Rising Stars

Capital markets in Portugal

Linklaters

One of the main law firms advising in the Portuguese capital markets space‘, Linklaters has the experience and resources to handle complex debt and equity transactions on behalf of domestic and international clients. Debt instruments are a key area of focus for the department, which maintains strong relationships with listing authorities and regulators, and often works alongside the firm’s other international offices. Bringing together practitioners with extensive experience in cross-border deals, the team is also retained in derivatives and structured finance mandates, as well as matters related to public takeovers, private and public offers of securities and regulatory filings. On the regulatory front, the group further showcases strength in banking, financial institutions and collective investment schemes-related issues; several listed companies in Portugal also turn to the practice for assistance in corporate governance and ESG matters, including risk management and disclosure obligations. Chair António Soares – a leading figure in the market – ‘has unique knowledge and experience‘ of advising listed companies, investment banks, private equity houses and investors. Counsel Vera Ferreira De Lima, who handles the gamut of capital markets transactions, focusing on both equity and debt securities, is also part of the ESG cross-practice team.

Practice head(s):

António Soares


Other key lawyers:

Vera Ferreira de Lima; Válter Gouveia; Rodrigo Moreira


Testimonials

‘Extremely client-focused team with full availability and very detailed knowledge of the sector.’

‘One of the main law firms advising in the Portuguese capital markets space. Very experienced senior team with high technical capacity.’

‘António Soares has unique knowledge and experience in the national capital market. He is friendly and permanently available. Vera Lima is also recommended.’

Key clients

China Three Gorges Europe, S.A.


Novo Banco, S.A.


Semapa – Sociedade de Investimento e Gestão, SGPS, S.A.


REN – Redes Energéticas Nacionais, SGPS, S.A.


Morgan Stanley


Nomura Financial Products Europe Gm


Fidelidade – Companhia de Seguros, S.A.


Banco de Fomento Angola, S.A.


Deutsche Bank AG


Vision Box – Soluções Visão por Computadores, S.A.


BPCE, S.A.


Work highlights


  • Advised Citibank NA as sole arranger and senior lender in an over €250m financing for the acquisition of a portfolio of Portuguese REOs, which involved the conversion of the Portuguese Propco into a real estate investment company (SICAFI).
  • Advising BFA, acting as a financial intermediary, on the initial public offering (IPO) of Sonangalp – Sociedade de Distribuição de Combustíveis, Lda.
  • Acted for the French banking group BPCE in relation to an intra-group reorganisation of their subsidiary named Banco Primus in Portugal.

Morais Leitão, Galvão Teles, Soares da Silva & Associados

With a stellar reputation in the capital markets space, Morais Leitão, Galvão Teles, Soares da Silva & Associados is the trusted adviser to numerous Portuguese listed companies, investment banks, issuers and offerors of securities. The team is engaged in sophisticated, and often innovative, capital markets transactions, standing out for its impressive track record in deals involving debt, hybrid instruments and other securities. Despite the global downturn, the department remains active in this space; its recent workload features several share capital increases on behalf of leading corporates in a multitude of sectors, and sustainability-linked bond issuances. The firm, which is the only Portuguese player part of Euronext’s Techshare initiative, maintains strong relationships with offices in Angola, Cape Verde and Mozambique through its network, Morais Leitão Legal Circle, which makes it particularly well positioned to handle cross-border transactions involving Portuguese-speaking countries in Africa. Eduardo Paulino is recommended by clients and peers alike; he has a wealth of experience in equity and debt offerings, as well as public takeovers in the banking, telecoms and media segments. He oversees the team with Tomás Vaz Pinto, who also heads up the corporate group. Ricardo Andrade Amaro, a name to note for securities law, has advised on several initial public offerings (IPOs). Securitisations, hybrid products and derivatives are among Maria Soares Do Lago‘s areas of expertise. At the associate level, Marisa Larguinho stands out for her involvement in ECM and DCM matters.


