Corporate, commercial and banking in Puerto Rico

McConnell Valdés LLC

The powerhouse corporate group at McConnell Valdés LLC remains a market leader, utilising the experience of its team to advise national and multinational financial institutions and corporates, including Liberty Latin America, across such sectors as telecoms, financial services, aviation, fitness, professional services and insurance, on high-value, cross-border transactions. The practice assists with matters ranging from public-private partnerships for major infrastructure projects, restructuring and insolvency to government affairs, municipal financing, securities and M&A. The team is led by Rubén Méndez-Benabe, an expert in representing national banks, institutional lenders, financial institutions and borrowers in complex financings, and vice-chair Ricardo García-Negrón, who specialises in capital-raising transactions and securities regulatory compliance. Other key figures include Samuel Céspedes, who leads the M&A and corporate and public finance group, and Ernesto Mayoral, who brings strength to commercial real estate acquisitions.

Practice head(s):

Rubén Méndez-Benabe; Ricardo García-Negrón


Testimonials

What stands out is the depth of the team in the corporate practice area, and their expert knowledge of the matters on which we deal with them.

A very good combination of experienced lawyers and younger lawyers. Samuel Céspedes and Rubén Méndez are outstanding.

Key clients

Abertis Infraestructuras


Aerostar Airport Holdings


AmeriNational Community Services


Destilería Serrallés


FirstBank Puerto Rico


Guayacan Fund of Funds VI


Insigneo Financial Group


Liberty Latin America


Work highlights


  • Assisted with the issuance of limited partnership interests of a private equity fund of funds sponsored by Grupo Guayacán.
  • Assisted Insigneo Financial Group with the acquisition of Citi International Financial Services, a securities broker-dealer also licensed as an international banking entity in Puerto Rico.
  • Acted as Puerto Rican counsel to Liberty Communications Puerto Rico, as borrower, in the increase and assignment and assumption of an over $30.6m letter of credit facility.

O'Neill & Borges

O'Neill & Borges remains a force in the market, leveraging the experience of its team to advise on a diverse spectrum of corporate and banking matters. The firm’s active client roster includes banks, real estate firms, oil companies, insurers, leasing companies and corporates in the telecoms, media and construction industries. The practice’s full offering extends to M&A, restructurings and government contracts, public offerings, private placements of municipal securities, corporate stocks and bonds, as well as both investment company and asset-backed securities. Key figures include Alfredo Alvarez-Ibañez, who, in addition to major transactions, advises financial institutions on licensing and regulatory matters, and José Cacho, an M&A specialist who advises US and international clients on entry into the Puerto Rican market.

Pietrantoni Méndez & Alvarez LLP

Advising on complex transactions including M&A and management buy-outs, the market-leading team at Pietrantoni Méndez & Alvarez LLP assists corporates and boards of directors with a comprehensive range of matters across the practice area. These range from corporate governance, commercial lending, capital markets, government contracts, private equity and joint ventures to matters involving such sectors as construction, energy, financial services, government, hospitality, media and entertainment, insurance and real estate. Founding partner Manuel Pietrantoni brings expertise to public offerings and private placements of government and corporate debt securities and the sales and purchases of corporate assets. Other key figures include M&A specialist Eduardo Arias and Iván Marrero, who brings experience of representing clients before government and regulatory agencies in licensing and compliance matters.

Cancio Covas & Santiago LLP

Led by founding and managing partner Juan Ramón Cancio, who brings over 30 years of experience to the corporate and business arena, the corporate practice at Cancio Covas & Santiago LLP specialises in banking, municipal finance, health, securities and real estate law. Other key figures include Jorge Covas Mandoza, Carlos Santiago and Rodney Colón Ortiz, who, along with Cancio, handle a wide span of corporate and financial transactions, ranging from project finance to workouts and M&A.

