Criales & Urcullo remains a go-to firm for clients looking for advice on the Bolivian Stock Exchange. The team excels in the negotiation of different types of securities and the development of different forms of financing. Its impressive client roster includes international shareholders, companies, boards of banks and other key entities in the sector. Also counting the Bolivian Stock Exchange among its clients, the firm is involved in the drafting of regulations and legislation. With a strong background in the stock market, Javier Urcullo focuses his practice on the structuring of private national and international investments in Bolivia. Urcullo leads the team alongside Adrián Barrenechea, who stands out for his cross-border capabilities, advising on matters such as private securities issuances abroad and international public bidding processes.

A leading firm in the mining and infrastructure sectors, Dentons Guevara & Gutierrez advises on the financing of various construction projects, as well as hydrocarbons and electricity projects. Well versed in the latest Bolivian financial regulations, the team also provides regulatory and compliance advice to national and international financial institutions, including development and private banks. Three partners jointly lead the team: Ramiro Guevara has a strong track record in the debt and stock exchange markets; Enrique Barrios advises an impressive list of international development institutions, particularly on energy-related matters; and Jorge Inchauste is an expert in the national resources sector, advising on the structuring of investment and financing matters, debt issuances and guarantee agreements. At the senior associate level, Alejandra Guevara focuses on the drafting and negotiation of project finance and corporate contracts, and Belén Montes advises on financial and antitrust compliance. Associates Emil Jung, Rosario Echeverria, Gabriel Ortega and Daniel Ramírez are also active members of the team.

With the opening of its fifth office in Sucre in June 2023, Moreno Baldivieso Estudio De Abogados continues to strengthen both its national and international reach. Established as leaders in the banking and finance space, the firm counts multinational finance corporations and global development banks among its clients. The team advises on innovative transactions, including the first green bond issuance in Bolivia. With extensive experience in the banking and insurance sectors, Andrés Moreno leads the group. Practice co-head Teddy Mercado acts for a diverse roster of public and private companies, including multilateral financial organisations, banks and investment funds, on financing transactions, sovereign loans, lines of credit and collateral guarantees. Luis Moreno is an expert in finance and tax matters, with a strong background in advising start-ups and venture capital funds, and founding partner Ramiro Moreno also enjoys an established reputation in the sector. Senior associate Fernando Landa brings extensive experience in cross-border transactions, regularly handling multi-jurisdictional and multi-party matters. Associate Miguel Quezada advises private companies on due diligence and public bidding processes.

PPO Abogados draws on its vast expertise in the insurance sector to advise insurers and reinsurers on regulatory matters and M&A transactions. The practice has a strong background in cross-border transactions, with an impressive roster of local, international and multilateral banks. It also regularly represents clients in board and shareholder meetings. The team has a strong foothold in the payment and fintech sectors, advising global payment and Bolivian fintech companies on funds and new products and services. Carlos Pinto’s practice spans structured finance and corporate financing, from syndicated loans and secured financing to acquisition finance and debt restructuring. Lindsay Sykes brings extensive international experience to the team, regularly advising on cross-border transactions. Pinto and Sykes co-head the team, alongside Salomón Eid, who acts for a diverse range of clients, including multilaterals, investment funds and start-ups. Associate Ingrid Reese has a broad practice, spanning fintech, insurance, loans and financings.

Bufete Aguirre, Quintanilla, Soria & Nishizawa Sociedad Civil – (BAQSN)’s banking and finance team advises an ever-growing list of international clients, with a particular specialism in cross-border financings. The group is proficient in the structuring of project financing transactions, as well as the drafting and reviewing of loan and securities agreements and collaterals. With expert knowledge of regulatory issues, including those related to bankruptcy and insolvency, the team also carries out due diligence work for its diverse clientele of financial and micro-credit institutions. Practice co-head Eduardo Quintanilla regularly advises on foreign investment into Bolivia, particularly in the mining and energy sectors. He leads the team alongside Santiago Nishizawa, an expert in greenfield projects and loan structuring, and Ignacio Aguirre, who focuses his practice on financing, securities and restructuring. Associate Franco Piñero is another key contact.

Prominent in the financial regulation space, Ferrere provides regulatory advice to financial entities, broker dealers, investment funds, insurers, reinsurers and credit rating agencies. The firm’s banking and finance team has carved out a niche specialism within the sector advising clients on their interactions with the Bolivian government. Drawing on its global expertise, with offices located across Bolivia, Paraguay and Uruguay, the team advises its international client base on the structuring of financial instruments and the securing of guarantees in Bolivia. Diego Villarroel leads the group, specialising in project finance, banking regulation and capital markets. José Rivero acts for banking and fintech companies, and he boasts experience advising foreign reinsurers on registration and license renewal in Bolivia. Joining the team from the firm’s Uruguay office in June 2023, Santiago Rodríguez plays an active role in key transactions.

An active player in the Bolivian debt capital market, Indacochea & Asociados advises clients on bonds and promissory notes, share offerings, loan agreements and letters of credit. The firm’s banking and finance group also excels in cross-border financing transactions and continues to add international and multilateral clients to its roster, as well as advising an impressive mix of banks, stockbrokers, accountancy firms and fintech clients. Regulatory advice is another key area for the team, which demonstrates particular expertise in financial services and banking regulation. Leonardo Azurduy joined the practice as co-head in June 2023, bringing experience in international financing to the team. He leads the group alongside Mariana Pereira, who is an expert in matters related to the Bolivian Stock Exchange and local debt instruments. Ana Carola Muñoz has continued to bring in new clients, thanks to her experience in banking and capital markets transactions. Senior associate Maria Laura Paz demonstrates particular strength in bond issuances and Bolivian stock exchange share purchases. Maria Jose Martinez left the team in July 2023.

Specialising in stock market-related matters, Aguilar Castillo Love advises on the regulation of brokerage firms, fund administrators and financial institutions. The team also stands out for its knowledge of regulatory compliance in the payment system and fintech sectors. Based in Santa Cruz, José Carlos Bernal brings particular experience in advising financial services entities to the group. He heads the practice alongside Ismael Franco in La Paz, who is an expert in electronic cards and fintech matters.

Demonstrating particular expertise in the energy, natural resources and agribusiness sectors, Becerra de la Roca Donoso & Asociados S.R.L. advises its diverse base of national and international clients on the securing and granting of loans. The firm provides debt recovery services and regularly counsels companies through liquidation and dissolution. Mauricio Becerra de la Roca Donoso leads the banking and finance team, and has comprehensive knowledge of company structures and equity and debt capital market transactions. Manfred Arauz Olavarria specialises in the energy sector and is a key member of the team.

Asset financing is a key area of focus for C.R. & F. Rojas – Abogados, particularly within the aviation, maritime and agricultural sectors. The team’s clientele includes financial institutions and lenders, and it often advises on transactions with cross-border aspects. Practice co-head María Del Carmen Ballivián stands out for her niche expertise in aviation and maritime financing. She leads the team alongside Sandra Salinas, who advises a diverse mix of international companies, and Elizabeth Landivar, who focuses her practice on investment and disinvestments operations. Associate Mery Cuellar is another name to note.