Despite higher interest rates over the last two years, there remains substantial demand for financing transactions in Latin America, including refinancings. Like other parts of the world, there has been growth in private credit financings in the region, while debt restructurings remain a significant feature of the market. Energy and infrastructure financings continue to be a major source of business for international firms, as Latin America seeks to secure conventional, renewable and energy transition sources of power. The region is also building out its broader infrastructure, notably road, rail and ports, along with a substantial uptick in digital infrastructure projects. Although new market entrants are few and far between, and significant lateral partner moves have not occurred in the last year or two, the merger of Allen & Overy and Shearman & Sterling to form A&O Shearman in May 2024 has impacted the market with two strong legacy teams combining to become a true leader.

A&O Shearman brings together two highly-rated Latin America teams from legacy Allen & Overy and Shearman & Sterling. The May 2024 merger of the firms means the combined entity is at the forefront Latin America financings and restructurings, and has extensive connections agency lenders, commercial banks, corporate borrowers, private equity sponsors and sovereign wealth funds. The large Latin America team is a leader on financings in Mexico, Brazil, Chile, Peru, Colombia and Paraguay, along with other markets such as Panama and the Dominican Republic. It is widely recognised for expertise in the energy transition (including green-hydrogen financings), renewables and digital infrastructure sectors, along with critical minerals. It has also achieved further growth in sustainability-linked loans and remains a force in refinancings. Denise Grant is a leading name in acquisition finance and corporate loans with an extensive record across the region. Cynthia Urda Kassis is global co-head of projects, energy, natural resources and infrastructure, with a major focus on Latin America’s mining and metals sector. Augusto Ruiloba is dual qualified in New York and Peru, impressing in power and mining financings in Chile, Panama and the Dominican Republic. Promoted to the partnership in July 2023, Robert O’Leary has a background in renewable energy, natural gas, natural resources and transmission financings. Dorina Yessios is US co-head of energy, infrastructure and natural resources, and remains noted for renewables and digital infrastructure financings. Washington DC partner Sami Mir (appointed as a Latin America-practice co-director in August 2024, along with Grant) is key to the firm’s agency-lender relationships, especially IDB Invest, and has an extensive record in Latin America. Todd Koretzky and Ally de Padua are key partners in acquisition and leveraged finance; both advised the lead arrangers and a consortium of Peruvian and non-Peruvian banks on the syndicated financing for KKR’s proposed acquisition of a majority interest in PangeaCo and the existing fiber optic networks of Telefónica del Perú and Entel Perú. Bruno Soares has left the firm. Named individuals are based in New York unless stated otherwise.

 

Cleary Gottlieb Steen & Hamilton is a market leader in distressed financings, refinancings and restructurings, most notably in Brazil and Mexico, where it has a significant market share of the major engagements. The firm has also led the way in Chile and is increasingly active in Peru. Building on its expertise in restructurings, it is now at the forefront of private credit financings in Latin America. It also has a presence in high-value syndicated loans for large Latin American corporates and continues to make a further impression in sustainability-linked financings. The Brazil office continued to work on numerous large-scale restructurings and distressed financings during in the jurisdiction during 2023; a case in point being its advice to Samarco Mineração on its continued debt restructuring and its pre-petition, pre-export, finance facilities. ‘Rainmaker‘ Richard Cooper is a leading practitioner in debt restructurings and new money financings in Latin America, while Sao Paulo’s Francisco Cestero is 'extremely friendly, smart and has a unique understanding of the Brazilian market and culture', and is noted for distressed financings, private credit financings and restructurings. Adam Brenneman is also noted for special situations financings and liability management exercises. Carina Wallance is a key figure at counsel level, while David Botter joined from Akin in 2023 to reinforce the firm’s restructuring expertise. All named individuals are based in New York unless stated otherwise.

