Argentina - Banking & Finance Lawyers & Law Firms - Latin America - Chambers and Partners
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Latin-America Guide

Banking & Finance — Argentina

Overview

ARGENTINA: An Introduction to Banking & Finance Contributed by Estudio Beccar Varela

Since late 2015, when President Mauricio Macri took office, Argentina has been enjoying a completely new commercial environment due to a business-oriented government, with corporate managers heading up several key agencies and departments.

Among priority measures, the administration resolved some crucial issues such as sovereign debt hold-outs and foreign exchange restrictions. It also eliminated almost all export duties formerly imposed on agricultural and mining products and, as a result, said sectors have gained remarkable traction, with the agribusiness sector being one of the main engines of the economic recovery.

However, certain corrections, like the ones undertaken in connection with the elimination of energy subsidies in order to curb public spending, have had undoubted impact on inflation and contributed to a slowdown in economic activity in mid-2017.

The above-mentioned political environment, together with positive legislation in the energy sector, had a positive impact in various economic sectors such as energy and, specifically, renewables, an area in which the legal banking and finance field was very active through both syndicated loans and project finance.

The field of project finance is remarkable as it had been a long time since the last major project finance deals were closed in Argentina, with these mainly related to mining, highway and energy projects.

Previously, project finance deals in Argentina were funded using banking loans but the opportunity is now arising to increasingly support these transactions via capital markets.

The capital markets arena has also been boosted by the new political context, notably with the reopening of international markets, which had been beyond Argentina’s reach for the last ten years. Accordingly, there has been an increase in activity in international notes and IPOs, while local capital markets have experienced a considerable growth. Argentina has great potential for growth, both in the banking and finance and capital markets sectors, since the GDP/Market Capitalisation/Bankarisation ratios are sensibly low in comparison to other countries in the region, such as Brazil and Chile, as well as Peru and Colombia.

It is also worth mentioning that certain new regulation regarding mortgage loans has developed a growing market in this sector.

In connection with upcoming new legislation affecting banking and finance, the spotlight is focused on a draft bill on Capital Markets Law reform, which has been adjourned for political reasons and is likely to be considered by Congress after the October 2017 mid-term elections. The bill aims to moderate regulatory powers vested by the former administration by reforming the Comisión Nacional de Valores (CNV, the agency similar to the Securities and Exchange Commission in the U.S.), together with clarifying certain opaque CNV and Capital Markets Law regulations in connection with the acquisition of publicly traded shares when a relevant portion of capital of a corporation is the target.

Another sector showing increased banking and finance activity is public construction, particularly highways and energy facilities, which has sparked demand for syndicated loans and project finance.

Last but not least, Argentina has recently enacted legislation regarding Public Private Partnerships (PPPs). The PPP regime is envisioned by both the government and the private sector as a powerful financial tool to promote infrastructure development since it provides for a highly friendly and predictable framework for the public sector and the private contractors.

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Bruchou, Fernández Madero & Lombardi - Banking & Finance Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Head of department: Hugo Bruzone
- 8 partners
- 17 other qualified lawyers

What the team is known for Esteemed practice at the forefront of Argentina's banking and finance sphere advising high-profile clients on an array of deals, including capital markets offerings. Recent mandates comprise serving as counsel to initial purchasers and underwriters on bond issuances and securitisations, as well as handling repurchase agreements for a number of prestigious international banks. Also has experience assisting corporate clients with IPOs and acquisition finance mandates.

Strengths One client is quick to enthuse: "I am absolutely happy with the service - the team is first-class. The work they provide us with is nothing short of fantastic and, as a result, I have a great working relationship with them and trust them a lot."

Interviewees also praise the firm as "one of the top-notch firms in Argentina for banking and finance mandates."

Work highlights Advised the initial purchasers on the USD16.5 billion bond issuance made by the Argentine Republic.

Served as legal counsel to a syndicate of international banks on a transaction involving the repurchase agreements of a series of Bonar bonds in the Argentine Central Bank's portfolio, valued at USD5 billion.

Significant clients Axion Energy, Banco Itaú, BNP Paribas, Inter-American Development Bank, Morgan Stanley.

Notable practitioners

Eminent practitioner and founding partner Enrique Bruchou is widely recognised by market observers, who comment that "he has a great reputation," and describe him as "a prestigious partner in the market." Bruchou is an esteemed expert in capital markets and corporate financing transactions in Argentina. He boasts an impressive roster of clients, including prominent investment banks and multinational corporations.

Deeply respected department head Hugo Bruzone is praised by interviewees as "brilliant," with one going on to add that he is "a good and practical lawyer." Bruzone is a reference in the market for both his capital markets and banking expertise and has significant knowledge of tender offers, M&A transactions and regulatory matters. He has a considerable academic profile in this field, in addition to his strong practice.

