US law firms are benefiting from Iberian infrastructure and
capital markets investment in both North America and Latin America,
but there are doubts about whether such firms will pick up work
related to Latin American investment in Spain, Portugal and
Lusophone Africa
The US has been an attractive destination for Iberian investors
looking to generate new capital for almost a decade now. Spanish
firms such as BBVA, Banco Santander, Repsol YPF and
Telefónica have listed or the New York exchange while
Abengoa and Grifols are on NASDAQ. These include initial public
offerings (IPOs) and secondary offerings, such as 144a
offerings.
A number of US firms have benefited from this, especially the
New York capital markets teams. Davis Polk & Wardwell, for
instance, says it has represented every Spanish company listed on
the New York Stock Exchange. The deal flow remains robust too, with
recent examples including Abengoa Yield's $828 million
offering, Banco Popular Español's