Clifford Chance LLP remains a dominant force in Latin America banking and finance, thanks in large part to its close connections to leading development finance institutions (DFIs), multilateral agencies (MLAs) and export credit agencies (ECAs). This is complemented by a lengthy list of commercial lender clients. Although it has successfully targeted the major markets of Mexico, Brazil, Colombia and Chile, the practice has also demonstrated a commitment to smaller jurisdictions such as Guatemala, El Salvador, Nicaragua and the Dominican Republic. In addition to a plethora of new money financings, the firm has also achieved a strong position in debt restructurings and refinancings, including those in the aviation sector. It has achieved additional prominence in ESG and sustainability-linked financings. Fabricio Longhin is a partner in the Americas energy and infrastructure group, a top-rated practitioner in project financings throughout Latin America, including toll road financings in Colombia, along with other transport infrastructure and renewable energy financings in multiple jurisdictions; he is also noted for acquisition financings in the energy and infrastructure sectors. Jessica Springsteen, a Peruvian-American, is another key member of the team, recognised for her expertise in renewables and energy transition financings, including green hydrogen and battery storage projects. New York partner Hugo Triaca  is a pivotal member of the Latin America team, showcasing extensive expertise in debt financings and capital markets transactions. Counsel Alberto Haito is another senior member of the practice, often taking leading and key support roles in major energy and infrastructure financings, including those by DFIs, agencies and commercial lenders. Named individuals are based in Washington DC unless stated otherwise.

Milbank is a major force in energy and infrastructure finance with an unrivalled reputation in acquisition financings in Latin America, buoyed by the firm’s blossoming M&A and private equity practice in the region. It advised the joint lead arrangers on the $2.2bn syndicated bridge credit facility for Millicom International’s acquisition of the 45% interest in Tigo Guatemala previously owned by minority owners, and represented the lenders in the $200m financing for Grupo Lamosa’s $260m acquisition of the flat ceramic division of Grupo Roca.  Much of the growth in the practice centres on energy transition, renewables and digital infrastructure. It has achieved high levels of activity in Mexico, along with Chile, a key jurisdiction for many years, and Brazil, where it continues to be a key player in oil and gas financings. Colombia and Peru are also key jurisdictions for the team, which features a number of fluent and native Spanish speaking attorneys and a high degree of specialisation in the region. Carlos Albarracin is a key figure in bank finance and capital markets, building a fine reputation in acquisition finance and project finance. Jaime Ramirez and Roland Estevez have a major focus on Latin America energy and infrastructure finance, and have continued to elevate their reputations in recent years. Dan Bartfeld is chair of the global project, energy and infrastructure practice, is co-chair of the Latin America team and has a long history in headline and landmark Latin America financings in the energy and infrastructure sectors. Carolina Walther-Meade is another key partner in oil and gas, infrastructure, mining and energy project financings.

White & Case LLP's strong commitment to Latin America has led it to advise on a major pipeline of financings in countries across the region. Unusually, much of its Latin America financing capability is based in Miami, along with New York and Houston. It continues to lead the field in loans to financial institutions, airline restructurings and financings in the energy, power and infrastructure sectors. It has close links to multiple international banks, along with DFIs and agency lenders, though is also known for its extensive borrower client base. The firm has formidable banking and finance teams in New York, Miami, Houston, Mexico City and São Paulo; and the practice continues to advise on large financings in Brazil, Mexico and Central America, while enjoying further growth in Peru transactions. New York partner Sabrena Silver has vast experience in Latin America financings, including structured financings, acquisition financings, bridge loans, private equity financings and restructurings. John Anderson is a pivotal figure in São Paulo, where he has an extensive record in acquisition financings, bilateral and syndicated loans, trade finance and restructurings. Anna Andreeva is making a further impression in corporate loans, acquisition financings and restructurings, leading on many of the firm’s top deals. Carlos Viana has an outstanding record in energy, power and infrastructure financings, along with Sean Goldstein, who combines project finance expertise with extensive project development acumen. Houston based Adrian Leal impresses at associate level. Named individuals are based in Miami unless stated otherwise.

