SMV of the Lindley Corporation corporate bond programme for up to S/1.2bn.
De Bracamonte - Haaker - Castellares
De Bracamonte - Haaker - Castellares' strong focus in banking and finance transactions extends to capital markets, where it has expertise in both domestic and international securities. Clients highight the hands-on service provided by team co-heads Christian Castellares Alfaro and Ricardo Manuel Haaker Yori, who lead on the majority of matters. Support is provided by a large and 'very solid team' of associates, which include Luis Fernando Edwards and Juan Manuel Robles Montoya.
‘It is a very solid team and above all transactional, very focused on closing transactions. There is relevant expertise. I have worked with other firms and De Bracamonte – Haaker – Castellares is a firm that stands out for its transactional profile.’
‘Christian Castellares Alfaro and Ricardo Manuel Haaker Yori are two partners who are always available and they personally participate in the deals. When I have called them to make enquiries, they are always aware of the status of the operations we have with them. Associate Luis Fernando Edwards also stands out.’
Activa Private Debt Perú (Larrain Vial)
Southern Bridge Capital (Perú)
Trust Sociedad Titulizadora
San Martín Contratistas Generales
Edpyme GMG Servicios Peru
Grupo Coril Sociedad Titulizadora
AVLA Perú Compañía de Seguros
Caja Municipal de Ahorro y Crédito Cusco
BNB Valores Sociedad Agente de Bolsa
- Advised TMF Peru, as Peruvian collateral agent, on the structuring of a $33m note purchase agreement under the jurisdiction of New York, made by issuer Benito Roggio Construcciones y Concesiones (BRCC)
- Acting for Inversiones Acri as issuer of $35m senior secured notes under the laws of the State of New York
Lazo, De Romaña Abogados
The 'dedicated' and service-driven team at Lazo, De Romaña Abogados has considerable capital markets expertise and their 'knowledge of the bond markets is invaluable'. More recently, the firm has focused on investment funds, providing regulatory and structuring advice to asset managers, for example. Jorge Lazo, Fátima De Romaña and Freddy Escobar are all experienced professionals and were joined by Daniel Lovon from Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados in February 2020.
‘Their knowledge of the bond markets is invaluable. Always attentive to our requirements and respond with creative ideas.‘
‘The partner Fátima De Romaña is exceptional, always ready to go the extra mile for the client. Every time we had to work with her, it was a pleasure to hear her ideas and solutions to our complex problems. We greatly appreciate their knowledge of the regulators which facilitated the resolution of many of our concerns. Francisco Montoya works with her and has very high potential and dealt with us with speed and quality.‘
‘I think these guys are excellent. Dealing with Fátima De Romaña was a great experience. They are fast, client-focused, have quick decision making capabilities, look after the client and are open to working as a team for a solution. A refreshing experience and amazing service over all.‘
‘Fátima De Romaña is a top-notch lawyer – deep knowledge of the markets and a fast thinker, problem solver and great communicator.‘
‘I would highlight the availability of partners, expertise and market knowledge of my business.’
‘The team is always attentive and gives timely answers to our queries. The relationship between the lawyers of the firm and the legal and business area of the company is close; they know our day-to-day business and they know the industry that we are in, and that puts them in a very good position to do their consulting, which is efficient.’
Credicorp Capital Servicios Financieros
Adcap Asset Management Perú
Inversiones Coril Sociedad Gestora de Fondos de Inversión
ASAFI (Asociación de Sociedades de Fondos de Inversión)
- Acted for Credicorp Capital Servicios Financieros on the structuring and registration of the $600m fourth corporate bonds programme of Red de Energía del Peru (REP).
- Advised Compass Group on the structuring and placement of the real estate investment fund Fondo de Inversión Inmobiliario CCLA Desarrollo y Rentas Urbanas, with authorised capital of $100m.
Philippi Prietocarrizosa Ferrero DU & Uria provides advice on securities regulation and some transactional matters, primarily to issuers, brokers, securitisation firms and banks. It also has experience in investment-fund matters, acting for a string of fund managers. Antonio Guarniz is the key partner and practice head; heformerly worked in-house at the Peruvian Securities and Exchange Commission (CONASEV).
‘Very professional team with a high level of support in all areas. The partners are willing to continuously monitor processes.’
‘They have excellent support and can comprehensively meet the requirements that arise.’
JP Morgan Chase
BBVA Banco Continental
- Provided local law advice to JP Morgan Chase and Citibank, as underwriters, on the co-issuance of a $400m international bond offering by Promigas (Colombia) and Gases del Pacifico (Peru).
- Advised Lima-listed Intradevco Industrial on the corporate and capital markets aspects of its $490m, 100% share acquisition by Alicorp.