Firms To Watch: Banking and finance

Under the joint leadership of Mafalda Oliveira Monteiro and Nuno Cabeçadas, Miranda & Associados‘ banking and finance group stands out for its proficiency in regulatory matters and asset finance, most notably in the aviation sector.

Banking and finance in Portugal

Cuatrecasas

Lawyers with great availability and versatility to support‘ clients in the full array of banking and finance matters make up the sizeable and specialised team at Cuatrecasas, which is particularly praised for its ‘excellent technical capacity‘. Domestic and international players, including banks, sponsors, borrowers, hedge funds and securitisation vehicles, frequently turn to the group for assistance in large and innovative lending transactions, ranging from real estate, project, corporate and structured finance to securitisations, NPL (non-performing loans) deals, debt restructuring and M&A in the financial sector. The firm’s well-established presence in Iberia, wider European network (London and Brussels offices), and strong French and German Desks make it a go-to choice for cross-border, and market-first financing structures. Senior partner Maria João Ricou oversees the practice, which also features the ‘very experienced and deeply knowledgeableManuel Requicha Ferreira, a key figure for financings in the corporate and real estate sectors. Paulo Costa Martins offers a ‘top-notch service‘ to banks, investment firms and FinTech companies on M&A transactions and financial services regulatory matters. Margarida Leal Oliveira leads on project finance work. The firm’s position in the market was further reinforced by the addition of banking and finance specialists from SLCM | Serra Lopes, Cortes Martins & Associados, following the firms’ merger in January 2023. Rafael Lucas Pires and senior associate Ana Guedes Teixeira bring to the team a mix of regulatory and finance experience, while Maria Raquel Moreira is noted for her track record in debt restructuring and distressed assets.

Practice head(s):

Maria João Ricou


Other key lawyers:

Manuel Requicha Ferreira; Paulo Costa Martins; Margarida Leal Oliveira; Francisco Soares Machado; Rafael Lucas Pires; Maria Raquel Moreira; Ana Guedes Teixeira


Testimonials

‘The department is very close to the client. It understands the client’s business, is technically very solid, and always oriented towards the final result. Clearly business driven.’

‘It has the sophistication, the transactional track and the collective experience of a multinational without losing management flexibility for the Client’s needs. I have been working with the firm for close to 15 years, in the most varied sectors and departments.’

‘Paulo Costa Martins: regardless of his undeniable technical quality, he is one of the most complete, business savvy and organised lawyers I know. Top-notch service.’

‘The banking and finance team works in true partnership with the client and this is its most important distinguishing factor. In addition to the excellent technical capacity, it is a team that listens to the clients and understands their real needs.’

‘In this team, I would highlight Paulo Martins, Ana Sofia Silva and Francisco Sousa Machado for their excellent technical ability and human qualities. Everyone manages to establish a relationship that is both professional and empathetic with the client, knowing how to adjust and adapt to their needs whenever necessary.’

‘Lawyers with great availability and versatility to support the various matters that are requested of them. They have solid technical knowledge on the issues raised.’

‘Multidisciplinary team; in-depth knowledge of the business and applicable legislation; focus on risk management and achievement of clients’ goals; presents alternatives.’

‘Manuel Requicha Ferreira is very experienced and deeply knowledgeable of the client’s activity and the sector in which it operates, so he is very efficient in presenting alternatives and proposing solutions. Margarida Leal Oliveira focuses on the client’s main goal, proposes solutions and alternatives to overcome limitations or conflicts, and is technically very robust.’

Key clients

Azora European Hotel & Lodging, F.C.R.


GetNet, S.A. (Group of Santander)


The Governor and Company of the Bank of Ireland


Novo Banco


Banco Português de Fomento


Stellantis


CVC Capital Partners


ICapital


Davidson Kempner European Partners


Remote Financial


Knighthead Capital Investments S. à r. l.


FCA Bank


Work highlights


  • Advised The Governor and Company of the Bank of Ireland in connection with a new financing agreement to fund two recent acquisitions and refinancing the existing debt of Frulact group.
  • Advised Novo Banco on the sale of the activities of the client’s branch located in Spain to ABANCA Corporación Bancaria, allocation of the carved-out assets to its headquarters in Portugal and the closure of the branch.
  • Advised the borrower, Azora European Hotel & Lodging, F.C.R., in connection with the refinancing of the acquisition by Azora Group of the luxury hotel and real estate development “Vilalara Thalassa Resort”.

Linklaters

The ‘very committed and responsive‘ banking and finance group at Linklaters stands out for its ‘knowledge of the international market and local reality‘. Despite its small size, ‘the team manages to bring together a number of specialists‘ who are recurrently instructed in the most complex and significant financing deals in the market. The Lisbon-based practice is one of the first ports of call for international banks, alternative asset managers, distressed debt traders and hedge funds seeking advice on large-scale deals resulting from the banks’ deleveraging process in Portugal, and is also a go-to destination for clients engaged in loan portfolio disposals (NPLs), acquisition and project finance, and refinancing matters. The firm fields a cross-practice ESG team which supports investors, regulators, central banks and financial institutions in the management of ESG risks and opportunities; banking and project finance specialist Francisco Ferraz De Carvalho is a key name to note in this area. He jointly leads the team with Gonçalo Veiga De Macedo, who focuses on structured finance, portfolio disposals and M&A in the financial services sector. Managing associate Teresa Novo Faria handles a broad workload, which features project finance and structured lending, while João Bento (also a managing associate) advises on NPL deals, securitisations and regulatory matters.