Davis Polk & Wardwell LLP has a big reputation in Latin America, primarily through its leading capital markets practice, although it is also a major force in banking and finance. Much of the practice centres on leveraged and investment-grade lending, structured finance and project finance. The firm has achieved further recognition for its expertise in acquisition finance, notably advising the sole arranger and bookrunner in connection with a $1.2bn committed acquisition bridge financing for Minerva to acquire the beef processing assets of Marfrig Global Foods in Brazil, Argentina, Chile and Uruguay. It has strong Latin America finance expertise across its New York, Washington DC and Sao Paulo offices. New York-based James Florack is co-head of the global finance practice and leads the Latin America finance department. Head of the Latin America group Manuel Garciadiaz and Maurice Blanco are best known for capital markets transactions, although each also has a fine record in structured and project financings, and debt restructurings; both split their time between Sao Paulo and New York. Based in Sao Paulo since 2003, James Vickers is an experienced name in structured finance, leveraged and investment-grade lending, and project finance. Washington DC-based David Penna joined the firm from Latham & Watkins LLP in 2023, providing additional firepower in Latin America energy, power and infrastructure financings.

DLA Piper LLP (US) has significantly expanded its US-based Latin America team, including those in the banking and finance field. It is now a more powerful force in cross-border financing and corporate lending transactions, including cross-border secured financing, structured finance and securitisation, revolving and secured credit facilities, syndicated lending, acquisition finance, and project and infrastructure finance. New York and Miami-based Robert da Silva Ashley joined in 2023, and has brought extensive acquisition finance and project finance expertise to the team; he is a Portuguese speaker and has an impressive record in Brazil and Mexico financings. Bruno Soares, the former head of A&O Shearman's São Paulo office, followed in 2024, bringing further project finance expertise with a focus on Brazil and the wider region; he now leads the firm’s Sao Paulo office. The broader team now represents a range of Latin American borrowers, international lenders and a growing number of European sponsors. Private credit is another expanding area for the team, which also has an established record in large-scale debt restructurings. With deep connections in the region and an outstanding record in project finance, New York partner Margarita Oliva Sainz de Aja leads the Latin America banking and finance team. San Juan’s José Sosa-Lloréns and San Diego partner Raul Farias are also key figures.

Latham & Watkins LLP has an outstanding record in energy and infrastructure finance. It continues to work on big-ticket acquisition financings and project financings, remaining at the forefront of highly structured transactions and hybrid transactions involving bank and bond debt. It has led the field in leveraged and acquisition finance, continuing to advise a raft of financial sponsors and their portfolio companies, along with multiple corporate borrowers and bank lenders. The practice has made a further impression in digital infrastructure financings. Special situations and restructuring specialists also play a key role in the success of the Latin America practice. Antonio Del Pino is chair of the Latin America team, bringing extensive expertise in a range of practice areas, including acquisition finance and project finance. Guido Liniado has a background in energy and infrastructure finance, including project finance, acquisition and leveraged finance, multi-source financings and structured finance. Washington DC’s Carlos Ardila, promoted to the partnership in 2023, is another experienced figure in energy and infrastructure finance, including acquisition financings, as is counsel Marcela Ruenes, who has extensive knowledge of the Mexico and wider Latin America market. San Diego partner Sony Ben-Moshe has vast experience in leveraged and secured financings in Latin America.

Mayer Brown has a formidable record in Latin America banking and financing transactions, bringing a wealth of diverse expertise across the field. Through its New York, Chicago and Washington DC offices, in particular, it is able to offer extensive resources to Latin America financings, coupled with the firm’s well-established team in Mexico City and its presence in Brazil via an association with Tauil & Chequer Advogados. The practice remains at the forefront of structured financings,and demonstrates strength in acquisition finance, project finance and other primary financing segments. The firm has dominated the market in future flow financings, warehouse financing, and supply chain and trade finance; additoinally working on a major share of diversified payment rights financings in Latin America. It is also noted for its experience in fintech sector financings. Based in Chicago, Douglas Doetsch is head of the Latin America/Caribbean practice and is a key member of the banking and finance practice; noted for infrastructure financings, he is also a leader in cross-border securitisations, especially future cash flow securitisations. Washington DC’s Gabriela Sakamoto is another pivotal member of the team with an established record in project finance, structured finance and acquisition financings in Latin America. Admitted to practice in Colombia, New York and Illinois, New York partner Juan Pablo Moreno is a prolific Latin America specialist, having advised on multiple financing structures across a variety of jurisdictions.