Practice head(s):

Tomás Vaz Pinto; Eduardo Paulino


Other key lawyers:

Ricardo Andrade Amaro; Maria Soares do Lago; Marisa Larguinho; Isabel Carneiro Khalen


Testimonials

‘The firm provides highly specialised services and has in-depth knowledge of the matters in which it has been consulted. Its lawyers are available to respond quickly to any requests from clients.’

‘Eduardo Paulino, Maria Soares do Lago, and Marisa Larguinho are recommended.’

‘In addition to the expertise and experience in the area of ​​practice, the law firm in question has excellent knowledge of the sector of activity, which allows it to positively identify the client’s problems, any associated risks, usually presenting solutions adjusted to the real needs of the company, which effectively adds value to the business.’

‘Eduardo Paulino stands out.’

PLMJ

Noted for being ‘solution-oriented and focused on the client’s needs‘, PLMJ‘s capital markets team has a loyal following of Portuguese banks, international financial institutions and listed companies who instruct the team in the entire spectrum of transactional and corporate governance matters. The practice, which has recently expanded at the associate level, enjoys a strong reputation in the market for its frequent involvement in consequential equity and debt deals, ranging from IPOs, rights issues and takeovers to securitisations and derivatives. Department head André Figueiredo has advised on landmark capital markets transactions in recent years; besides his strong track record in both the debt and equity segments, Figueiredo is proficient in securitisations involving alternative asset classes. Seasoned in equity deals, Bruno Ferreira frequently works on complex transactional and regulatory mandates on behalf of companies and credit institutions. Gonçalo dos Reis Martins, who stands out for his securitisation knowledge, often assists international financial clients and Portuguese originators in cross-border deals. Raquel Azevedo is a key contact for investment banks and corporate governance matters, while recently promoted partner João Dias Lopes focuses on regulatory issues.

Practice head(s):

André Figueiredo


Other key lawyers:

Hugo Rosa Ferreira; Gonçalo dos Reis Martins; Bruno Ferreira; Raquel Azevedo; João Dias Lopes


Testimonials

‘PLMJ has the dream team in the financial sector from a transactional point of view, largely due to the rare combination of three [still young] references in the market: André Figueiredo, Bruno Ferreira and Gonçalo Reis Martins.’

‘Gonçalo Reis Martins is a lawyer with a curious international profile, with a background and transactional practice divided between the UK, Portugal and Mozambique.’

‘Solution-oriented and focused on the client’s needs.’

‘André Figueiredo and Bruno Ferreira stand out for their knowledge, experience, empathy, leadership skills and vision.’

Key clients

JP Morgan


European Investment Bank


DK Partners


Deutsche Bank AG


Lloyds Bank


KKR


Pioneer Point Partners


US Bank


Gulbenkian Foundation


Greenvolt (Portuguese Listed Company)


Citibank


Galp (Portuguese Listed Company)


REN (Portuguese Listed Company)


Altri (Portuguese Listed Company)


Impresa (Portuguese Listed Company)


TAP


ABANCA


IGCP (Portuguese Sovereign Debt Agency)


UBS


Haitong Bank


Work highlights


  • Advising Whitestar on the issuance of  €1,800m in aggregate principal amount of notes, pursuant to a New York law-governed indenture, which was followed by a purchase agreement.
  • Advising the banking syndicate coordinated by BNP Paribas and Santander, and which included CaixaBank, MedioBanca, JB Capital Markets and Caixa BI, on the capital increase of around €100m of Greenvolt – Energias Renováveis, a subsidiary of Altri.
  • Advising the Portuguese Treasury and Sovereign Debt Management Agency (Agência de Gestão da Tesouraria e da Dívida Pública) on the first issuance of government bonds by the Republic of Portugal in 2022.