Practice head(s):

Francisco Ferraz de Carvalho; Gonçalo Veiga de Macedo


Other key lawyers:

Teresa Novo Faria; João Bento; Maria José Leite


Testimonials

‘They are very committed and responsive.’

‘The team manages to bring together a number of specialists who are able to achieve very interesting legal solutions in a very original way, with a strong focus on the client.’

‘The technical competence of the people I worked with is above average. In addition to technical skills, they are very client-focused. I have total and complete confidence in the opinions they issue, which are always very well-supported. I feel that they “wear the shirt” of the clients and dedicate themselves deeply to the matters entrusted to them.’

Key clients

Novo Banco, S.A.


Morgan Stanley


Nomura


ECS – Sociedade de Capital Risco, S. A.


Cerberus


Sodim, SGPS, S.A.


Tilden Park Capital Management


Kronos Asset Management


King Street Capital Management, LP


BNP Paribas Personal Finance


European Investment Bank


Banco Primus


Work highlights


  • Acted for Bancolombia S.A., Fondo de Deuda Senior para Infraestructura en Colombia CAF-AM Ashmore I and Nomura Securities International, Inc. in relation to the project financing in Colombia for the PPP toll road project denominated Cambao-Manizales.
  • Advised Tilden Park on the acquisition of a granular €300m GBV portfolio of NPLs and REOs from Montepio.
  • Assisted a syndicate of six banks in the refinancing of the acquisition by a company of First Sentier Group of a solar PV Portfolio in Portugal.

Morais Leitão, Galvão Teles, Soares da Silva & Associados

Distinguished by the high quality of its services‘, Morais Leitão, Galvão Teles, Soares da Silva & Associados fields a team of ‘experienced professionals who react quickly and effectively to unexpected situations‘ in the banking and finance space. The practice – which stands out for its strength in lender-side mandates – maintains a leading position in the market, acting for the most prestigious Portuguese banks and international financial institutions in a broad range of matters, including high-value structured lending, securitisations, private equity and project finance, as well as investment funds and fintech-related issues. The firm is the exclusive legal partner of Portugal Fintech, the principal non-profit fintech community in Portugal. Filipe Lowndes Marques, who is singled out for his capabilities in the project finance and capital market space, leads a ‘well-prepared‘ team that possesses ‘great knowledge‘ of the financial services sector. Luís Branco ‘has great experience and knowledge of complex financing deals‘. Pedro Gorjão Henriques, whose areas of expertise include corporate, trade and project finance, is a strong performer in major debt restructurings. The highly recommended Cláudia Castanheira Dos Santos is the name to note for project and real estate finance. Maria Soares Do Lago, who was recently promoted to partner, has significant experience in corporate and project finance.

Practice head(s):

Filipe Lowndes Marques


Other key lawyers:

Luís Branco; Pedro Gorjão Henriques; Cláudia Castanheira dos Santos; Maria Soares do Lago; Elmano Sousa Costa; Claudia Santos Cruz; Elmano Sousa Costa


Testimonials

‘I really liked the work of Filipe Lowndes and António Magalhães Ramalho. It’s always good to work with a team that, when faced with a problem, finds solutions and not more problems. It is not easy to please all parties, especially in a syndicated transaction where, sometimes, institutions have different understandings of a given subject. I really appreciate Filipe’s work, who always tried to find a quick solution, without further complicating matters. Filipe and his team were well prepared and had a great knowledge of the sector.’

‘Excellent service and close proximity to clients. Great technical capacity in more complex operations.’

‘Luis Branco has great experience and knowledge of complex financing deals. Elmano Sousa Costa stands out for his dedication and availability.’

‘The entire MLGTS team is distinguished by the high quality of service, delivering not only excellent quality work but also anticipating the client’s concerns and key points, which allows them to be a true partner in closing deals.’

‘MLGTS is characterised by a service of excellence, personalised and above all extremely efficient advice, taking away from the client much of the pressure resulting from the contractual execution processes. It integrates experienced professionals who react quickly and effectively to unexpected situations.’

‘I particularly recommend Cláudia Castanheira dos Santos, whose vast experience and ability to execute has been extremely valuable in several processes in which she has advised us for many years.’

‘ML distinguishes itself by providing the highest standards of legal services across a wide range of areas of practice, based in a solid ethical conduct.’

‘Filipe Lowndes Marques, Luís Branco and Cláudia Castanheira dos Santos are differentiated by their ability to develop projects of outstanding complexity and size, within a framework of excellence, professionalism and dedication to the client.’

Work highlights


PLMJ

Praised for its ‘professionalism, know-how and close collaboration‘, PLMJ‘s banking and finance practice possesses an impressive track record in highly complex, and often market-shaping financing transactions in Portugal. Recent engagements have seen the team advise on syndicated loans, financings in the real estate sector and several deals involving the disposal of NPL portfolios. With a strong following among the largest Portuguese and international banks, financial institutions and asset managers, the firm also provides assistance in the areas of restructuring, securitisations, consumer credit and financial services regulations. Department head André Figueiredo, who has worked on some of the most complex NPL transactions in the market, is the first point of contact in the team for lenders and investors. Key support is also offered by managing partner Bruno Ferreira, who has a wealth of experience in transactional and financial regulatory matters, and Gonçalo dos Reis Martins, noted for his proficiency in syndicated lending and asset finance deals. João Dias Lopes is recommended for regulatory issues pertaining to this space. In a major development, the firm hired Pedro Siza Vieira in September 2022, former minister of economy, to oversee a multidisciplinary group dedicated to advising companies and the financial sector.