 

Norton Rose Fulbright continues to stand out for its strong Latin America banking and finance team, spread across its São Paulo, Mexico City, New York and Washington DC offices. The group covers a range of financings, including acquisition finance, aviation finance, project finance, structured trade finance, and restructurings. The multilingual team features a large number of Spanish and Portuguese speakers, including those for whome these are their first languages. The group is particularly known for its formidable team in São Paulo and a Washington DC-based team that represents a range of agency lenders. Moreover, Raquel Bierzwinsky splits her time between New York and Mexico City, and has extensive experience in Mexico energy sector financings, along with transactions in Colombia, Peru, Chile and Argentina. Charles Johnson ('really gets his hands dirty') heads the São Paulo office, where he has been based for over 20 years; he has an outstanding record in structured trade, project, asset and development/export credit agency financings and financial restructuring work. Michael McCourt is another impressive practitioner with experience in trade and structured finance, leveraged and acquisition finance, and debt restructurings. Daniel Spencer is also noted for energy and infrastructure finance, while Washington DC-based Sarah Devine  and Jeremy Hushon are prominent figures in agency-lender engagements. Counsels José Cobeña and Diego Brandão ('incredible lawyer'), along with senior associate Cameron Royse, are also key members of the practice. Named individuals are based in São Paulo unless stated otherwise.

Proskauer Rose LLP's Latin America team is largely spread across its New York and São Paulo offices; its substantial São Paulo office has a number of senior banking and finance specialists, qualified both in the US and UK. Expertise ranges from pre-export finance, acquisition finance and project finance to syndicated term and revolving loans, hedging and derivatives. The 'very strong team with a deep expertise in Brazil', represents an impressive number of Latin American corporates, financial sponsors and international lenders. New York-based Carlos Martinez heads the Latin America group, specialising in a variety of practice areas, including banking and finance, and restructurings. Splitting his time between São Paulo and New York, Antonio Piccirillo 'has extensive experience in this field and it shows'; he is 'a top-notch attorney' who acts for both lenders and borrowers. São Paulo’s David Fenwick and Fábio Yamada (noted for his expertise in pre-export financings and 'a go-to partner for all banking and finance matters'), are also key members of the department.

Simpson Thacher & Bartlett LLP routinely advises big institutional lenders such as Morgan Stanley and Goldman Sachs, along with a number of regional banks, and a growing number of private credit funds and alternative lenders, including Gramercy Funds Management. A case in point was the Latin America team's representation of Gramercy and Compass Group on their financing of Lenus Capital Partners’ 100% acquisition of the Medicadiz Hospital in Ibague, Colombia. The practice also represents a range of Latin American borrowers, and acquisition finance, asset-based financings, structured export financings, project finance and out-of-court restructurings are all particular fortes for the sizeable Latin America team, which counts Brazil, Chile, Colombia and Mexico among its key markets. Juan Francisco Méndez is a senior member of the Latin America team with a major focus on capital markets offerings and banking and finance, such as advising the lenders on a new $60m credit line for Andean Telecom Partners. Dual-qualified (Argentina/New York) Juan Naveira is also active in banking and finance, including private credit, and energy and infrastructure financings. Sao Paulo office head Grenfel Calheiros is key for Brazil financings; while Gabriel Silva joined the team in 2023 to reinforce its presence in digital infrastructure transactions, including the financing of data centre developments. Senior counsel Kirsten Davis is also highly-rated. Named individuals are based in New York unless stated otherwise.

Skadden, Arps, Slate, Meagher & Flom LLP has a longstanding focus on Latin America, which includes a history of big-ticket banking and finance transactions. The practice group continues to have a broad geographic scope, substantial client base of borrowers and lenders, and an extensive record in corporate loans, acquisition finance, project finance, refinancings and restructurings, among other transactions. It remains at the forefront of industry trends, including ESG and sustainability-linked loans; and recently advised the lenders on the $700m ESG term loan financing to Empresas Publicas de Medellin, the first sustainability linked facility for a Colombian quasi-governmental entity. Alejandro González Lazzeri is a recognised leader in Latin America banking and finance, having advised on many of the standout financings in the region over recent years. Counsel Jose Nicolas Perez-Sierra is an additional Latin America financing specialist of note.

