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Uruguay > Banking and finance > Law firm and leading lawyer rankings

Editorial

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Who Represents Who

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Ferrere’s ‘excellent service and high levels of professionalism’ mark it as a ‘strong practice upon which big companies can rely’. Among its key attributes, sources highlight the firm’s ‘unrivalled knowledge of the banking industry and related businesses’, its ‘solution-oriented service’ and its ‘remarkable efficiency’. The group’s breadth of subject matter expertise is also impressive and it routinely handles corporate lending, banking M&A, project finance, capital markets and regulatory matters. Diego Rodríguez, who ‘provides precise and appropriate advice very swiftly’, heads the team and recently paired up with energy and project finance expert Gonzalo Secco to advise InterAmerican Investment Corporation (IIC) on two major refinancings, including the refinancing of the Campo Palomas wind farm through the issuance of a $135.8m B-bond. The same team also advised private fund Actis on the refinancing of a $130m project finance loan held by its wholly owned subsidiaries, Jolipark and Colidim. Geraldine Ifrán has ‘great expertise and experience’ and senior associate Sebastián Ramos is ‘extremely talented’.

Flexible’, ‘very experienced’ and ‘rigorously analytical’, Guyer & Regules’ comprehensive banking practice distinguishes itself through its ability to ‘innovate to adapt to clients’ ever-changing requirements’. Among the names to note, high-profile figure Nicolás Herrera is ‘simply number one in the banking area’ and co-leads the department alongside Nicolás Piaggio (‘deep knowledge of local and international markets and regulations’) and Álvaro Tarabal (‘a source of constant consultation and advice’). Piaggio had a banner year, which saw him lead several of the firm’s most significant deals, including advising Enjoy on its $300m international debt offering and acting as deal counsel on a $100m trust issuance by toll-road operator Corporación Vial del Uruguay. Florencia Castagnola combines ‘great negotiation skills with efficient and effective service delivery’ and acted with Piaggio to assist the joint bookrunners with a $1.2bn global bond offering by the Republic of Uruguay. The group also benefits from the senior expertise of Juan Manuel Mercant ¬(‘an excellent lawyer with a pro-business approach’), Diego Baldomir and senior associate Marcos Payssé.

Project finance is a sweet spot at Hughes & Hughes and the firm is also routinely involved in capital markets and restructuring deals. In a highlight example of its strength in infrastructure-related matters, group co-head Haroldo Espalter advised Invenergy Group on a $135.8m refinancing with IIC and the Inter-American Development Bank (IDB). Héctor Ferreira co-heads the group and advised Vicentin on a $115m pre-export financing with ING Bank. The sizeable department also includes Juan Carlos Oreggia Carrau and Bernardo Porras as well as younger lawyer Mariana Estradé, who was recently promoted to partner.

Jiménez de Aréchaga, Viana + Brause houses a broad banking and finance practice, which is particularly prominent in project finance, capital markets and restructuring deals. Highlights included projects specialist Fernando Jiménez de Aréchaga Jr’s advice to Fideicomiso Financiero Fondo de Deuda para Infraestructura en Uruguay CAF 1, a fund sponsored by Latin American development bank CAF, on the $86.7m financing of Uruguay’s second-ever PPP project. In another high-profile piece of work, Nicolás Herrera Alonso advised Creditel on an agreement with PREX, under which the former will commercialise electronic wallets issued by PREX with the Creditel label. Managing partner Fernando Jiménez de Aréchaga and non-equity partner Mariela Ruanova are also key contacts.

A ‘reliable firm’ fielding ‘very capable partners’, Posadas, Posadas & Vecino impresses with its ‘strong combination of transactional and regulatory expertise’. The practice acts for a broad base of financial institutions, institutional investors, broker-dealers and financial advisers, and has a strong showing in renewable energy projects. Recent headline work saw group head Tomás Gurméndez advise national utility Administración Nacional de Usinas y Trasmisiones Eléctricas (UTE) on the financing of a 70MW wind farm project, which involved a $44m IPO. On the lender side, Gurméndez advised the senior lenders on the $82m project financing of Sky Solar’s new solar farm in North Uruguay. Pablo Sequeira, who advised Bankinter on a $7m credit facility to Servicios Forestales Aprofor, is also highlighted.

The ‘responsive and well-staffed’ group at Olivera Abogados scores highly for ‘tailoring its service to clients’ specific demands’. Ricardo Olivera García heads the department and brings to bear a strong background in regulatory matters. The group also draws upon the senior expertise of Federico Rocca, who has ‘extensive knowledge of banking regulations and the key players in the industry’. Olivera and Rocca provide ongoing advice to the Electronic Stock Exchange of Uruguay (BEVSA) on all regulatory and corporate matters, with recent matters including advice on Salto Daymán’s $42m debt offering. Citricola Salteña, FICG Capital and Gastón Bengochea are also representative clients.

Bergstein’s finance practice sits within its corporate group and is known for its solid experience in capital markets, project finance and regulatory matters. The team acts for an impressive stable of major international finance entities, including BNP Paribas, China Development Bank and Deutsche Bank; it also acts for borrowers. Jonás Bergstein, Guillermo Duarte and of counsel Alejandro Hernandez are the names to note.

The banking and finance team at Bragard Abogados acts for a diverse spread of financial institutions, broker-dealers, institutional investors and multilateral organisations, with project finance and debt capital markets standing out as particular areas of expertise. Founding partner Jean Jacques Bragard is the key contact.

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