The capital markets team at Garrigues is experienced in a wide range of equity and debt capital markets transactions, including investment-grade bonds, project bonds, private placements, liability management and sovereign debt offerings. The team is led by Oscar Arrús who has over 30 years’ experience in the field; he is well versed in both cross-border and domestic deals. Sergio Amiel and José Francisco Meier act for both issuers and underwriters, with Amiel -in particular- having handled a sizeable number of Peruvian IPOs. Diego Harman is the name to note for asset-backed securities, structured capital markets work and high-yield debt issuances, and is experienced in the US, Latin American and Peruvian markets. Maria Grazia Vallejos joined as associate from Rodrigo, Elías & Medrano – Abogados in early 2021 and joins an associate team that includes principal associate Jorge Fuentes (complex liability management matters and debt capital markets transactions) and Miluska Gutierrez Vega, a senior who specializes in capital markets regulatory matters and cross-border debt and equity transactions.

The capital markets team at Miranda & Amado is no stranger to international equity and debt offerings and has considerable experience in Rule144A/Reg.S transactions. It acts for a range of large international banks and financial institutions, and alongside large international law firms. The team is now led by Gabriela Dañino, who is well known in the market for his cross-border deals expertise; she also provides advice on project finance and fintech matters. Juan Luis Avendaño has over 20 years’ experience in the sector and a renowned figure with extensive knowledge as regards high-value transactions. also an experienced figure José Miguel Puiggros handles a range of domestic and international transactions; while Álvaro Del Valle, who was promoted to the partnership in January 2022,  is active across the financing and capital markets sectors, including fund-related work.

Under the leadership of José Antonio Payet and Eduardo Vega, Payet, Rey, Cauvi, Pérez Abogados continues to handle some of the largest deals in the market, acting for financial institutions on a range of matters, including the structuring of public offerings, take-over bids, exchange offers and the delisting of securities. It has recently been working with the Lima Stock Exchange in relation to various regulatory proposals to boost local capital markets deals and increase the liquidity of the Lima Stock Exchange. Key practitioner José Cúneo advises domestic and international clients on a range of transactional matters and has particular experience of the mining industry. Vega is a name to note for the structuring and issuance of debt and equity transactions, while Alan García Nores , who was promoted to the partnership in December 2021, acts for banks and financial institutions on domestic and cross-border transactions and financial products. Principal associate Rocio Gordillo has extensive experience in structuring and issuance of debt and equity transactions, financing, investment funds, securitization and mutual funds.

Rebaza, Alcázar & De Las Casas is well known in the market for handling high-profile and high-value national and international securities transactions and counts the Republic of Peru as a client, as well as companies in the telecoms and mining sectors. The team is headed by Rafael Alcázar and its broad expertise includes capital markets regulation, investment fund matters and securitisations. Alcázar acts for domestic and foreign banks, and a wide range of companies in relation to regulatory and financing matters. Additional partner-level engagement comes from Luis Miguel Elías – the name to note for corporate finance and cross-border deals; while Daniel Gonzáles La Rosa is recommended for distressed financings and is particularly experienced in the agriculture and education sectors. Key associate support is provided by seniors, Pedro Díaz (securities market regulation, corporate law, corporate crises and M&A), and Fiorela Ccahua (corporate financing, investment funds, securitisation, and securities market regulation).

Rodrigo, Elías & Medrano – Abogados acts for high-profile domestic banks and large international players and takes prides in advising on high-end and out-of-the-ordinary transactions. With a strong banking and finance practice, the firm is well placed to handle capital markets work and its expertise includes bank finance, debt capital markets, equity capital markets, project and structured finance transactions, and regulatory issues. Moreover, with a well regarded tax practice, the team can also assist with all relevant structuring matters. Key practitioners in a team of some 20 lawyers inclue practice head Jean Paul Chabaneix ('highly responsive, knowledgeable, and business-oriented') who leads on many of the team’s high-value deals; the increasingly active Nydia Guevara ('knowledge, speed and the ability to resolve complex situations'), who focuses on structured finance and equity transactions; and counsel Paul Castritius, a Peruvian Securities and Exchange Commission (CONASEV) alumnus who is recommended for regulatory matters.