VdA

VdA houses a seasoned capital markets team, which is recognised for its strong credentials in all types of security work, including the national and international placement of both debt and equity. The group, which is closely tied in with the banking and finance practice, acts for an impressive roster of financial institutions and major companies across an array of sectors. Noted for its track record in asset-backed securities and securitisation transactions, the team was recently engaged in the two latest IPOs executed in the country, and a number of market-first deals, including the first issuance of green and sustainability-linked bonds in Portugal. Recent highlights also saw the department advise on share capital increases and rights issuances by listed entities. Pedro Cassiano Santos marries in-depth knowledge of debt, hybrid and equity instruments with significant experience in securitisations and structured finance transactions. He manages the practice with key support coming from Hugo Moredo Santos, who is singled out for his wealth of experience in retail bond issuances. Equity capital markets is an area of focus for José Pedro Fazenda Martins, who also advises on the admission to listing of financial instruments in the Portuguese market. Tiago Correia Moreira, a key contact for fintech-related matters and financial services regulatory issues, is especially active in NPL transactions, while managing associate Orlando Vogler Guiné maintains a broad practice, covering securities issues, derivatives and undertakings for collective investment.

Practice head(s):

Pedro Cassiano Santos


Other key lawyers:

Hugo Moredo Santos; José Pedro Fazenda Martins; Tiago Correia Moreira; Benedita Aires; Orlando Vogler Guiné


Testimonials

‘Hugo Moredo Santos stands out.’

Key clients

Greenvolt – Energias Renováveis, S.A.


Arrow Global Limited; Christofferson Robb & Company; Whitestar Asset Solutions, S.A., Hefesto, STC, S.A.


Crédit Agricole CIB


Mota-Engil, SGPS, S.A.


Unicre – Instituição Financeira de Crédito, S.A.


Sport Lisboa e Benfica – Futebol, SAD


Haitong Bank, S.A.


Grupo Media Capital SGPS, S.A.


Oi, S.A.


Intesa


Arrow Global Limited


Brisa – Concessão Rodoviária, S.A.


Barclays Bank Ireland PLC and NatWest Markets N.V.


Banco Comercial Português, Caixa – Banco de Investimento, Crédit Agricole CIB and Deutsche Bank (as Joint Lead Managers)


Work highlights


  • Acted as legal counsel to GreenVolt in the issuance of 17,792,576 new ordinary, book-entry and nominative shares, without nominal value, representing approximately 12.785 percent of the share capital of GreenVolt following the full subscription of the c.€100m share capital increase and with a subscription price of €5.62 each, with subscription reserved to GreenVolt’s shareholders in the exercise of their respective legal pre-emptive rights and to other investors who have acquired subscription rights.
  • Advised Mota-Engil SGPS, S.A. and coordinated all parties involved in the public subscription offering launched by Mota-Engil representative of the bond issue denominated “Obrigações Ligadas a Sustentabilidade Mota-Engil 2021-2026” combined with two exchange offers.
  • Advised Arrow Global Limited and Christofferson Robb & Company on a complex English law financing restructuring transaction secured over a wide range of Portuguese assets, including non-performing loans (secured and unsecured), securitisation notes backed by non-performing loans, and SPVs (Project Fitz II).

Cuatrecasas

Singled out for its ‘in-depth knowledge of business and strong technical competence‘, Cuatrecasas is often called upon by an array of banks, issuers, institutional shareholders, securitisation vehicles, funds and investors looking for guidance in capital markets matters. The ‘top class‘ team – whose broad service offering encompasses debt and equity transactions, derivatives, structured finance and securitisation – is regularly engaged in cross-border mandates, benefiting from its close collaboration with the firm’s other offices across Europe. Over the last year the practice continued to be active in bond offerings (including green bonds), while on the equity side it advised on the issuance of shares and units of investment funds, rights offerings and takeovers. Senior partner Maria João Ricou leads the banking and capital markets group, where Manuel Requicha Ferreirais always on hand to solve problematic issues‘ in the context of equity stakes acquisitions, structured debt issues and securitisations. Paulo Costa Martins ‘stands out for his technical knowledge‘ and is a key contact for fund formation, public offers and private placements. Margarida Leal Oliveira is also noted for her experience in DCM work.

Practice head(s):

Maria João Ricou


Other key lawyers:

Manuel Requicha Ferreira; Paulo Costa Martins; Margarida Leal Oliveira; Francisco Soares Machado


Testimonials

‘The team is quite simply top class. What sets them apart from other law practices in this field is their in-depth knowledge of business and strong technical competence. Lawyers are extremely commercial in their approach and you can have complete confidence in their advice. In my view they are some of the best in the market currently and a pleasure to work with.’