Practice head(s):

André Figueiredo


Other key lawyers:

Bruno Ferreira; Gonçalo dos Reis Martins; João Dias Lopes; Luis Miguel Vasconcelos; Pedro Siza Vieira


Testimonials

‘Professionalism, know-how, close collaboration, commitment, and quick responses.’

‘Pro-activity and ability to find solutions.’

‘Gonçalo dos Reis Martins and Nuno Morgado Pereira are recommended.’

Key clients

CPPIB Credit Investments Inc.


Davidson Kempner European Partners


Cross Ocean Partners


Barclays Bank PLC


Goldman Sachs


Bank of America Merrill Lynch


Apple Pay


Bank of England


Facebook Payments International


Citibank


Société Générale


Elliot Advisors LLC


JP Morgan


Banco Santander


Haitong Bank


ANACAP


Blackstone


Morgan Stanley


Work highlights


  • Advising Davidson Kempner Partners on the financing by a syndicate of Portuguese banks of the acquisition of 100% of the units in several major real estate investment funds and of real estate assets, for a total purchase price of around €1bn.
  • Advised Caixa Geral de Depósitos on the disposal of a portfolio of real estate assets (REOs) and a portfolio of secured non-performing loans (NPLs).
  • Advised Galp on a €140m term facility agreement between Galp Energia as borrower and Bank of China (Luxembourg) Lisbon Branch – Sucursal em Portugal, as lender.

VdA

With an excellent lender perspective of the market practice and relevant precedents, VdA advises on the entire spectrum of regulatory issues and transactions across the banking and finance space. The group, which stands out for its expertise in assisting banks in NPL deals and their deleveraging strategies, continues to act for Banco de Portugal and the Resolution Fund in matters involving the BES resolution and disposal of Novo Banco-related assets. The robust department is also called upon to advise on landmark financing deals, including sustainability-linked instruments, sectorial M&A and governance, fintech and payment services-related mandates. Chairing the group is Pedro Cassiano Santos, who enjoys a strong reputation among peers, clients and market regulators. He manages a balanced workload which features a mix of capital markets deals, structured finance and securitisations, and also leads the firm’s private banking arm. Hugo Moredo Santos is a key contact for banks and other credit institutions in the context of their ongoing activities in Portugal and Portuguese-speaking countries in Africa; he also focuses on structured and asset finance. Paula Gomes Freire, who was elected as the firm’s new managing partner in February 2022, is also active in the practice, while Pedro Simões Coelho heads up the investment funds and collective investment entities department, as well as the aviation group. Structured products, classic financings and asset-backed transactions are core areas of activity for Benedita Aires. Tiago Correia Moreira assists in fintech-related matters and NPL transactions.

Practice head(s):

Pedro Cassiano Santos


Other key lawyers:

Paula Gomes Freire; Pedro Simões Coelho; Hugo Moredo Santos; Benedita Aires; Tiago Correia Moreira; Orlando Vogler Guiné; Maria Carrilho; Sebastião Nogueira


Testimonials

‘Very clear explanation of options and consequences when working on restructuring projects. Excellent engagement with Portuguese regulator. Top-level deadline management, last-minute workloads and interaction with UK counsel.’

‘Extremely professional but also personable. Great Portuguese NPL expertise. Special mentions to Tiago Correia Moreira and Sebastião Nogueira.’

‘I highlight the professionalism, know-how, proximity to the client and ability to simplify complex problems. This team/firm stands out from its competitors for its responsiveness and “uncomplicated” bureaucracy, in addition to its proximity to the client.’

‘Hugo Moredo dos Santos, Orlando Vogler Guiné possess a high level of knowledge of the subjects, ability to work and respond, flexibility and proximity.’

Key clients

StormHarbour Securities LLP and Crédit Agricole Corporate and Investment Bank


Blackstone Group /BREDS– Blackstone Real Estate Debt Strategies; KSL Capital Partners


Grupo Arié


Deutsche Bank, AG (as Arranger and Noteholder)


Banco Comercial Português, S.A.


Tagus – Sociedade de Titularização de Créditos (“Tagus”).


Caixa Geral de Depósitos, S.A.


Banco Santander Totta, S.A.


GLQC S.À R.L.


Trevicalêndula, Lda.


Alantra (as Noteholder)


Work highlights


  • Assisted Arrow Global Limited in a securitisation designated Project Themis, with the issue of €16.7m notes.
  • Assisted 321 Crédito in a auto loan securitisation (Ulisses 3), which involved a €203.3m cash securitisation of auto loan credits originated by 321Crédito, Instituição Financeira de Crédito, S.A., with securitised bonds issued by TAGUS – Sociedade de Titularização de Créditos, S.A.
  • Assisted Refundos in a multi-step transaction, including delisting of Maxirent fund units.