According to observers, Carlos Lombardi is "a very good" practitioner. He has long-standing experience in Argentina's banking and finance sector, as well as in-depth knowledge of capital markets mandates. Lombardi possesses further expertise acting on a number of securitisation and structured finance transactions.

Analía Battaglia receives significant praise from clients, with one singling her out, as they note: "I would recommend her. She is very good at banking mandates and is particularly well known in the market." Battaglia principally focuses her practice on debt restructurings and acquisition finance.

José María Bazán is recognised by the market as "an excellent lawyer." One client enthuses: "I am very happy with his work. He knows the market and is readily available to explore alternatives," and continues: "He is very flexible and is always adding value."

About the Team (content provided by Bruchou, Fernández Madero & Lombardi)

Since its inception BFM&L has been a leading legal firm for local and international public offerings of securities, and it has contributed to the development of regulations designed to align the local market with international practices.


The Firm has acted as underwriters’ counsel in more international debt security issuances than any other Argentine legal firm. In such respect, we have contributed to the introduction to the Argentine market of all international capital market products, including bonds, debt securities of all types and equity offerings.

 

Due to its reputation and experience our Firm has been required to participate in the drafting and implementation of several important regulations issued both by the Argentine Securities Commission and by the Republic of Argentina's Central Bank (BCRA).


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Marval, O'Farrell & Mairal - Banking & Finance Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: Santiago Carregal and Roberto Silva Jr
- 13 partners
- approximately 41 qualified lawyers

What the team is known for Prestigious banking and finance department with a deep bench of practitioners boasting significant expertise in sophisticated financings, regulatory mandates and capital markets transactions. Complex structured finance, project finance and banking M&A transactions feature among the firm's particular areas of strength. Also assists investment banks acting as lead arrangers and underwriters with corporate bond issuances, including private exchange offers.

Strengths One impressed client highlights: "In my opinion, Marval, O'Farrell & Mairal is the best in Argentina. The partners are top professionals and I am really satisfied with the service they provide."

Another source enthuses: "The team provides a fantastic quality of service. The combination of the expertise of the individuals, as well as their experience in this field, guarantees results in a timely manner."

Work highlights Acted for Santander Río on the acquisition of Citibank's retail banking operations in Argentina.

Represented Oppenheimer, Morgan Stanley and Macro Securities, as the initial purchasers, in the USD400 million notes issuance of Aeropuertos Argentina 2000.

Significant clients Credit Suisse, BNP Paribas, JPMorgan Chase, Rabobank, Goldman Sachs.

Notable practitioners

Highly respected Roberto Silva Jr is endorsed by interviewees, who describe him as "a very good practitioner and a reference in the market." One goes on to comment: "I have an excellent opinion of him." Silva principally focuses his practice on the banking and finance sector and has a long history advising on loans and securities, particularly bond issuances. He additionally assists clients with private banking and restructuring mandates.

The deeply revered Santiago Carregal is described by market commentators as an "eminence," while others comment on his notable reputation in the banking and finance sector. Carregal is a specialist in capital markets and corporate finance transactions, boasting long-standing experience acting on public offerings, tender and exchange offers and mortgage securitisation for an array of high-profile clients.

Observers describe Gabriel Matarasso as "a very good practitioner," and one comments: "I have a high opinion of his work in this field." Matarasso is particularly well versed in capital markets, with a notable focus on sub-sovereign debt offerings and secured loans. Further areas of specialisation encompass real estate mandates, as well as insolvency and restructuring.

Cecilia Mairal receives endorsement for her standing in the banking and finance market. Mairal is well equipped to represent an impressive roster of major investment banks in their operations in Argentina, including advising on syndicated loans and debt restructurings.

Juan Diehl Moreno is recognised by the market as "a good lawyer" in this arena. Diehl Moreno's principal areas of expertise include foreign exchange control and capital markets transactions.

About the Team (content provided by Marval, O'Farrell & Mairal)

Marval is consistently involved in the biggest, most complex and most innovative banking and finance transactions in Argentina, including cross-border deals.

We have an unmatched range of banking and finance expertise; we are equally strong in matters ranging from complex structured finance, project finance, capital markets transactions and banking M&A to loans, foreign exchange and regulatory matters, including administrative regulatory proceedings at the CNV, the Consumer Protection Board and the Central Bank and highly complex banking litigation.

Our office in New York enables us to provide unrivalled support to clients on New York listings and issuances involving the US.