Arnold & Porter is a leader in sovereign finance, representing a range of ministries of finance and central banks, state-owned companies, states, and municipalities. It also advises a growing number of private sector corporates and financial institutions, including Latin America-based banks. The firm is at the forefront of derivatives transactions, structured finance and securitisations, including diversified payments rights (DPR) deals. The Latin America team has worked on a series of ISDA master agreements and swap arrangements for sovereign entities and has also advised Latin American banks on regulatory compliance matters. It is additionally noted for pre-export and commodity finance. Based in Washington DC, Gregory Harrington  is co-head of sovereign finance, with Whitney Debevoise also having a long history in the sovereign finance field. New York-based Christopher Willott is an experienced figure in bank lending and project finance transactions, and has made a further impression in sustainability-linked financings.

Baker McKenzie LLP has long enjoyd an all-but-unrivalled presence on the ground in Latin America, but the hire of a senior team led by the much-celebrated Michael Fitzgerald from Paul Hastings LLP in 2023, has nevertheless made a considerable difference to its standing - as well as significantly augmenting its New York office. The group has made a particular impression in restructurings and bankruptcies, including the use of exchange offers. It is also active in a range of new money financings, including sustainability-linked loans. Although the high-profile New York-based team is primarily focused on Mexico, it is working with the wider firm to target Colombia, Brazil, Argentina and Peru to a greater degree. Along with Fitzgerald, Arturo Carrillo and Joy Gallup have a fine record in liability management exercises and debt restructurings, with Pedro Reyes and Steven Sandretto (who joined from Greenberg Traurig LLP in 2023 and previously worked with the legacy Paul Hastings LLP group), providing additional senior expertise.

Dechert LLP is a leader in large-scale debt restructurings in Latin America. Most recently, the practice has centred on bankruptcy and insolvency proceedings, out-of-court restructurings and financings in Mexico, Brazil, Chile, Puerto Rico and Argentina. Recent matters include a series of major liability management, Chapter 11, Chapter 15 and Title III reorganisation engagements in the region and on which it has represented a range of bondholders, creditors and debtors. Allan Brilliant is co-chair of the global restructuring practice and has a fine record in Latin America matters, including LATAM Airlines’ Chapter 11 case. David Herman is another key member of the financial restructuring group and also has experience of Latin America cases. Isaac Stevens impresses at associate level.

Greenberg Traurig LLP has an outstanding reputation for its commitment to Latin America, which includes debt finance and financial regulatory matters. It continues to be active in energy and infrastructure financings, especially in Mexico where the firm benefits from a substantial Mexico City office. The core team is based in Miami and is increasingly active in assisting Latin American financial services businesses establish themselves in Florida or elsewhere in the US. It also represents a range of international financial institutions in connection with compliance and licensing matters in multiple jurisdictions. Marina Olaman-Pal is a leading figure in fintech and digital payments, while Emilio Alvarez-Farré is a senior name in energy and infrastructure financings, particularly in Mexico.

Holland & Knight LLP has ‘extensive knowledge of the markets‘ and ‘extensive experience in all types of financing‘, with an established record in syndicated lending, aviation finance, acquisition finance, project finance, structured finance and securitisations, and trade finance. With the Latin America banking and finance team spread across its New York and Miami offices, it is making further progress in sustainability-linked financings and in syndicated loans to financial institutions. The firm has close links to major commercial banks, agency lenders and DFIs in the Latin American market such as Banco Latinoamericano de Comercio Exterior (BLADEX) and IDB Invest, along with financial sponsors and Latin American borrowers. New York-based Stephen Double is a big name in syndicated lending and ESG-linked financings. Norberto Quintana (‘brings a lot of experience to the table‘) is also recognised for his depth of experience in energy and infrastructure financings, along with debt restructurings. Lara Rios (‘stands out for her technical mastery of negotiation and her dedication to the client‘) is another key partner and is becoming increasingly prominent in the market. Named individuals are based in Miami unless stated otherwise. Since research concluded the firm has further strengthened the practice group with the September 2024 hire of corproate and structure finance specialist José Tadeo Martínez, an ex-BID external advisor, to its Washington DC office.

