Arnold & Porter remains at the forefront of sovereign and sub-sovereign representation. It advises a range of state entities, including ministries of finance, central banks, state-owned companies, states, and municipalities. Clients include the Republic of Panama, Republic of Colombia, Republic of El Salvador, and Banco Central do Brazil. The firm’s longstanding commitment to Latin America has also brought it a number of private sector corporate and financial institution clients. It is also noted for derivatives, structured finance and securitisation transactions, including diversified payment rights deals. The core Latin America team features a number of senior and experienced practitioners that have specialised in the region for decades and speak fluent Spanish and/or Portuguese. Whitney Debevoise is a veteran of the region, having represented Brazil, El Salvador, Panama and Honduras on numerous capital markets offerings over the years. Gregory Harrington is similarly experienced with a large number of sovereign and multilateral development bank clients. Panama native Raul Herrera, and counsels Arturo Caraballo and Carlos Pelaez, are also key figures in the team. All named individuals are based in Washington DC. The practice was further boosted in September 2023 with the hire of capital markets, PE and M&A partner Carlos Lobo (formerly at Hughes Hubbard & Reed LLP) to the firm's New York office; the Brazilian-born Lobo should significantly enhance the firm's network of relations in the Brazilian market.

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Key clients

  • Republic of Panama
  • Corporación Andina de Fomento
  • Republic of El Salvador
  • Republic of Colombia
  • Brazilian National Treasury
  • Bolivarian Republic of Venezuela
  • Central Bank of Brazil (Banco Central do Brasil)
  • Inter-American Development Bank (IDB)

Work highlights

  • Advised the Republic of Panama in multiple transactions, including issuances of global bonds totalling $4bn, and an offer to purchase some $485m in global bonds.
  • Advised Bolivarian Republic of Venezuela under Interim President Juan Guaidó in connection with its external claims, restructuring and related matters, including asset protection and asset recovery matters, and related litigation.
  • Advised Republic of Colombia on the issuance of $1.62bn in global bonds due 2033, the first issue of international bonds since President Petro took office.

Lawyers

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Practice head

The lawyer(s) leading their teams.

Whitney Debevoise, Gregory Harrington