DLA Piper Puerto Rico

The team at DLA Piper Puerto Rico coordinates with its US offices to advise national and multinational corporates and financial institutions (including UBS and Citibank), involved in high-value, multi-jurisdictional transactions. With an active client roster spanning the energy, infrastructure, financial services, government and tech sectors, the firm’s full offering covers such matters as M&A, debt financing, bank licensing and regulatory matters, project finance, public-private partnerships, and corporate and securities law transactions, in addition to private placements, fund formation, administrative law, spin-offs, and corporate reorganisations. The team is led by Puerto Rico managing partner Nikos Buxeda, who, in addition to international transactions, assists with the organisation of local mutual funds, private equity funds and distribution agreements. Other key figures include banking regulatory specialist José Sosa-Lloréns, deputy managing partner Miriam Figueroa, who brings strength to infrastructure and public law matters, and associate Adriana Pérez-Rentas.

Practice head(s):

Nikos Buxeda


Testimonials

Everything related to the stock market, banking and financial matters, as well as corporate issues, is handled impeccably by José Sosa-Llorens.

The team stand out for their knowledge, connections, mastery of the topic, and confidence and assertiveness in their strategies, approaches and actions.

DLA’s commerical and corporate team work very closely with each other and the client to accomplish the legal matter at hand. They have a strong bench of attorneys of various levels of seniority. They are responsive and practical in their advice.

Miriam Figaroa is a superstar. She works incredibly hard and is thorough, thoughtful and creative in her advice. We’re incredibly fortunate to have her on our team.

Nikos Buxeda has a broad range of legal knowledge and expertise, and provides practical problem-solving for us.

Key clients

Puerto Rico Aqueduct and Sewer Authority


Puerto Rico Public-Private Partnerships Authority


Puerto Rico Housing Finance Authority


FV Bank International


Crestline Direct Finance


FirstBank Puerto Rico


Puerto Rico Banking Association


RioBlanco Capital


Stonecrest Investment Management


LUMA Energy


Biomass Green Fuels


UBS


Nagnoi


Citibank


Work highlights


  • Advised Puerto Rico Aqueduct and Sewer Authority (PRASA) on the procurement process and negotiation of contracts with major US suppliers of automatised water meters and remote reading systems as part of PRASA’s plan to improve revenues and reduce technical losses.
  • Advised Puerto Rico Housing Finance Authority on the federal tax-exempt obligations in order to issue 4% low income tax credits.
  • Represented several funds managed by Crestline Direct Finance, through a special purpose vehicle, on the acquisition of 100% of the membership interests of the holding company of the B-Billboard Media group.

ECIJA SBGB

The corporate team at ECIJA SBGB leverages the bench strength of its global network to assist multinational corporates, commercial banks, government entities, non-profits and investors across such sectors as real estate, energy, financial services, manufacturing and logistics with day-to-day corporate operations, and high-value, multi-jurisdictional transactions. The firm’s full service covers matters ranging from M&A, joint ventures, corporate finance and estate planning to corporate governance and tax exemptions, as well as filings, reporting and regulatory compliance. The team is headed by managing partner Fernando Berio, who brings expertise to real estate pre-development activities, tax credit equity procurement and deal negotiation. Jorge Fernandez-Reboredo specialises in corporate advice and compliance monitoring, as well as real estate M&A at the retail and distribution level. The practice is supported by senior associate Milimar Landrón-Acevedo, who assists with the drafting of legal memoranda, contracts, agreements and opinions, utilising a background in risk management.