Hughes Hubbard & Reed LLP has a long history in Latin America syndicated and bilateral loans, with a particular focus on acquisition financings, trade finance, project finance and financial restructurings. Brazil is its primary market. Loans to financial institutions are also a forte for the team. Emilio Saiz is now chair of the Latin America group and head of the Miami office; he is the key partner for Latin America financings following the retirement of Amy Dulin. Mark Denham remains a key figure in aviation finance, airline debt restructurings and debtor-in-possession (DIP) financings. Former chair of the Latin America team Federico Goudie has left the firm.

Hunton Andrews Kurth LLP continues to make considerable progress in representing commercial and agency lenders in Latin America financings, while also expanding its borrower client base. It is the 'go-to law firm for development finance institutions based in Washington DC' and recently advised IDB Invest in relation to multiple financings to Latin American financial institutions. The firm also frequently advises Latin America-based banks in connection with accessing funding. It  remains at the forefront of financings in the digital infrastructure sector and impresses in the wider energy and infrastructure areas, including the financing of desalination plants and other major projects; it advised the lenders on the financing of Corporación Nacional del Cobre de Chile’s (Codelco) desalination plant in Chile. Fernando Alonso is chairman of the Latin America team and has an established record in big-ticket financings. Washington DC-based Vera Rechsteiner is key to many of the firm’s agency lender relationships, along with Uriel Mendieta and Washington-DC’s Alejandro Silva, who has close connections to the International Finance Corporation (IFC), having previously been assistant general counsel at the organisation. Named individuals are based in Miami unless stated otherwise.

Linklaters LLP has an established record in representing financial institutions and corporates in financings under New York law. It is noted for corporate financings, acquisition finance, project and infrastructure finance, and trade finance. The team is also active in US private placements to finance energy and infrastructure projects in Latin America, and is further recognised for its diversified payments rights transactions expertise. The department advises many of the leading bank lenders involved in the region, along with a growing cohort of private credit funds and alternative credit providers. Michael Bassett is a banking partner in New York with a major focus on the Latin America region, particularly energy and infrastructure-related financings. Conrado Tenaglia is co-head of the Latin America team and provides extensive Latin America expertise and contacts. Sao Paulo partner Matthew Poulter has a background in bilateral, syndicated and structured credit facilities, and infrastructure finance transactions. Alejandro Gordano has left the firm. Named individuals are based in New York unless stated otherwise

Morgan, Lewis & Bockius LLP has an outstanding presence in acquisition finance, syndicated and bilateral loans in Brazil and across Latin America. Much credit goes to the experienced and prominent New York partner Thomas Mellor, who has close connections to HSBC, ING and other major lenders. He and the team frequently represent HSBC in new money financings and restructurings; the firm has an established record in bankruptcies and restructurings in Latin America. Mellor is also developing the firm’s standing in private credit and alternative lender transactions, and in litigation funding arrangements. Houston based John Crespo, Felipe Alice and Humberto Padilla Gonzalez provide further senior expertise, particularly in energy and infrastructure financings. Hartford’s Daniel Papermaster and London partner Carter Brod are also active in Latin America financings, including private placement transactions.

Winston & Strawn LLP‘s fast expanding Latin America practice offers a broad range of expertise in the wider banking and finance field, notably energy and infrastructure finance, distressed financings and restructuring, financial services regulatory and fintech matters, and digital assets and blockchain issues. The firm is also making a growing impression in cross-border bank lending in Brazil, thanks to the presence of Sao Paulo partner Rodrigo Carvalho, the former head of investment banking (legal division) at Bank of America in Brazil. Los Angeles-based co-chair of the structured finance practice, Francisco Flores is leading the firm’s advice on financings to fintech businesses across Latin America. New York-based Talbert Navia is chair of the Latin America group and is also active in major financings, while Richard Puttré is noted for project finance, especially for Spanish sponsors, and Claude Serfilippi handles a mix of banking and finance matters and capital markets transactions. Carl Fornaris is an experienced figure in financial services regulatory matters and fintech, along with Kimberly Prior and Juan Azel providing further fintech, digital assets and blockchain technology expertise. Named individuals are based in Miami unless stated otherwise.