Abreu Advogados

Rated for its ‘personalised attention‘, Abreu Advogados has strong relationships with several domestic and international corporates and credit institutions, and is especially prolific in borrower-side mandates. Its broad service coverage includes regulatory matters and transactional work, which ranges from real estate and project financing to structured lending, acquisition finance and disposals of NPL portfolios. The practice is now under the joint leadership of three partners: Diogo Pereira Duarte, who specialises in the regulatory framework applicable to banks, investment firms, fintech and blockchain, and Rodrigo Formigal, a key figure for cross-border financing transactions and debt restructuring, were promoted to new coordinators of the finance group in 2021, joining José Maria Corrêa De Sampaio in the leadership seat. André Modesto Pinheiro, who was recently promoted to associated parter, and co-head of the fintech group Isabel Pinheiro Torres are other names to note. The group was strengthened in November 2022 by the arrival of a team from TELLES focused on structured finance and projects. Partner Bruno Azevedo Rodrigues, and senior associate João Lupi bring a wealth of experience in the financing of renewable projects and banking matters. The practice was further bolstered by the arrival of Pedro Ferreira Malaquias from Uría Menéndez – Proença Carvalho in early 2023; he enjoys a strong reputation in the retail and commercial banking market. Rui Ferreira de Almeida rejoined the firm in February 2024.

Practice head(s):

José Maria Corrêa de Sampaio; Rodrigo Formigal; Diogo Pereira Duarte


Other key lawyers:

André Modesto Pinheiro; Isabel Pinheiro Torres; Bruno Azevedo Rodrigues; João Lupi; Rui Ferreira de Almeida


Testimonials

‘Abreu Advogados has a team dedicated to issues related to venture capital investments, especially in the areas of risk and impact capital, alternative responses and developing customised solutions for clients.’

‘André Modesto Pinheiro is always available and cordial, and has extensive experience in venture capital matters, which has allowed him to present solutions that meet our needs.’

‘A positive point is the flexibility both in terms of response and rates. They also are adapted to the client’s requirements, even if the client proposes last-minute changes. They have an excellent capacity of response even in moments of high demand.’

‘Personalised attention, partners answer questions without delegating to more junior staff. Reasonable rates.’

‘I have worked with Rodrigo Formigal. He is extremely responsive and collaborative on transactions. Rodrigo provides clear and digestible advice on Portuguese issues in finance transactions and is able to analyse these effectively in the context of the commercial drivers of the deal.’

Key clients

Banco de Negócios Internacional


BIG


Big Mozambique


Bitvavo


Caixa Geral de Depósitos


Credit Suisse


Dura Automotive


EFACEC


Getir


Holland & Knight


IKEA


impactMarket


JJW Hotels & Resorts Group


Onetier Partners SCR


PRIO Group


Rolls Royce


Sacyr Somague


Santa Casa da Misericórdia


Starz Real Estate


Time Out Group


TOTAL


Uphold


Utrust


Vivid


VStudent


Yildirim Group


Work highlights


  • Assisted EFACEC in a financing contract with a banking syndicate composed of three major Portuguese banks and an additional bank who performed the role of agent of the banking syndicate.
  • Advised Starz Real Estate on the financing – via a mortgage-backed facility agreement – to a vehicle (CSH Porto2 Lda) to be held by Temprano Capital and Brookfield for the purpose of acquiring the biggest student house accommodation project in the north of Portugal.
  • Provided legal assistance to the various companies of the PRIO Group, in the redefinition and renegotiation of its bank financing, following the acquisition of this Group by the Spanish group DISA.

Garrigues Portugal

At Garrigues Portugal, lawyers from the banking and finance group are recommended for their ‘unbeatable attention‘, ‘client service‘ and ‘extensive experience‘ in a variety of deals. Real estate finance is a strong point for the department, which is also seasoned in financial restructurings, non-performing loans, corporate finance and fintech-related matters. Its loyal client base includes several noteworthy Portuguese and international banks, financial institutions and borrowers as well as players from the crypto, credit intermediation and payment services sectors. With over three decades’ experience in the banking and finance space, practice head Diogo Leónidas Rocha is skilled in NPLs, distressed debt transactions and regulatory issues. Recently promoted partner Vasco Rodrigues has advised funds on complex transactions involving mezzanine finance and special situations. Ricardo Lira stands out at the associate level.


Practice head(s):

Diogo Leónidas Rocha


Other key lawyers:

Marta Graça Rodrigues; Vasco Rodrigues; Ricardo Lira


Testimonials

‘Garrigues displayed a solid knowledge on the back of their extensive track record. We appreciated very much their deep knowledge of the Portuguese jurisdiction.’

‘Diogo Leónidas Rocha is the perfect legal partner for debt issuances in Portugal.’

‘Lawyers with extensive experience, with a very high availability, with unbeatable attention and client service.’

‘Highly recommended. Their dedication, quick response, experience and technical knowledge are excellent. Great team with whom we have worked on numerous occasions with very good results.’

‘The partner Diogo Leónidas Rocha, together with the real estate partner Miguel Menezes Silva, form a perfect team. They are very helpful and client oriented. Great professionals with extensive experience in the real estate and student housing sector in the field of legal advice on financing.’

Key clients

Tresmares Santander Direct Lending, S.I.C.C., S.A.