‘Manuel Requicha Ferreira’s attitude to his clients is remarkably positive, he cares passionately about developing relationships, and is always on hand to solve problematic issues with practical solutions.’

‘International office with local flexibility.’

‘Paulo Costa Martins stands out for his technical knowledge and ability to manage the project and work.’

‘In-depth knowledge of transactions and efficient management of the relationship with the client and counterparties.’

‘I would like to highlight Manuel Requicha Ferreira for the ease and friendliness of contact and for his technical knowledge.’

‘They seek to understand the client’s questions so that they can then return with adequate solutions to the problems raised. In our relationship, we feel that there is an integration between the areas in case we need other topics that are not covered by our primary contact, and this is very important to convey confidence and to feel secure in solving any issue related to our needs.’

‘Paulo Costa Martins is our main contact at the firm and we are very satisfied with the services and attention provided.’

Key clients

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


Icade, S.A.


BigCity Holdco LLP


Binance


Servdebt


Groupement Les Mousquetaires


Grupo Pestana


Invesco


Portuguese Public Debt Agency


Bison Bank


Work highlights


  • Advising Banco de Investimento Global and Haitong Bank on the issuance and admission to trading of green bonds by Greenvolt Energias Renováveis.
  • Advising ICADE on the structuring and implementation of the acquisition by Icade Group of four private hospitals in Portugal through the acquisition of 100% of the participation units in the real estate fund Saudeinvest.
  • Advising ONEX Holding Limited in connection with the structuring and issuance of notes for funding the acquisition of a portfolio of five windfarms and for the refinancing of existing debt.

Uría Menéndez – Proença Carvalho

At Uría Menéndez – Proença Carvalho, lawyers are instructed on equity and debt capital markets work by listed companies, financial institutions and international investors in the Ibero-American market. Besides being a go-to choice for domestic and cross-border deals, the Lisbon-based team, which benefits from close ties to the firm’s headquarters in Spain, is also singled out for its robust regulatory capabilities and strong relationships with regulators, most notably the Portuguese Securities Markets Commission (CMVM). The practice is under the leadership of Carlos Costa Andrade, who oversees a mix of M&A, banking and capital markets mandates, the latter of which include takeovers, IPOs, structured bonds and other types of security. Miguel Stokes, who was recently promoted to partner, is a key member in the department; his main areas of activity range from privatisation procedures to structured finance, and initial and secondary equity and debt offerings.

Practice head(s):

Carlos Costa Andrade


Other key lawyers:

Miguel Stokes


Testimonials

‘High capabilities in a not very mature capital markets region. It also benefits from the capabilities of Uría Menéndez Spain from a structural point of view and the culture is quite similar to Spanish firms.’

‘Great knowledge of the market, and contacts with the regulator.’

Key clients

Morgan Stanley Europe SE and Citigroup Global Markets Europe AG


JB Capital Markets


Société Générale


Commerzbank Aktiengesellschaft


ActivTrades PLC


Azul Linhas Aéreas, S.A.


Tikehau Investment Management


Fastfiber, S.A.


IIBGroup Holdings, W.L.L.


Cofina, SGPS, S.A.


Rivercrown


Work highlights


  • Advised Morgan Stanley Europe SE and Citigroup Global Markets Europe AG on the €1.5bn synthetic accelerated book-built offering of shares of EDP Renováveis, S.A.
  • Advised ActivTrades Plc (a UK-based online CFD broker) on the incorporation of its Portuguese subsidiary and the regulatory authorisation procedure for a financial brokerage company, in order to maintain investment-services relationships with EU-based clients following Brexit.
  • Advised Tikehau Investment Management, SAS on the procedure to convert ZIP Reoco – the SPV used to acquire a 4,000-unit residential portfolio in Portugal – into a regulated SICAFI supervised by the CMVM.