CMS has a mix of international and local law expertise in relation to Latin America. Having maintained a Rio de Janeiro office for many years, it then linked up with a local Sao Paulo firm to establish FAS Advogados, in cooperation with CMS in 2023. The international firm has further offices in Chile, Colombia, Mexico and Peru. The multi-office Latin America practice has close links to international commercial lenders and development banks, along with a range of regional borrowers. It has developed a notable record in financings by European lenders to Latin American borrowers. The team has a long history of headline acquisition financings, project finance, restructurings and receivables-based credit agreements. In Chile, Jorge Allende Destuet is the key names, along with Sergio Rodríguez-Azuero and Daniel Rodríguez in Colombia. Diego Peschiera and Miguel Viale are prominent banking practitioners in Peru. Mexico City partner Raul Zepeda has led a series of major financings, including large project financings in the jurisdiction. Ted Rhodes heads the Brazil desk from London. Former Santiago-based partner Fernando De Cárcer left the firm in April 2024.

Cuatrecasas operates multiple offices in Latin America, notably Mexico, Colombia, Peru and Chile; all house considerable banking and finance expertise. This is coupled with Latin America-facing banking and finance expertise in Madrid, a rep office in New York and other international offices. It represents a range of corporate borrowers, financial institutions and funds in a variety of financings, notably in leveraged and acquisition finance, along with corporate finance, structured finance, derivatives, asset finance, projects and infrastructure finance, real estate finance, and export and trade finance. The firm also remains active in DIP financings and debt restructurings. In 2023, the firm advised on a series of headline acquisition financings, including advising a syndicate bank on the financing for SK Capital Partners’ acquisition of Apotex Pharmaceutical and its subsidiaries. Refinancing and debt restructuring have been important elements of the practice, along with project finance and real estate finance. Bogota partner Manuel Quinche is an experienced figure in structured finance and project finance. Roberto Guerrero is a key name in Santiago, along with León López in Mexico City and Aldo Reggiardo in Lima. Madrid’s Carlos Lasarte has extensive experience in representing international lenders in Latin American financings.

Gibson, Dunn & Crutcher LLP's Latin America banking and finance practice centres on energy and infrastructure financings. The core Latin America group tends to operate across disciplines and transactions with banking and finance part of its mix of business; it is notably active in project finance, corporate loans and private credit transactions. Toren Murphy has emerged as a key figure in Latin America finance, along with Tomer Pinkusiewicz, another established name and co-chair of the Latin America group. Among a number of headline engagements, the team advised GraMex Investment Holdings on the upsize, amendment and extension of a $110m senior secured credit facility to MNJ Capital to finance a portfolio of local projects in Mexico’s oil and gas industry. Named individuals are based in New York.

Hogan Lovells US LLP has a long history in Latin America energy and infrastructure financings. It represents a range of Latin American energy and infrastructure entities, including state-owned enterprises and government ministries. Ecuador is a key market, along with a number of Central America jurisdictions. Jorge Diaz-Silveira is head of the Miami office and leader of the infrastructure, energy, resources, and projects group for the Americas. Houston partner Bruno Ciuffetelli is co-chair of the Latin America practice and is a hugely experienced figure in the oil and gas sovereign and quasi-sovereign field.

King & Spalding LLP has emerged as a credible force in banking and finance, following the hire of Fradyn Suárez and a team in 2022. Much of the practice centres on energy and infrastructure (including transport infrastructure), with the new team combining effectively with the firm’s pre-existing presence in Latin America project development and construction. Hospitality and mining are also key areas for the group. With a number of refinancings of existing project finance facilities, the department is also building its reputation in acquisition finance, particularly in relation to fund investments in projects. Although the department leans towards representing borrowers and sponsors, it does have strong connections to lenders such as Citibank and other large banks. Colombia, Mexico and Peru have been active jurisdictions for the group, which is seeing further growth in Brazil and Chile, including in the energy transition sector. Counsel Jessica Mendoza is another key member of the team, leading or co-leading many of the firm’s prime Latin America engagements. Both named individuals are based in Miami.