Sidecu


Ibedomar Consultoria, Lda


Waterfall Asset Management


Crédit Agricole Corporate and Investment Bank


Caixabank, S.A.


Tristan Capital Partners


BSREP III Bermuda GP, LP


CIPAN – Companhia Industrial Produtora de Antibióticos, S.A. and Suan Farma SAU


Jamestown LP


DePrado Group


Henderson Park


The Bank of New York Mellon


Goldman Sachs International


Grape Hospitality International


Izilend


ProWinko Group


Work highlights


  • Advised Henderson Park on the acquisition and finance of Lagoas Park, S.A., a company that owns one of Portugal’s largest business parks.
  • Assisted the US and Germany-based firm Jamestown in the financing of a €98m real estate investment in Portugal.
  • Acting as legal counsel to Banco de Sabadell, S.A. in relation to the execution of a financing transaction for the purposes of the construction and operation of three solar plants with an aggregate potential capacity of 59.7 MWp.

SRS Legal

SRS Legal provides Portuguese law advice on both domestic and cross-border banking and finance mandates, encompassing structured, acquisition, project and real estate finance. The latter is a particular area of growth for the team which has also seen an increasing demand by clients in the fields of fintech, crypto, funds and asset management. Lawyers are strong performers in transactional matters with links to Portuguese-speaking countries in Africa – especially Mozambique and Angola – and have recently advised on several mandates involving the acquisition and disposal of NPLs. Managing partner Pedro Rebelo de Sousa jointly heads up the group with William Smithson, who specialises in structured finance and financial restructurings, and Alexandra Valente, one of the main points of contact in the team for Portuguese and foreign financial institutions and private equity funds. João Santos Carvalho is widely recommended by clients; he handles cross-border financing transactions and regulatory matters.

Practice head(s):

Pedro Rebelo de Sousa; Alexandra Valente; William Smithson


Other key lawyers:

João Santos Carvalho


Testimonials

‘This firm is in my view extremely efficient, professional and organised. They understand local and cross-border issues and practical problems. I never felt I had to explain to them for hours what needs to be done: they pick it up right away.’

‘João Santos Carvalho is the person i will call first whenever I have a transaction involving Portuguese law. He will either direct me to one of his partners or deal with the transaction himself. He speaks several languages which makes things a lot easier in cross-border transactions. He understands legal issues arising out of other jurisdictions. Whatever his involvement in a deal is, he will make sure everything goes smoothly and in a timely manner.’

Key clients

African Export Import Bank


Rabobank


M7


Banco do Brasil


Sagemcom Broadband


Upteam Corporation Limited


MNK


BNP Paribas


Oney Bank


Bank of Portugal


EOS Group


Sérvulo & Associados

Equipped with extensive knowledge‘ and fielding a longstanding regulatory tradition, Sérvulo & Associados‘ finance and governance practice has played a prominent role in the structural reorganisation of the public financial sector in Portugal, following the resolution of BES – Banco Espírito Santo, BANIF – Banco Internacional do Funchal and BPP – Banco Privado Português. Leading credit and financial institutions in Portugal and abroad also seek the firm’s assistance on a host of transactions, including acquisition, corporate and real estate finance, just to name a few. At the helm of the practice, Manuel Magalhães and Paulo Câmara are noted for their combined wealth of experience in mandates involving Portuguese-speaking countries in Africa, a service which is provided through SÉRVULO LATITUDE – an international network of law firms – and the African desk. Co-head Câmara, who stands out in the market for his in-depth knowledge of Portuguese banking law, also chairs the ESG practice. Verónica Fernández leads on work in the fintech space, where she assists players from the crypto, payment services and neobanking segments. Francisco Boavida Salavessa ‘is recommended for his experience and quality of work in the banking and securities fields‘. Inês Palma Ramalho left the firm in December 2023.

Practice head(s):

Manuel Magalhães; Paulo Câmara


Other key lawyers:

Verónica Fernández; Francisco Barona; Francisco Boavida Salavessa; Patrícia Costa Gomes; José Guilherme Gomes


Testimonials

‘The banking and finance team is made up of excellent professionals, under the leadership of Paulo Câmara, whose knowledge and approach to the issues are recognised by everyone in the market.’

‘Equipped with extensive knowledge of the client’s situations.’

‘Manuel Magalhães stands out for his experience, quality of advice and client support.’

‘Francisco Boavida Salavessa is recommended for his experience and quality of work in the banking and securities fields.’

‘Team was always available for calls and responsive on all our enquiries and provide very good support during the project.’

‘I’ve received great attention and availability. In addition, they have helped us in a very proactive way also beyond the scope we had initially agreed on.’

‘What makes Sérvulo unique is the knowledge and experience in the areas of banking and direct consumption. They always carry out careful, in-depth and detailed analyses of all topics.’

‘Francisco Boavida Salavessa: great technical knowledge, work capacity, and creativity.’

Key clients

BES – Banco Espírito Santo S.A. – Em Liquidação


BANIF – Banco Internacional do Funchal, S.A. – Em Liquidação


BBVA – Instituição Financeira de Crédito, S.A.


BANCO COMERCIAL E DE INVESTIMENTOS, S.A.


Saltpay Portugal S.A. (former PAGAQUI – Pagamentos e Carregamentos, S.A.) from Saltpay Group and SaltPay IIB hf.