CMS

CMS's capital markets group is highly involved in domestic and cross-border capital markets mandates, advising investment banks, international financial institutions, asset managers and large corporates on a host of transactional mandates. Debt capital markets work, including green and sustainable bond issuances, is a core focus for the group, which is able to draw on other strong practices within the firm, and provide ancillary expertise in the context of M&A, private equity, financial services regulatory issues and privatisations. Francisco Xavier de Almeida, whose notable areas of practice include bond issuances, takeover bids and NPL deals, spearheads the department, which also features Margarida Vila Franca, a key contact for public offerings and transactions involving the energy sector.

Practice head(s):

Francisco Xavier de Almeida


Other key lawyers:

Margarida Vila Franca


Key clients

Catella


Swen Capital Partners SA


Equistone Partners Europe


Société Générale


WElink Energy


Aquila Capital


Barclays Bank Plc


Caixa – Banco de Investimento (CaixaBI)


CPPIB


Goldman Sachs


Work highlights


  • Advising Aquila Capital Group on the issuance of bonds registered at Interbolsa.
  • Advising JLMs on Portuguese law matters.
  • Advising Equistone and the issuer on the issuance of convertible bonds.

Garrigues Portugal

Bringing together experience in both big-ticket capital markets transactions and regulatory matters, Garrigues Portugal attracts instructions from several listed companies in the telecoms, postal services, media and tech sectors, and Portuguese and international banks. Led by M&A, banking and finance, and capital markets specialist Diogo Leónidas Rocha, who is widely recognised in the market, the group is well placed to advise on complex equity deals and innovative debt offerings. Fellow co-head Marta Graça Rodrigues has a proven track record in landmark capital markets transactions in Portugal.

Practice head(s):

Diogo Leónidas Rocha; Marta Graça Rodrigues


Key clients

Merlin Properties SOCIMI, S.A.


Henderson Park


CTT – Correios de Portugal, S.A.


Novo Banco, S.A.


Banco Finantia, S.A.


JP Morgan Securities plc


DBRS Ratings Limited


BNP Paribas Securities Services


Novabase SGPS, S.A.


Haitong Bank


Lifento SaS


Keys REIM


Work highlights


  • Advised CTT on the structuring and launch of a second share buy-back programme.
  • Assisted Novo Banco in the first issuance of new shares of the Bank in favour of the Portuguese Government in result of the conversion of conversion rights held by the Government in respect of the DTAs for the year 2015.
  • Advised Lifento Sas on regulatory matters related to the process before the CMVM for the conversion of SADIOC into a SICAFI (a real-estate investment fund in corporate form) in the healthcare segment.

SRS Legal

Securitisation transactions, bond issuances and fund-related matters feature heavily on SRS Legal‘s busy workload, which is further populated by regulatory mandates. Instructions come from an impressive roster of international financial institutions, banks and issuers, who rate the team’s ‘high legal knowledge‘ and ability to provide ‘innovative solutions‘. William Smithson and Alexandra Valente jointly coordinate the practice, where João Santos Carvalho stands out for his involvement in structured finance, capital markets transactions and banking regulatory matters. Gustavo Ordonhas Oliveira is praised for ‘his deep knowledge of capital markets legislation‘.

Practice head(s):

William Smithson; Alexandra Valente


Other key lawyers:

João Santos Carvalho; Gabriela Rodrigues Martins; Gustavo Ordonhas Oliveira


Testimonials

‘SRS is a large, full-service law firm distinguished by the quality of its partners and the ability to provide teams of lawyers with high legal knowledge, motivated and with distinct interpersonal skills. Particularly in the area of capital markets, the way in which innovative solutions originating from international markets are framed in the context of Portuguese capital market legislation stands out.’

‘Gustavo Ordonhas Oliveira for his deep knowledge of capital markets legislation, willingness to solve problems and ability to develop innovative solutions within the current legal framework.’