Our banking and finance practice covers a wide range of matters including:
 

  • Secured and unsecured credit facilities
  • Sovereign and sub-sovereign credit
  • Trade finance.
  • Pre-export financing
  • Leasing transactions
  • Trusts
  • Real estate and agribusiness financing
  • Government financing
  • Mergers and acquisitions, asset transfer and acquisition finance
  • Bank and corporate debtor restructurings
  • Bank regulatory matters
  • Exchange controls.
  • Central Bank proceedings
  • Legal due diligence
  • Portfolio acquisition



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Beccar Varela - Banking & Finance Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: Roberto Fortunati, Javier Magnasco and Pablo Torretta
- 10 partners
- 20 other qualified lawyers

What the team is known for Distinguished full-service firm with solid experience acting for a variety of domestic and multinational banks, in addition to multilateral organisations. Further expertise includes advising on both public and private financing and regulatory matters, including those related to foreign exchange and the central bank. Credit facility agreements and debt restructurings are areas of noted strength.

Strengths According to sources, "the lawyers work well as a team and are knowledgeable and creative. Overall, they provide a very good service on day-to-day advice as well as complex mandates."

Work highlights Acted for Deutsche Bank on Banco Comafi's purchase of its Argentine operations.

Significant clients Citibank, Banco de Galicia y Buenos Aires, Tarjeta Naranja, ICBC, Banco Supervielle.

Notable practitioners

Roberto Fortunati is highlighted by sources as "a very knowledgeable lawyer in the banking industry." He is noted for his significant activity advising on project financing matters for clients involved in the oil and gas and mining sectors. He is additionally well versed assisting with debt restructuring transactions.

Making his debut in the rankings, Roberto Crouzel is described as a "talented" lawyer, with "quite a reputation in the market," according to interviewees. He is often retained by a number of banks and other financial entities to advise on a variety of transactions.

Maximiliano D'Auro is recognised for his experience assisting local and international clients with both the structuring of financial transactions and regulatory issues. D'Auro focuses his practice on anti-corruption law and compliance.

Javier Magnasco is described by clients as "proactive and meticulous in his analysis." Magnasco's areas of expertise encompass representing banking entities, financial institutions and corporations in a variety of mandates, including debt restructuring and project finance.

Clients recognise Pablo José Torretta as "very knowledgeable of central bank and foreign exchange regulations." He is singled out for his activity assisting with banking and finance regulations, loans and debt restructuring, among other areas.

About the Team (content provided by Beccar Varela)

As a full-service law firm (covering almost all practice areas, including white collar and corporate crime), we at Beccar Varela are able to provide professional legal advice to our clients on all banking and financial law matters. Our team has vast experience in providing comprehensive advice on public and/or private financing, loans, exchange regulations, imports and exports, securities, portfolio securitization, trusts, among others. We collaborate with foreign legal firms in public offerings (IPOs), ADRs issuances and debt securities through Regulation S and Rule 144A.

Our clients appreciate our natural understanding of their industry, which is based not only on our knowledge of the market but also on our members’ working experiences in the most important banks of Argentina.

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Cabanellas, Etchebarne & Kelly - Banking & Finance Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Head of department: Marcelo Etchebarne
- 4 partners

What the team is known for Well established practice recognised for its strength in debt capital markets. Noted for its particular focus serving as legal counsel to a variety of Argentine provinces on international debt offerings, as well as sovereign and sub-sovereign bond issuances. Bondholder disputes are a further area of expertise for the team, alongside assisting with regulatory banking mandates.

Strengths One market commentator endorses the firm and declares: "The lawyers are absolutely outstanding in terms of dealing with sovereign issues. The firm has an extremely diligent team in this sector."

Work highlights Assisted the Province of Buenos Aires with three international debt offerings, with an aggregate value of USD3 billion.

Significant clients Province of Mendoza, Province of Neuquén, Province of Chubut, Province of Salta, Deutsche Bank.

Notable practitioners

One impressed interviewee hails Marcelo Etchebarne as "completely dedicated and commercial," and goes on to add: "He is very knowledgeable and experienced." Etchebarne is recognised for his significant expertise in securities offerings, including sovereign and sub-sovereign debt issuances as well as bondholder litigation. He centres his practice on representing Argentine provinces in transactions.

According to sources, Alejandro Ezequiel Noblía "has a great deal of experience in financial matters and has excellent knowledge of the context of the mandates he handles. He is a very effective and hard-working lawyer." Noblía has specific expertise in structured finance and financial trusts.

Up-and-coming partner Justo Segura is praised by market observers as "a client-oriented and pro-deal practitioner who always provides high-quality legal advice." They go on to comment: "He has extensive knowledge of the complex Argentine regulatory environment."

About the Team (content provided by Cabanellas, Etchebarne & Kelly)

Department profile not yet provided by Cabanellas, Etchebarne & Kelly. Please see their firm profile.

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Pérez Alati, Grondona, Benites & Arntsen - Banking & Finance Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: María Gabriela Grigioni and Diego Serrano Redonnet
- 7 partners
- 21 other qualified lawyers

What the team is known for Revered banking and finance department with particular strength advising on issues arising from the energy and infrastructure sectors. Abilities span debt restructuring and capital markets offerings, including project financing and sovereign and sub-sovereign financing mandates. Experienced acting for national and multinational investment and development banks, acting as underwriters, placement agents and lenders.