Agrimútuo – Federação de Caixas de Crédito Agrícola Mútuo (together with Caixa Crédito Agrícola Mútuo de Torres Vedras e Caixa Crédito Agrícola Mútuo de Mafra)


Orey Financial – Instituição Financeira de Crédito, S.A. – Em Liquidação


Société Générale Equipment Finance Iberia EFC, S.A.


Oney Bank, S.A. – Sucursal em Portugal (Portuguese branch)


Banco Credibom, S.A.


Banco BIC Português, S.A. / EUROBIC


Work highlights


  • Ongoing day-to-day assistance to Banco Espírito Santo, S.A. – Em Liquidação (“BES”), a Portuguese listed credit institution, after the withdrawal of the banking licence of BES by the European Central Bank in July 2016.
  • Ongoing day-to-day assistance to BANIF, a Portuguese listed credit institution, after the application of a resolution measure by the Bank of Portugal, whereby some assets and liabilities of BANIF were purchased by Banco Santander Totta, S.A., other assets and liabilities were transferred to a public-owned asset management company created for this purpose, and the remaining residual assets and liabilities remained with BANIF.
  • Advises Banco BIC Português, S.A. / EUROBIC on internal governance adjustments considering the still ongoing process of sale of the Bank, including close contact with the Board, inter-actions with potential buyers and the regulator.

Uría Menéndez – Proença Carvalho

The ‘seasoned‘ banking and finance practice at Uría Menéndez – Proença Carvalho has ‘robust experience of both finance and Portuguese law‘ and attracts instructions from leading credit institutions, financial companies and investment firms in a broad range of transactional and financial services regulatory mandates. The team handles a balanced mix of debt refinancings, M&A in the banking sector, lending transactions in the real estate segment and NPL disposals, the latter of which is a particular area of strength for the group. Senior associate Miguel Rodrigues Leal ‘demonstrates a vast knowledge‘ of project, acquisition and real estate finance, ‘both nationally and internationally‘. Counsel Hélder Frias is recommended for a variety of banking and finance deals, including multijurisdictional matters. Former practice head Pedro Ferreira Malaquias  left the firm in January 2023.

Other key lawyers:

Miguel Rodrigues Leal; Hélder Frias


Testimonials

‘Very high quality advice and technical knowledge, seniority, commitment and responsibility.’

‘From the experience we had, they always sought to find a solution and never problems, which is what you want from a specialised service provider.’

‘Miguel Rodrigues Leal demonstrates a vast knowledge of this area, both nationally and internationally. Always available and concerned with finding the solution to the problem that we present them.’

‘Seasoned team with robust experience of both finance and Portuguese law. With strong sense of collaboration and cooperation.’

‘Knowledge and experience. Approach and ability to accommodate to the client’s need.’

‘Hélder Frias is available, thinks outside the box and is focused on solutions.’

Key clients

Barclays Bank Ireland PLC – Sucursal em Portugal


Santander Consumer Finance, S.A.


doValue Portugal, Unipessoal, Lda.


Deutsche Bank Aktiengesellschaft


Banco Sabadell, S.A. – Sucursal em Portugal


Banco Santander Totta, S.A.


Caixa Central – Caixa Central de Crédito Agrícola Mútuo, CRL


Arrow Global (UK)


Deva Capital Management


Corum Asset Management


ING Bank (Portugal)


CMS

Domestic and foreign banks, multilateral institutions and borrowers turn to CMS for assistance in the spectrum of financing transactions and banking regulatory matters. The team has been increasingly busy advising funds on the sale and acquisition of NPL portfolios and related litigation, and remains active in acquisition finance, debt work-out transactions, cross-border factoring deals and lending in the real estate space. Practice head António Payan Martins is singled out for his ‘experience and knowledge of complex finance deals‘; he specialises in structured products, corporate finance and distressed assets. Key support is offered by Francisco Xavier de Almeida and senior associate Filipa Gaspar Branco, both of whom have significant experience in NPL deals.


Practice head(s):

António Payan Martins


Other key lawyers:

Francisco Xavier de Almeida; Filipa Gaspar Branco


Testimonials

‘António Payan Martins has a lot experience and knowledge of complex finance deals, which is often hard to find outside of the main financial centres.’

‘António Payan Martins is great. Best finance lawyer in Portugal!’

Key clients

Norinchukin Bank


LCM Partners


Erste Bank


Bybrook Capital LLP


Banque Internationale à Luxembourg


Banque Européenne du Crédit Mutuel


Bank of America Merrill Lynch


Klarna Bank AB


WElink Finance 2 limited


Deutsche Bank AG


Goldman Sachs


Davidson Kempner Partners


Galp Group


Work highlights


  • Advising LCM Partners on its bid for the acquisition of Pools 56 and 57 Portfolios.
  • Advising Davidson Kempneron its bid for the acquisition of the Harvey Portfolio.
  • Assisting the Bel Group in the setting up of an international trade receivables securitisation transaction.