Key clients

Oxy Capital


EDP


Sagres STC, SA


Rabobank plc


Sagres STC, SA


Carregosa, SGOIC


EDP


M&G


Barclays


Power Parity


Sérvulo & Associados

Best known for its ‘in-depth knowledge of legislation‘ and regulatory matters in the financial services segment, Sérvulo & Associados is a strong performer in the capital markets space, and is increasingly engaged in high-end transactional mandates, especially equity deals. Noted for being a ‘reference in the national market and, even more, in the space of digital assets‘, the firm has a strong fintech offering, and boasts further capabilities in private equity and investment funds-related matters. SÉRVULO LATITUDE – its international network of law firms – allows it to be present in cross-border mandates, particularly those with ties to Portuguese-speaking jurisdictions in Africa. The ‘highly regardedPaulo Câmara, who has a strong track record in multijurisdictional matters, and is singled out for his unparalleled regulatory knowledge, leads the finance and governance team alongside Manuel Magalhães. Verónica Fernández is a key point of contact for investment fund management companies and financial intermediaries; her expertise extends to the placement of debt instruments and securities issuing programmes. Francisco Boavida Salavessa is often retained by listed companies and investors for guidance in ECM and DCM transactions, while José Guilherme Gomes advises on corporate governance and compliance issue.

Practice head(s):

Paulo Câmara; Manuel Magalhães


Other key lawyers:

Verónica Fernández; Francisco Barona; Sofia Thibaut Trocado; Francisco Boavida Salavessa; José Guilherme Gomes


Testimonials

‘Sérvulo & Advogados is a reference in the national market and, even more, in the space of digital assets. We would like to highlight the high level of technical knowledge they have on the subject and the correct monitoring carried out throughout the process.’

‘Paulo Câmara, Verónica Fernández and José Guilherme Gomes stand out. The team demonstrated a high degree of friendliness, professionalism, availability, technical knowledge and commitment throughout the entire process.’

‘Sérvulo’s main quality is its in-depth knowledge of legislation and the private equity market. Additionally, the constant availability of the team is an outstanding factor in relation to other law firms.’

‘Paulo Câmara: highly regarded lawyer with availability for the client and demonstrates a deep knowledge of the legislation and the market. His experience gives the client a lot of security in his opinions.’

‘The in-depth knowledge of the legislation applicable to real estate investment funds and the financial area in general, as well as the excellent relationship and respectability they have with the national supervisory authority, the CMVM. The day-to-day availability for our topics and the celerity and professionalism that help us in the queried questions. Billing is very honest for the quality and time of responses.’

Key clients

FLEXDEAL SIMFE, S.A.


Banco de Cabo Verde / AGMVM


CREST CAPITAL PARTNERS – SCR, S.A.


FIDELIDADE – Sociedade Gestora de Organismos de Investimento Imobiliário, S.A.


EDP – Energias de Portugal, S.A.


Senseidata, S.A.


Banco Credibom, S.A.


BBVA – Instituição Financeira de Crédito, S.A.


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


EDP Comercial


Work highlights


  • Provides continuous support to Banco de Cabo Verde / AGMVM in assisting the Cape Verde capital markets regulator in updating the financial law framework and providing training to supervisors.
  • Advises EDP on regulatory duties and corporate governance.
  • Provides ongoing legal assistance to Fidelidade SGOIC including in the setting up and daily operation of the collective investment schemes under management.

Abreu Advogados

The ever-expanding capital markets practice at Abreu Advogados is particularly active in securitisation transactions, debt issuances and fund-related matters. OTC derivatives and regulatory issues are other areas of expertise for the team, which is called upon by a variety of market participants, including investment banks, real estate investment funds, venture capital companies, credit management clients and regulatory bodies, among others. The group is under the joint leadership of two partners: Diogo Pereira Duarte, who stands out for his knowledge of the regulatory framework applied to the financial services sector, and Rodrigo Formigal, who specialises in cross-border deals, including high-yield bonds. Ana Sofia Batista is also part of the core team.

Practice head(s):

Diogo Pereira Duarte; Rodrigo Formigal


Other key lawyers:

Ana Sofia Batista; Assunção Vassalo


Testimonials

‘In addition to the expertise and experience held in this area, the team has knowledge of the sector of activity in which the client operates, which allows it, at all times, to present solutions that, even with the identification of inherent risks, are more suited to the needs of the client thus adding value to the business. Rodrigo Formigal is recommended.’