Strengths The firm is described as "excellent" by one interviewee, who goes on to state that "the team is made up of very thoughtful and diligent lawyers."

Work highlights Served as counsel to a group of underwriters, including BNP Paribas, UBS Securities and Puente Corredor de Bolsa, on the issuance of hydrocarbon-secured bonds in the province of Chubut, valued at USD650 million.

Significant clients UBS, The Bank of New York Mellon, Crédit Agricole, Santander, IFC.

Notable practitioners

Widely acclaimed Diego Serrano Redonnet is recommended by interviewees, who emphasise: "He knows everything and nothing is out of reach - he always has an answer." Others laud him as "one of the greatest lawyers in Argentina," commenting that "he is extremely knowledgeable and a leader in the market." Serrano Redonnet centres his practice on debt and equity capital markets, debt restructurings and complex M&A transactions.

Interviewees recognise María Gabriela Grigioni as a "good" practitioner in this area. Grigioni has experience representing both borrowers and issuers and she is also noted for her academic profile, particularly with regards to capital markets regulations and banking law.

Since publication, Federico Wilensky has left the practice.

Since publication, José Martínez de Hoz (n) has left the practice.

About the Team (content provided by Pérez Alati, Grondona, Benites & Arntsen)

Department profile not yet provided by Pérez Alati, Grondona, Benites & Arntsen. Please see their firm profile.

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Salaverri, Burgio & Wetzler Malbran - Banking & Finance Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: Roberto Lizondo and Diego Salaverri
- 5 partners
- 13 other qualified lawyers

What the team is known for Key firm with an impressive bench of practitioners regularly called upon to assist a broad variety of clients with both domestic and cross-border securities transactions. Also noted for its particular strength in project financing, debt capital markets and tender offers. Regularly acts for corporate issuers, local and multinational banks and financial institutions.

Strengths One impressed client is quick to enthuse: "I am very satisfied - I feel very comfortable working with the team because they work well with their clients, have considerable knowledge of this field of law and are experienced in the market. Their opinions are always very good."

Work highlights Acted for Goldman Sachs, UBS Securities and Macro Securities, in their role as underwriters, on Banco Macro's offering of a USD400 million notes issuance.

Significant clients Pampa Energía, Edenor, Banco Itaú Argentina, Citibank, Petrolera Pampa.

Notable practitioners

Roberto Lizondo is lauded by one interviewee as "an excellent professional with a lot of experience," and they also comment: "He is always offering solutions to issues - he is a person who opens pathways instead of closing them." Another singles him out as "one of my go-to choices for local partners in Argentina." Lizondo is well versed in capital markets transactions and regularly assists underwriters, arrangers and issuers with debt and equity offerings.

Diego Salaverri stands out to market commentators, with one praising him as "a professional who is prepared to go the extra mile for his clients." Others consider him to be a "very good practitioner, with a considerable presence in the market." He centres his practice on banking, acquisition and project financings, often involving capital markets products, for a variety of clients, including local and international financial institutions.

Partner Tomás Arnaude is highlighted by observers for his capital markets practice and his focus on lending transactions, as one notes that "he is very active in the market," with another stating: "He is a great transactional lawyer."

Up-and-coming partner Martin Fernandez Dussaut is praised by interviewees, who acknowledge his presence in this field. Fernandez Dussaut focuses his practice on capital markets, corporate finance and M&A deals, among other areas.

Up-and-coming partner Victoria Hitce is described by one source as "a very good lawyer," as another goes on to appreciate the "great experience" they have when they work with her. She is a specialist in banking and capital markets mandates, as well as competition law and M&A transactions.

About the Team (content provided by Salaverri, Burgio & Wetzler Malbran)

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Allende & Brea - Banking & Finance Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Head of department: Carlos María Melhem
- 3 partners
- 8 other qualified lawyers

What the team is known for Reputable practice noted for its strength advising on new technological developments within the local banking and finance market. Additionally well versed in acting for global financial institutions on inter-bank and corporate loans. Regulatory and compliance mandates are further areas of strength for the team.

Strengths One source mentions: "I am very happy with them," adding that "they understand our company and this makes it easy to find a solution to any problems that arise."

Work highlights Served as legal counsel to Danske Bank on the financing granted to Aquatro for the acquisition of assets to be secured by a first priority security interest.

Significant clients Banco Industrial, Banco Itaú Argentina, Export Credit Corporation, Bank of America Merrill Lynch, Barclays Bank.

Notable practitioners

Carlos María Melhem is endorsed by market sources, who comment: "He provides high-quality advice," while another highlights that "he is very present, visible and efficient." He centres his practice on loans and structured financings for a variety of local and international financial institutions and corporations.