DLA Piper ABBC

At DLA Piper ABBC, the banking and finance department acts for large banks, financial services companies and institutions on matters related to their day-to-day operations and strategic transactions, including cross-border financing deals. The team – whose service offering covers the entire spectrum of banking and finance mandates – is particularly seasoned in real estate and project finance, and has been particularly busy advising clients on the refinancing of large-scale projects. It is also a popular destination for alternative funding players, notably credit funds and fintech firms, seeking assistance on both transactional and regulatory issues. Leading the group is Nuno Azevedo Neves, who has handled several corporate finance and lending deals on behalf of multinationals, banks, private equity houses and funds. Gonçalo Castro Ribeiro is no longer at the firm.

Practice head(s):

Nuno Azevedo Neves


Other key lawyers:

Nuno Castelo Branco


Testimonials

‘Solid knowledge of the matters addressed. Attention to detail. Worked with the objective of reaching consensus with the other stakeholders.’

‘Very organised team with good communication.’

‘Good balance between young talent and expertise level. Good access to the partners.’

Key clients

Edyn group (held by Brookfield Asset Management)


Greenvolt


Investc Bank Plc


Kommunalkredit Austria AG


Maya Capital


Tikehau Capital


European Energy Efficiency Fund


Work highlights


  • Advising the Edyn Group on a €400m refinance.
  • Advising Maya on the €65m financing of the acquisition and development of a portfolio of real estate properties across several areas of Lisbon.
  • Advising Greenvolt in financing of the acquisition of portfolio contributed in Greenvolt’s EUR 150 million IPO.

Gómez-Acebo & Pombo

The Lisbon-based banking and finance group at Gómez-Acebo & Pombo acts for an impressive client roster, comprising domestic and international credit and financial institutions, insurance players, and borrowers in relation to financing transactions and regulatory work. The team is particularly well placed to advise on the acquisition of credit portfolios, syndicated lending, financial restructurings and acquisition finance; also of note is the firm’s strong capabilities in the insurance space, where Filipe Santos Barata – an expert in Warranty & Indemnity insurance within M&A transactions – is the name to note. Managing partner Mafalda Barreto, who works in close proximity with the Madrid, Brussels and London offices, focuses on cross-border deals, and oversees matters pertaining to the banking sector. Fellow co-head Miguel Castro Pereira is singled out for his knowledge of banking and financial laws in Angola, Mozambique and Cape Verde.

Practice head(s):

Mafalda Barreto; Miguel Castro Pereira; Filipe Santos Barata


Testimonials

‘Filipe Santos Barata stands out for his vast knowledge of the insurance sector.’

MACEDO VITORINO

The ‘very responsive‘ and ‘commercially minded‘ banking and finance team at MACEDO VITORINO offers ‘clear‘ advice to domestic and foreign clients in an array of transactional matters, including acquisition finance, structured deals and project finance. The group is particularly well placed to assist private and public sector entities in mandates involving the real estate, energy, infrastructure and TMT sectors. The firm has recently launched a green finance team, which brings together financing, renewable energy and ESG experts, and is dedicated to the development and financing of green energy projects. Founding partner António de Macedo Vitorino is proficient in project finance, securities law and corporate finance, while the ‘excellentAndré Vasques Dias focuses on lending transactions and cross-border M&A.

Practice head(s):

António de Macedo Vitorino; André Vasques Dias


Testimonials

‘Excellent service from MV on the Portuguese aspects of the financing of an English listed PLC. Very responsive and clear in their advice and commercially minded.’

‘André Dias is excellent – very collaborative, helpful and clear in all of his advice.’

Key clients

Municipality of Lisbon


Solaria Energía y Medio Ambiente, SA


Crédit Agricole and Investment Bank


HC Hospitais Concessionados, SA


TIH-Tejo Infraestruturas Hospitalares


Healthcare Ativos


Grupo Globalfer


Roadis


Nordic Solar Management


Susi Partners AG


Caixa Central Crédito Agrícola Mútuo


Tresmares Capital


Frequent Summer Group


Work highlights


  • Advised the Municipality of Lisbon in connection with several affordable housing PPP projects.
  • Acted for Solaria Energia in the financing of 4 PV solar projects of its subsidiary Prodigy Orbittotalizing 64MWp
  • Advised the Lenders in connection with the financing of LHEA Association For Lifelong Health Education for the construction of a project by Credit Agrícola Group.

RRP Advogados

Despite its relatively recent history, RRP Advogados‘ banking and finance practice has already been able to position itself in the market as a go-to shop for both lenders and borrowers seeking advice on all types of financing transactions, including leveraged and structured finance, securitisations and project finance. With in-depth knowledge of banking and financial regulations, the fast-growing practice is well versed in financing transactions in the infrastructure, energy and real estate sectors, NPL deals and bank deleveraging matters. Former practice head Carlos Vaz De Almeida and associate José Manuel Alves are no longer at the firm.

Testimonials

‘Exceptional quality of advice. Full commitment at every time. Fighting for their client. Exceptional value for money and transparent billing.’

‘The lawyers at RRP are always available. I always got an immediate response to any contact. They are excellent in terms of technical and legal skills, and know the market and the more business/financial aspects of transactions as well. I was always impressed by the quality of their work and their attention to detail. They were also able to create a collaborative atmosphere with all parties in our transaction, even in negotiations that went through the night. Negotiations that could have been very stressful were made easy by the way they dealt with the lawyers on the other side and with the other parties. They clearly have a lot of experience dealing with complex financing transactions. High-caliber partners and associates.’

‘Law firm offers very strong technical skills, together with very high reactivity and ability to coordinate different stakeholders.’