Practice head(s):

Fernando Berio; Jorge Fernández-Reboredo


Key clients

The Michaels Organization


Banco Popular de Puerto Rico


PRISA


Hispanic Housing Development


Acruva Capital Partners


Bahia Apartments


Montblanc PR Associates


Luis Ayala Colón & Sucres


New Fortress Energy


Aon Risk Solutions of Puerto Rico


Anthony Veder Group


GeneraPR


Caribe Pharmacy Management


IOR Partners


Aspen Surgical Puerto Rico


IQTek Solutions Puerto Rico


Capitol Bridge


Energeólica de Puerto Rico


Money Group


Work highlights


  • Facilitated access of New Fortress Energy to international markets to acquire capital for the development of infrastructure facilities and a micro fuel handling facility for liquified natural gas in the Port of San Juan.
  • Guided The Michaels Organization through establishing operations in Puerto Rico and identifying opportunities for the development subdivision.
  • Engaged to represent Caribe Pharmacy Management in the acquisition of the assets and operations of a locally owned retail pharmacy chain.

Estrella LLC

Estrella LLC channels the bench strength of its team to advise household-name multinationals including Walmart, The Home Depot and Microsoft involved in complex, multi-jurisdictional transactions. With a client base spanning such sectors as aviation, energy, retail, telecoms, financial services, manufacturing and media, the firm’s comprehensive offering extends to matter ranging from stock and asset purchases and sales, corporate governance, due diligence, joint ventures and restructurings to litigation concerning control disputes among business owners, directors and officers. The team is headed by Neysha Natal-Castro, who brings expertise in M&A, in addition to advising on industrial, agricultural and tourism tax incentive grants. Managing partner Alberto Estrella provides experience in commercial and contractual disputes, franchise law, premises liability, antitrust and business regulation, and administrative law matters. At the associate level, Mayra Artiles Fonseca, in addition to general corporate matters, assists with intellectual property, privacy law and data protection, and business immigration issues, and Alejandro García specialises in franchising. Special counsel José Meléndez Alfonzo joined in March 2022, having served as in-house counsel at Puma Energy.

Practice head(s):

Neysha Natal-Castro


Key clients

Wal-Mart Puerto Rico


COPA Airlines


Home Depot Puerto Rico


T-Mobile Puerto Rico


Puma Energy Caribe


Tix.By


Alten Energy


Airport Shoppes & Hotels


Refrigerama


USA Opportunity Income One


Microsoft Caribbean


Star Power Systems


Ballers Puerto Rico Sportsbook


Work highlights


  • Advised Puma Energy on the execution and carve-out of the Project Leopard transaction previously undertaken in conjunction with Macfarlanes, in order to establish a separate infrastructure division comprising Puma’s storage and terminals business in Puerto Rico.
  • Advised Infimed on its corporate and business model, providing legal advice and assistance with the preparation, drafting, and negotiation of sale of its psychiatrist and physical therapy medical practice.

Ferraiuoli LLC

Ferraiuoli LLC leverages the experience of its team to advise national and multinational corporates and financial institutions. The firm’s comprehensive service covers matters ranging from commercial lending and corporate finance, corporate governance, M&A and real estate to venture capital securities, capital markets, distribution and franchising, government contracts and procurement and insurance law, governance and fiduciary duties, private equity, commercial lending (particularly on the borrower side), complex contracts, and intellectual property law. Key figures include Fernando Rovira Rullan, who assists with multi-jurisdictional transactions, private equity, acting for borrowers on commercial loans, and intellectual property law; Jaime Mercado-Almodóvar, who heads the firm’s banking and financial services regulation and private equity and securities practices; and María Fernández-Ginorio, who specialises in corporate real estate matters.

Cancio, Nadal & Rivera

With its combined corporate and real estate offerings, the team at Cancio, Nadal & Rivera provides a comprehensive service, assisting clients with M&A, real estate development reorganisation, and commercial and construction lending and corporate finance, in addition to advising on corporate governance, distribution and franchising agreements, partnerships and joint ventures, and tax matters. Rubén Medina-Lugo brings over 30 years' experience of managing corporate and real estate financings and transactions. Frederick Martínez handles banking regulatory compliance, as well as the structuring and negotiation of various stock and asset purchases and sales across such sectors as tourism, retail, healthcare, insurance, education and manufacturing. Another key figure is seasoned special of counsel Ana Ruiz-Comas.