According to clients Jorge Mayora "is very organised, highly professional and pays great attention to the matters at hand." Mayora is well equipped to advise financial entities on loans and transactions involving derivatives.

About the Team (content provided by Allende & Brea)

Department profile not yet provided by Allende & Brea. Please see their firm profile.

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Errecondo, González & Funes Abogados - Banking & Finance Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- approximately 4 partners
- approximately 10 other qualified lawyers

What the team is known for Well-recognised compact firm advising a range of financial institutions on securities offerings, bilateral and syndicated lending and structured finance, including derivatives and securitisations. Also well placed to assist with sovereign and sub-sovereign bond issuances.

Strengths The firm is described by one interviewee as "an active practice, visible in a lot of banking and finance deals, with considerable knowledge of the market."

Notable practitioners

Widely acclaimed Javier Errecondo is a prominent figure in Argentina's banking and finance sphere. One client enthuses: "I had a very positive experience working with him," while another emphasises: "He has always been very active in the market." Errecondo is an expert in debt restructuring and derivatives products, as well as private equity investments and M&A deals.

Baruki González is held in high esteem by market commentators, with one highlighting his knowledge of this field and his experience. González is well positioned to assist clients with a range of capital markets transactions, as well as private equity and M&A mandates.

About the Team (content provided by Errecondo, González & Funes Abogados)

Department profile not yet provided by Errecondo, González & Funes Abogados. Please see their firm profile.

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Mitrani Caballero & Ruiz Moreno - Banking & Finance Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Head of department: Diego Parise
- 5 partners
- 12 other qualified lawyers

What the team is known for Experienced assisting global financial institutions and corporate clients on complex cross-border financing transactions. Has participated in debt restructuring and bilateral and syndicated credit facilities, as well as providing non-transactional advice on securities and foreign exchange, among other areas.

Strengths According to one source, "the firm provides a high-calibre service. They adapt quickly and smoothly to complex situations without losing focus or quality of performance."

Significant clients Alliance Bernstein, Amper, Tenaris, JBIC, Netherlands Development Finance Company.

Notable practitioners

Interviewees describe head of department Diego Parise as a "professional, efficient practitioner, with a practical view of the problems at hand." He is noted for his expertise in secured and syndicated loans, securities offerings as well as bank and acquisition financing.

Sources describe Julio Ricardo Martínez as an "intelligent, active and pro-deal" lawyer. Martínez has experience in debt and equity offerings, securitisations and project finance, alongside considerable understanding of foreign exchange regulations.

About the Team (content provided by Mitrani Caballero & Ruiz Moreno)

The firm advises financial institutions and corporate clients on a wide array of banking and finance matters. Firm’ professionals have substantial expertise in handling cross-border acquisition financing transactions, and have acted as international lead counsel in connection with various syndicated loan agreements for cross-border transactions. Our firm represents international players and middle-size companies in structuring and implementing public and private offerings of equity and debt securities, exchange offers and “going private” transactions; our practice also handles derivatives, structure finance and securitization transactions, and supports clients on foreign exchange regulations.

Corporate Finance: Our firm has a preeminent corporate finance practice and significant experience in large corporate finance transactions.

Capital Markets: Our securities practice covers capital markets transactions and securities regulatory issues. We provide structuring, timing and tax planning advice in connection with initial equity and debt offerings, private placements and other market activity.

Financial Institutions: the firm provides regulatory advice to domestic and foreign financial institutions, broker-dealers and traders on securities and banking transactions.

Foreign exchange regulations: our Banking & Finance practice provides practical, commercial and strategic advice to both corporate clientes and financial institutions on compliance with Central Bank regulations.

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M & M Bomchil - Banking & Finance Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Head of department: Nestor José Belgrano
- 4 partners
- 7 other qualified lawyers

What the team is known for Dynamic team active assisting a roster of financial institutions with securing loans from banks and multilateral agencies, as well as representing clients in bond issuances and debt and equity offerings. Further areas of strength include advising on project financing mandates for energy and infrastructure companies.

Strengths One client refers to the firm's "excellent" service and endorses them as "highly proactive, particularly in relation to negotiations, as they identify red flags and suggest ways around potential problems before we even begin the process."

Work highlights Assisted Aeropuertos Argentina 2000 with an issuance of bonds on the domestic and international markets, with an aggregate value of USD400 million.

Significant clients Genneia, Compañía General de Combustibles, Corporación América, Aeropuertos Argentina 2000.

Notable practitioners

Fermin Caride receives significant praise from clients, as one remarks: "He is excellent at providing advice on capital markets and banking law. With him, you know beforehand that any problem will be resolved quickly. He is 100% dedicated." They go on to enthuse: "He is methodical, sophisticated, practical and proactive, with solid knowledge of this market."