‘They are a small and nimble team that punches way above its weight in the banking and finance space. Highly client focused, business friendly and innovative, all built upon rock solid foundations of legal knowledge.’

Key clients

MSC Mediterranean Shipping Company, S.A. (MSC Group)


Caixa Económica Montepio Geral, Caixa Económica Bancária, S.A. (Banco Montepio) and the Montepio Group


De Lage Landen International B.V. (Rabobank Group)


Medway (Transporte & Logística)


Catalyst Capital


AM alpha Kapital


Krest Real Estate Investment


Abanca


Eurobic


Group Legendre


Work highlights


  • Assisting MSC Mediterranean Shipping Company Group and Medway in a green syndicated financing transaction in the railroad sector.
  • Advises Montepio Group, in close relationship with the investment banking arm of the group (BEM – Banco de Empresas Montepio), on the corporate restructuring and deleveraging of the group.
  • Advising AM alpha Kapitalverwaltungsgesellschaft mbH in the structuring, negotiating and closing of a real estate financing transaction with ING Bank as the lender.

CTSU - Sociedade de Advogados, S.P., R.L., S.A.

The ‘very responsive and pragmatic team‘ at CTSU - Sociedade de Advogados, S.P., R.L., S.A. is particularly well positioned to provide regulatory support in the context of digital transformation projects and development of digital products in the banking, insurance and financial services sectors. Working in close collaboration with other Deloitte Legal firms, the group is also instructed in cross-border financing transactions involving Lusophone countries in Africa. Widely recommended by clients, principal associate Miguel Cordeiro ‘stands out for his expertise in the area of funds‘; he acts for an array of banks, asset managers, insurance undertakinga and pension funds in transactional and regulatory matters.

Practice head(s):

Miguel Cordeiro


Other key lawyers:

Mónica Moreira


Testimonials

‘They have a really practical approach and are always business oriented which is really appreciated by the clients. No matter the deadline, they always deliver on time and with a great quality. It is a pleasure working with them.’

‘Absolutely recommend Miguel Cordeiro. I have been working with him for ages and I have to say that he’s the best in class.’

‘Excellent value for money. Very responsive and pragmatic team.’

‘Miguel Cordeiro is a great lawyer, always available and very knowledgeable.’

‘CTSU is able to respond to our very demanding timings, having the flexibility to review priorities whenever necessary, without ever jeopardising the quality of the final work.’

‘Miguel Cordeiro stands out for his expertise in the area of funds.’

Key clients

Open Bank, S.A.


Elrond Network SRL


Work highlights


  • Assisted Openbank, a Spanish online retail bank operating in Portugal on a cross-border basis under the freedom to provide services mechanism (EU Passport), in the marketing of Investment Funds (UCITS) in Portugal which included the offering of a build your portfolio service catered to potential investors.
  • Advised Elrond on the acquisition of Utrust, a leading cryptocurrency payment solutions company.

pbbr - Sociedade de Advogados RL

Credit restructuring matters are a key area of expertise for the banking and finance team at pbbr - Sociedade de Advogados RL, which attracts instructions from a range of domestic and foreign clients from the financial services sector. The team is a popular choice for Spanish saving banks seeking assistance in transactions in Portugal, and is recurrently engaged in regulatory and compliance issues. Practice head Alexandre Jardim is active in acquisition finance and lending transactions in the real estate space. He receives support from Sofia de Sales Sousinha, who is devoted to banking law and real estate matters, and counsel Patricia Goldschmidt, who possesses significant experience in transactional work, corporate governance and compliance.


Practice head(s):

Alexandre Jardim


Other key lawyers:

Sofia de Sales Sousinha; Patriciaa Goldschmidt; Marco Pereira Cardoso


Raposo Bernardo

Raposo Bernardo‘s ‘excellent‘ banking and finance team is regularly instructed by international and Portuguese banks in an array of financing deals – most notably real estate, project and asset finance – and regulatory matters. On the transactional front, the team is also skilled in international credit operations and NPLs. The ‘incredibly responsiveNelson Raposo Bernardo is the main point of contact in the practice; he is proficient in both domestic and cross-border lending transactions.

Practice head(s):

Nelson Raposo Bernardo


Testimonials

‘Very knowledgeable of banking law and the banking sector, record response times, complete and focused answers on what we need, practical spirit and strong commercial sensibilities.’

‘The team is excellent, all the lawyers are of an above average quality. Nelson, who leads this area, is a great inspiration.’

‘They always demonstrate a strong ability to adapt in more difficult and pressured contexts, are agile and flexible in carrying out the work. In terms of the team, all lawyers are fantastic, very versatile, with a huge capacity for work and a great experience in international bank financing.’

‘I highlight the passion they put into what they do, the absolute commitment to provide us with the best service, the enormous speed of response, the deep legal knowledge of our sector and of the market.’

‘The quality of their work is fantastic, as is the quality of their lawyers.’

‘Nelson in particular is incredibly responsive, and always provides us with quality advice in record times.’

Work highlights


  • Advising a client on a refinancing through the restructuring of credits and bank financing of a Portuguese business group.
  • Assisting a client in an aviation finance transaction.
  • Acting for a client in the financing for the construction of six mini water dams, the network connections, and several other supporting infrastructure.