Key clients

Banco de Investimento Global


Afifi Group


PRIO Group


Banco Português de Fomento


impactMarket


Efacec Group


BiG Mozambique Bank


Banco de Negócios Internacional (Europa) S.A.


Celuloso Beira Insdustrial (CELBI) S.A.


Work highlights


  • Assisted Banco de Investimento Global, as co-placement agent, in the public subscription offer and public exchange offers in the context of the issue by Mota-Engil, SGPS, S.A. of up to €140m notes, due in 2024.
  • Assisted Afifi Group in the subscription of Units in the AIF, Crest II.
  • Assisting CELBI as common representative of Debt holders in the issuance of Debt Notes ISIN PTBINIOM0004, ISIN PTBINJOM0003 and ISIN PTBINMOM0008 listed in Euronext Access.

Gómez-Acebo & Pombo

Issuers and banks frequently turn to Gómez-Acebo & Pombo's capital markets team, which is singled out for its 'competence, quality, personalised solutions, and availability'. Led by Mafalda Barreto and Miguel Castro Pereira, the latter of which marries significant experience in transactions with in-depth knowledge of financial services regulations in Portugal and abroad (including Angola, Mozambique and Cape Verde), the group is engaged by an array of clients in debt and equity transactions, as well as regulatory matters and filings before the CMVM. Of counsel Filipe Santos Barata handles a variety of mandates in the capital markets space; insurance, debt trading and refinancings are some of his core areas of activity.

Practice head(s):

Mafalda Barreto; Miguel Castro Pereira


Other key lawyers:

Filipe Santos Barata


Testimonials

‘Firm gives emphasis to competence, quality, personalised solutions, availability, meeting deadlines, transparency in billing and focus on the client.’

‘I highlight, given my personal experience, Filipe Santos Barata.’

MACEDO VITORINO

Domestic and international clients regularly turn to MACEDO VITORINO for advice on a range of capital markets matters, including debt transactions, derivatives and securities. Founding partner António de Macedo Vitorino, who has over 20 years of experience in financing deals, specialises in structured finance and securities law. He oversees the department with André Vasques Dias, who is sought out by banks and companies in relation to financing transactions and tax-related issues.

Practice head(s):

António Vitorino; André Vasques Dias


Key clients

Solaria Energia


Derovo


Work highlights


  • Advising Solaria Energia in connection with the financing of the construction of 4 PV solar projects.
  • Advised Derovo in connection with the issuance of bonds that will be subscribed by a Portuguese bank.

Raposo Bernardo

Lauded for its ‘strong legal know-how‘, Raposo Bernardo has ample experience in the capital markets space. The team continues to be instructed by an array of international banks and investment funds in both transactions and regulatory mandates. Managing partner Nelson Raposo Bernardo spearheads the group; he maintains a broad practice which besides capital markets also covers asset financing, banking and project finance.

Practice head(s):

Nelson Raposo Bernardo


Testimonials

‘Unique firm because of the way it combines strong legal know-how, with a capacity to provide services like no other Portuguese firm can.’

‘The firm’s main capabilities includes the efficiency and effectiveness in the work carried out, the response timing, which is immediate, the understanding and clarity of the answers and, the very high quality of the team of lawyers, who are always available to listen to us and meet our needs.’

‘Raposo Bernardo has been, over the last few years, the law firm that helped us achieve the best results. That’s why we consider it to be the one that best serves our goals and needs.’

‘They prepare all their interventions in detail, in order to guarantee that our interests are always safeguarded. They work methodically, in an organised manner and with great discipline, which allows them to more easily achieve the desired results.’

‘Nelson Raposo Bernardo is a great lawyer in the capital markets area.’

‘Nelson demonstrates superior intelligence, strategic vision, very refined sensitivity and complete dedication to clients.’

Work highlights


  • Advising a client as a capital markets placement agent in the assembly, organisation and general arrangement of a Dilutive Secondary Offering.
  • Advising a client on a securitisation transaction.
  • Advising a client on a debt security offering for a company in the real estate and hospitality sectors.