Head of department Nestor José Belgrano is described by interviewees as "a well-known lawyer." Belgrano's long-standing experience spans banking law, ship and aircraft financing and capital markets. He often assist clients with syndicated lending and equity investments.

Associate-to-watch Victoria Funes is lauded by observers as "a great person and a fantastic lawyer." She is well versed in advising clients on capital markets and financing operations, as well as banking regulations.

About the Team (content provided by M & M Bomchil)

Our practice is organized into three main areas:
Financial Services
We have broad experience in the design and implementation of complex structured financing and project finance, having handled transactions in Argentina and abroad.
Capital Markets
We have handled capital and debt issues in Argentina and abroad, corporate reorganization procedures through capital markets (including stock market launch (IPO), company mergers and de-mergers) and in public share swap offers and minority investor by-outs.  Our role includes initial advice at the design stage of a transaction, the negotiation of commercial terms and conditions and filings before the competent regulatory bodies.
Regulatory Advice
We provide regulatory advice connected with banking, exchange rate and capital market regulations, and defending clients in summary proceedings by the Central Bank of the Republic of Argentina, the National Securities Commission and various markets.

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Nicholson y Cano Abogados - Banking & Finance Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: Mario Oscar Kenny, Emiliano Silva and Marcelo Villegas
- 4 partners
- 9 other qualified lawyers

What the team is known for Well-reputed practice with knowledge covering a variety of financial transactions. Has notable expertise in sector-related due diligence processes, while also offering experience in issues related to securities law. IPOs and secondary offerings are areas of particular strength for the team.

Strengths One client enthuses: "They advise us very well and we appreciate the service we receive from the team."

Work highlights Assisted Havanna Holding with an IPO which raised approximately USD9.51 million for the company.

Significant clients HSBC, Bank of Tokyo-Mitsubishi UFJ, TMF Trust Company Argentina, Banco de Galicia y Buenos Aires, Banco Comafi.

Notable practitioners

One impressed client enthuses that Marcelo Villegas is "a very intelligent guy. He is very committed to the work he is doing and is good at managing clients' issues." Villegas is recognised for his noteworthy experience in the financing of M&A deals, as well as restructuring transactions. He led on the Havanna Holding IPO work highlight.

Mario Oscar Kenny principally focuses his practice on financial trusts and secured lending. He has in-depth knowledge of the issuance of negotiable bonds, alongside securitisation mandates, regularly acting for a range of financial institutions, as well as multinational corporations.

About the Team (content provided by Nicholson y Cano Abogados)

The Banking and Capital Markets team advices in complex structured finance transactions, capital markets, project finance, loans, banking, M&A, restructuring, foreign exchange and regulatory matters, including administrative regulatory proceedings at the National Securities Commission, Buenos Aires Stock Exchange and the Superintendence of Insurance. In addition, NYC counsels clients on IPOs and other securitizations.

The services provided include, the following:

  • Secured and unsecured financing and credit lines.
  • Sovereign and sub-sovereign debt.
  • Multilateral and export agencies financing.
  • Commercial financing.
  • Leasing and other asset based financings.
  • Structured financing.
  • Project finance.
  • Leveraged buyouts and acquisition financing.
  • Negotiation of loans and debt restructuring.
  • Real estate financing.
  • Securitizations and guarantee trusts.
  • Private equity, mutual, pension, investment and direct investment funds.
  • Restructuring.
  • Syndicated loans.



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Tanoira Cassagne - Banking & Finance Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Head of department: Alexia Rosenthal
- 1 partner
- 6 other qualified lawyers

What the team is known for Boutique firm assisting banks and financial institutions acting as underwriters, lenders and trustees with a number of financing transactions. Well versed in capital markets mandates, advising on debt issuances by provinces and state-owned companies, in addition to representing clients in IPOs and secondary public offerings.

Strengths The firm is endorsed by clients, who underline the firm as "excellent," highlighting the team's "dedication to its clients."

Work highlights Acted for Banco de Galicia y Buenos Aires, as issuer and local placement agent, on its debt issuance in a transaction valued at USD250 million.

Significant clients Banco Macro, Santander Río, Deutsche Bank, Citibank, JPMorgan Chase.

Notable practitioners

Co-head of department Alexia Rosenthal is singled out by interviewees as an "excellent" practitioner in this market. Rosenthal has expertise acting on capital markets transactions, as well as cross-border lending and acquisition financing. She led the team on the aforementioned work highlight for Banco de Galicia y Buenos Aires.

About the Team (content provided by Tanoira Cassagne)

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Tavarone, Rovelli, Salim & Miani - Abogados - Banking & Finance Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: Juan Pablo Bove, Federico Salim and Marcelo Rafael Tavarone
- 3 partners
- 14 other qualified lawyers

What the team is known for Significant banking and finance department regularly called upon by a wide range of financial entities to advise on provincial debt issuance and loans, as well as corporate and project financings, with a particular focus on the infrastructure sector. Acts for underwriters, brokers and borrowers in debt mandates.