Under the leadership of Andrés Kuan-Veng, Rubio Leguía Normand continues to handle an array of debt and equity capital markets deals, and it also undertakes related contentious matters, such as securities litigation. It has recently handled several deals involving environmental, social, and governance (ESG) aspects, and Kuan-Veng -a natural rainmaker for the team- continues to bring in new clients. Fellow partner Carlos Arata is another key practitioner and focuses on finance and corporate transactions, both cross border and domestic. Principal associate Janett Burga joined from Estudio Echecopar member firm of Baker McKenzie International in October 2021 and brings considerable banking and finance, as well as fintech expertise to the team. Dual-qualified (Peru / UK) transactional senior Wilfredo Cáceres also handles capital markets matters as required.

DLA Piper Perú‘s team act for issuers and underwriters on matters such as IPOs, certificates of deposit issuances, listings in LatAm markets and offerings of high-yield bonds, combined with advice on compliance with regulatory obligations. ‘A reference in the market‘, Sergio Barboza heads the practice; his recent mandates include leading advise to Santander Consumo on its public offerings. He was aided by senior associate Nelly Espinoza who ‘knows the details of the rules, the risks, the market trends, but above all brings creativity and constructive energy to transactions‘; she focuses on compliance and authorisation and sanctioning procedures. As well as domestic work, the team also handles cross-border matter, recently assisting with an early redemption of bonds involving bondholders domiciled both in Peru and internationally.

Headline mandates for Hernández & Cía include advising the Republic of Peru on its $5bn, 2021 sovereign bond issue in both the US and European markets, which was led by corporate transactional specialist José Manuel Abastos with assistance from senior associate Erick Calla, whose expertise includes particular knowledge of stock market regulatory matters. Practice head Juan Luis Hernández handles matters involving complex regulatory issues; these have included the reorganisation of a share structure which involved a reverse merger and a multi-jurisdictional tender offer for a target company with no controlling shareholder. Senior associate Gloria Zubizarreta aided on the latter, working on an issuance of convertible bonds for the same client. The practice also provides day-to-day advice regarding securities regulations. However, active capital markets participant Diego Carrión left for Cuatrecasas in July 2022.

Founding partners Carlos Saco-Vertiz and Eduardo Landerer , in conjunction with fellow partner Gerardo Guzman co-head the practice at BBGS Abogados, whose recent work included acting for the co-issuers – a plastics company and private equity fund – of Peru’s first international sustainability-linked bond. Banco de Crédito del Perú is also a frequent client, which the firm regularly advises in its role as bondholders’ representative, a case in point being the issuance of bonds by a collective funds company and a connected trust agreement. The practice advises financial institutions, securitisation trusts, investment funds, private equity sponsors and corporates on a full range of financing transactions, including acquisition finance, bridge loans, asset-based facilities, trade finance, margin loans, sovereign loans and structured finance transactions. Moreover, as part of a firm with offices in Mexico, Colombia and Chile, as well as Peru, the office is well-positioned to handle a range of cross border matters.

Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados operates a combined capital markets and banking practices under the overall leadership of  Sergio Oquendo and with the capital markets segment directed by Rocío Izquierdo, who has experience in securities regulation, litigation and transactions. The team counts Banco BBVA as a frequent client, recently advising it on a private offering of structured bonds and issuances of certificates of deposit and commercial papers. Senior associate Alfredo Lau-Tam focuses on local market structures, leading the practice group’s advice on a number of matters including the structuring and liquidation of investment funds. Banking partner Guillermo Flores frequently advises on international employee shares schemes, while senior associate Alesandra Azcárate provides support on matters such as share acquisition. However, securities specialist Jeanette Aliaga left the firm in December 2021 and has since moved to Benites, Vargas & Ugaz.

Led by banking, finance and capital markets head Antonio Guarniz, the practice at Philippi Prietocarrizosa Ferrero DU & Uria primarily takes on matters  for funders. Recent matters have seen the team act for the underwriters on a placement of corporate/convertible bonds and commercial papers; as well as advising fund managers on a public offering investment funds and handling a trust agreement between its client bank and a real estate investor. Guarniz also worked on the Peruvian elements of the integration of the Lima, Santiago and Colombian Stock Exchanges into one entity, including obtaining the relevant regulatory approvals. Key associate support is provided by Victor Bravo G, but Claudia Wong moved to EY Legal in March 2022.