Banking and finance in Puerto Rico

McConnell Valdés LLC

McConnell Valdés LLC acts for financial institutions in a range of financing deals, involving both public and private borrowers, and the firm also stands out for real estate finance. The team handles permitting and licensing processes, as well as sales and acquisitions; Ernesto Mayoral (a member of the corporate practice group) is an expert of such matters and co-ordinates the banking department. Vice-chair Rubén Méndez-Benabe assisted brokers, mortgage institutions and loan companies on a wide range of transactions. Examples of work include advising on the re-purchase of a portion of the Puerto Rico Highways and Transportation Authority by Autopistas de Puerto Rico, and advising Scotiabank de Puerto Rico in relation to the Puerto Rico Electric Power Authority (PREPA)’s PROMESA Title III proceeding.

Practice head(s):

Ernesto Mayoral

O'Neill & Borges

Leading firm O'Neill & Borges' banking and financial services group has significant experience in advising local and foreign banks, holding companies and financial institutions, among others. José Cacho focuses on transactions (including M&A, commercial lending and public finance), while Julio Pietrantoni is involved in the securities field (including advising on offerings of municipal securities and corporate debt). The team's skills in contractual, regulatory and compliance issues are also highly rated.

Pietrantoni Méndez & Alvarez LLP

Financial institutions, banks and holding companies turn to Pietrantoni Méndez & Alvarez LLP for its expertise in regulatory and transactional topics, including equity securities and structured notes, and experience in dealing with financial regulators. Eduardo Arias is a member of the team and focuses on US and local securities law. Iván Marrero represents corporate clients in private capital raising and financial restructuring processes, the renewal of credit facilities and the expansion of operations, particularly in Central America and the Caribbean.

Cancio Covas & Santiago LLP

The banking and finance team at Cancio Covas & Santiago LLP assists corporations as well as local commercial banks, investment banks and venture capital funds. Experts at developing financial products and issues of securities, the team of lawyers is led by Juan Ramón Cancio, whose finance practice focuses on - but is not limited to - asset-based financings, workouts and distressed credits.

Practice head(s):

Juan Ramón Cancio

Key clients

Banco Popular de Puerto Rico

GDB Debt Recovery Authority

Sociedad Española de Auxilio Mutuo y Beneficencia de Puerto Rico

Puerto Rico Tourism Development Fund (subsidiary of Government Development Bank for Puerto Rico)

Diquevestment Group, Inc.

Work highlights

  • Acted as local issuer counsel to the GDB Debt Recovery Authority in connection with the issuance of GDB Debt Recovery Authority Bonds due 2040.

DLA Piper Puerto Rico

With a focus on the representation of international financial entities and international banking entities, DLA Piper Puerto Rico provides its clients with advice on the formation of entities (in relation to corporate and tax matters, licenses and permits) and their operation (including advice on regulations and transactions). José Sosa-Lloréns and his team also assist banks and credit brokers in and outside Puerto Rico.

Practice head(s):

José Sosa-Lloréns

Key clients

Banco Popular de Puerto Rico

Puerto Rico Banking Association

Bancredito International Bank & Trust

Citibank, N.A.

San Juan Mercantile Bank & Trust International

FaceBank International Bank

Advantage International Bank

WTC International Bank

Activo International Bank

IU International Bank

Banco San Juan Internacional

New World International Bank

Work highlights

  • Representing multiple international banking entities in the process of organising and obtaining licenses for establishing operations in Puerto Rico.
  • Advising Biomass Green Fuels on corporate, tax, permitting and environmental matters, as well as energy regulation and project finance.

Ferraiuoli LLC

Assisting Puerto Rican, US and international banks, as well as alternative lenders, insurers and private clients, Ferraiuoli LLC's team showcases a broad banking and finance portfolio, with expertise in securitisation, e-commerce and financial regulation, among other areas. Practice head Jaime Mercado is particularly focused on regulatory matters, the prevention and mitigation of conflicts of interests, and public finance and PPP transactions. José Rovira chairs the commercial lending and corporate finance practice.

Practice head(s):

Jaime Mercado; José Rovira

Key clients

Ambac Assurance Corp.

Banco Popular

Banesco USA

Nissan Motor Acceptance Corporation

Scotiabank Puerto Rico

Synchrony Financial

Capital Crossing Servicing Company

TPG

Hudson Advisors

O’Brien Staley Partners

Work highlights

  • Acted as Puerto Rico counsel to Ares Capital Corporation in connection with the negotiation and closing of certain credit facilities granted to the main Puerto Rico waste management conglomerate.
  • Acted as counsel to Banesco USA in connection with the negotiation and closing of certain syndicated credit facilities granted by a group of lenders to a hotel investment conglomerate.
  • Acted as counsel to Popular Mezzanine Fund in connection with the negotiation and closing of certain mezzanine credit facilities granted to a for-profit operator of health care facilities to partially fund the acquisition of mortgaged property and related assets.

Goldman Antonetti & Córdova

International and local banks, mortgage lenders, credit unions and co-operatives are the main clients of Goldman Antonetti & Córdova's banking, finance and financial institutions team. While borrowers also turn to the team for advice, the department primarily focuses on lender-side representation, where it assists with capital financing, acquisition finance and project finance, among other areas. Thelma Rivera is chair of the corporate and banking law department and concentrates on M&A, asset securitisation and commercial lending transactions. Myrna Lozada-Guzmán has notable experience working with financial intermediaries, brokerage firms and venture capital funds.

Practice head(s):

Thelma Rivera