Strengths One observer singles the firm out, noting the team's "personalised service, eagerness to help, availability and flexibility."

Work highlights Acted on behalf of the co-issuers Generación Mediterránea, Generación Frías and Central Térmica Roca, as well as Albanesi as guarantor, on the offering of USD250 million 9.625% senior notes due 2023.

Significant clients UBS, Credit Suisse, Goldman Sachs, JPMorgan Chase, Banco de la Provincia de Buenos Aires.

Notable practitioners

Federico Salim is commended by market sources as "a good lawyer," with another stating: "He is impressive." Salim has represented clients in both project financing and debt restructuring, in addition to acting for lenders and borrowers on the structuring of acquisitions and equity investments.

One source endorses Marcelo Rafael Tavarone, commenting that "his knowledge of the relevant regulations is very valuable to us." Tavarone is a specialist in banking and finance law and also offers expertise in capital markets and foreign exchange regulations.

Up-and-coming partner Juan Pablo Bove is held in high esteem by market commentators for his practice in this field, with the consensus being that he has considerable strength in banking and finance mandates. He concentrates his practice on debt restructurings and issuances, as well as loans.

Julieta De Ruggiero is described by interviewees as "very smart and intelligent," and they go on to highlight her expertise in domestic regulatory mandates. She has considerable experience in the issuance of bonds and public tender offers.

About the Team (content provided by Tavarone, Rovelli, Salim & Miani - Abogados)

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Zang, Bergel y Viñes Abogados - Banking & Finance Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Head of department: Carolina Zang
- 1 partner
- 6 other qualified lawyers

What the team is known for Solid practice with particular strength in both domestic and international capital markets transactions, including representing issuers and underwriters in equity and debt transactions. Also noted for its expertise in wealth planning and private banking, as well as credit facilities and securitisation.

Strengths One source mentions: "They always provide creative solutions," adding that "they manage to close every transaction in the best way possible - we are consistently impressed by them."

Work highlights Counselled Banco Hipotecario on a notes offering valued at USD400 million.

Significant clients IRSA, Alto Palermo, Cresud, Tarshop, Farmacity.

Notable practitioners

Observers are quick to praise Carolina Zang, as one comments that they "trust her advice and her ability to obtain the best results." Another states: "She is very available, highly experienced and has a good attitude." Zang is well positioned to handle debt restructurings and cross-border secured and syndicated loans. She led the team on the aforementioned Banco Hipotecario work highlight.

About the Team (content provided by Zang, Bergel y Viñes Abogados)

Capital Markets, Banking & Finance: The firm provides legal assistance in all aspects of domestic and international capital markets transactions, acting on behalf of the bank or the issuer. The firm represents one third of the most active and representative Argentinean issuers listed in the Buenos Aires Stock Exchange and foreign exchanges such as the NYSE, NASDAQ, Tel Aviv Stock Exchange and Bovespa. ZBV offers legal advice on a range of traditional banking and financial matters, including investment fund, stock options, derivatives, private banking and wealth planning, cross border transactions, different types of credit facilities and securitization.
The firm also counsels clients on day-to-day regular loan transactions, as well as banking and regulatory matters, compliance with public offering and reporting requirements, and anti-money-laundering legislation. The department furthermore specializes in debt restructuring, mergers and acquisitions, investment funds and private equity and venture capital transactions.

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Baker McKenzie - Banking & Finance Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Head of department: Gabriel Gómez Giglio
- 4 partners
- 3 other qualified lawyers

What the team is known for Internationally respected firm representing clients in a number of finance-related mandates. Areas of specialisation comprise acting on public offerings and securities matters on behalf of issuers and underwriters. Additionally handles custodian and sub-custodian agreements, with further strength acting for financial technology companies.

Strengths One client highlights the firm's offering in this practice area, declaring: "I strongly rely on Baker McKenzie's banking and finance team for complex matters. The firm has a well-balanced team from both a regulatory standpoint and a transactional one, with in-depth knowledge of the law and the capacity to design complex financing structures."

Work highlights Advised Banco Industrial on the restructuring of its entire business, including its banking, securities and insurance brokerage operations, as well as its subsidiaries. The firm oversaw the acquisition of shares from minority stakeholders, the relevant regulatory approvals and the transfer of the company's assets.

Significant clients Bank of Tokyo-Mitsubishi UFJ, Goldman Sachs, Central American Bank for Economic Integration, Société Générale, PayPal.

Notable practitioners

Head of department Gabriel Gómez Giglio is praised by clients as "a proactive, open, serious and methodical practitioner, who is always willing to help." Gómez Giglio is well versed assisting with cross-border transactions, securities law and regulatory finance issues.

