
Milbank's longstanding commitment to Latin America has provided a platform for a thriving capital markets practice. Much of the practice centres on energy and infrastructure-related transactions, a case in point being its advice to Saavi Energía on its inaugural $1.1bn bond offering. The Latin America team has extensive geographic coverage, from Mexico through to Colombia, Peru and Argentina. The firm has an established record in high yield, investment-grade, project bonds, corporate bonds and liability management transactions, along with IPOs and other equity offerings. The Latin America team is primarily known for its advice to initial purchasers and underwriters in large and complex deals, though it does also represent issuers on a regular basis. Marcelo Mottesi is chair of the corporate finance and securities group, and is co-head of the Latin America team, having focused on the region for many years. Carlos Albarracin is another prominent partner with an exceptional background in finance and capital markets deals throughout Latin America. Special counsels Andres Osornio Ocaranza and Gonzalo Guitart are additional Latin America specialists, along with Sao Paulo partners Tobias Stirnberg and Fabiana Sakai. Leading name Adam Brenneman significantly reinforced the team in May 2025, when he joined from Cleary Gottlieb Steen & Hamilton. Named individuals are based in New York unless stated otherwise.
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Key clients
- Saavi Energía
- Compañía de Minas Buenaventura
- Initial purchasers in connection with GeoPark Limited
- Initial purchasers and dealer managers in connection with Arcos Dorados
- Initial purchasers in connection with Banco Santander Mexico, Institución de Banca Multiple, Grupo Financiero Santander México.
- Initial purchasers in connection with Grupo Aeroméxico,
- Underwriters and dealer managers in connection with Ecopetrol
- Initial purchasers in connection with Banco de Galicia y Buenos Aires
- Niagara Energy
- Initial purchasers in connection with Norman Manley International Airport
- Metropolitan Municipality of Lima
- Initial purchasers and dealer-managers in connection with YPF Sociedad Anónima
Work highlights
Advised Saavi Energía on its inaugural offering of $1.1bn aggregate principal amount of 8.875% senior notes (due 2035), and its subsidiaries, Cometa Energía, and Tierra Mojada Luxembourg II, in their respective concurrent tender offers to buy back part of their outstanding senior secured notes.
Advised Compañía de Minas Buenaventura in connection with its offering of $650m 6.800% senior notes (due 2032), and its concurrent tender offer for any and all of its 5.500% senior notes (due 2026).
Advised the initial purchasers in connection with GeoPark’s offering of $550m aggregate principal amount of 8.750% senior notes (due 2030).
Lawyers
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.

Marcelo Mottesi
Leading associates
Leading associates with regular involvement in their team's key work, and recognition from peers or clients as being ones to watch.
Gonzalo Guitart
Practice head
Marcelo Mottesi