About the Team (content provided by Baker McKenzie)

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Bulló Abogados - Banking & Finance Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Head of department: Gustavo Javier Torassa
- 4 partners
- 3 other qualified lawyers

What the team is known for Notable banking and finance practice assisting key clients in the financial sphere with day-to-day corporate governance matters, as well as local banking regulations. Further experience includes advising banks on the restructuring of loans and lease agreements to corporate entities.

Strengths Interviewees observe that "the firm provides a very good service" and go on to highlight "both the team's knowledge and expertise, as well as its resources and professionalism."

Work highlights Represented HSBC Bank Argentina in the premature termination of an approximately USD10.22 million real estate lease agreement with a subsidiary of BAT, Nobleza Piccardo.

Significant clients Banco Comafi, Banco Itaú Argentina, HSBC, Mercedes-Benz, Telefónica de Argentina.

Notable practitioners

Market sources describe Gustavo Javier Torassa as "a good lawyer," who is "professional, detail-oriented and able to adapt to the needs of the client in each particular case." Alongside banking and finance, Torassa also has an active dispute resolution practice.

About the Team (content provided by Bulló Abogados)

Our broad-based Banking & Finance practice advises corporate borrowers and financial institutions on their most significant financing transactions in Argentina.  We routinely advise one of the world’s largest financial institutions, HSBC Bank, with respect to their local banking regulations and matters concerning their day-to-day business.  Bulló Abogados also represents lenders, underwriters, issuers and borrowers on their most sophisticated and complex financing, debt and equity transactions, including asset-backed securities, syndicated loans, debt restructurings and recapitalization transactions.

Bulló Abogados is best known in the market for its banking and finance capabilities in:

·         Banking regulations: the department regularly advises banks and financial companies in the legal and regulatory framework to act in the financial market.  The advisory includes the regulation issued by the Central Bank of Argentina and the Anti-Money Laundering Agency.

·         Capital Markets: the department has been actively involved in the capital markets.  The department has a strong experience in listing and delisting companies in the stock exchange market, issuing of private bonds or any kind of public offering issuance.

  • Loans & Credits: we advise our clients in financial and management trusts as well as in financial issues, such as syndicated loans and warranties, and restructuring of loans.

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Cerolini & Ferrari Abogados - Banking & Finance Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Head of department: Agustín Cerolini
- 1 partner
- 3 other qualified lawyers

What the team is known for Boutique firm with a strong focus on securities regulations. Routinely assists a number of financial entities with capital markets-related compliance matters. Trade and acquisition finance are other notable areas of focus, with particular experience advising borrowers from the real estate and agribusiness sectors.

Strengths One observer comments: "I am satisfied. I think that the team is very efficient and the lawyers understand the client's situation well."

Work highlights Assisted Banco del Chubut with local capital markets regulatory compliance.

Significant clients Iké Asistencia Argentina, Bank of America Merrill Lynch, Smurfit Kappa Argentina, Workana, Invertir Online.

Notable practitioners

Agustín Cerolini receives endorsement from clients who describe him as "good" at leading transactions and "very detailed" in his analysis. Cerolini benefits from experience advising clients from the finance sphere on an array of sector-related matters including bond issuances, syndicated loans and IPOs.

About the Team (content provided by Cerolini & Ferrari Abogados)

In Cerolini & Ferrari Abogados we are driven by our passion for our professional practice and a permanent aspiration for excellence, committed to our clients and to providing solutions to their needs. 

Our Banking & Finance practice covers a wide range of matters including:

  • Bilateral and syndicated credit facilities. Securities. SMEs Financing.
  • Import financing. Pre-export financing.
  • Public and private trusts. Guarantee and administrative trusts.
  • Real estate and agri-business financing.
  • Sovereign debt and public sector financing (national, provincial and municipal).
  • Mergers and acquisitions. Transfer of goodwill. Financing and issuing of securities.
  • Debt restructuring.
  • Regulatory framework.
  • Exchange control. FX proceedings filed by the Central Bank of the Republic of Argentina.
  • Proceedings initiated by the Financial Information Unit (FIU).
  • Due Diligence.
  • Portfolio acquisition.
  • Leasing.

Our priority is understanding our clients’ business activities in order to assist them in creating value for their companies, even in case of conflict. To such end, our partners have sound professional experience, acquired in local and international leading law firms and major companies.

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McEwan, Roberts, Dominguez, Carassai - Banking & Finance Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: Hernán Carassai and Herberto Robinson
- 3 partners
- 6 other qualified lawyers

What the team is known for Compact team recognised for its particular strength handling capital markets transactions. Activity encompasses securities placements, including assisting companies with corporate financing via offerings in the local market. Additionally recognised for work on exchange offers, as well as debt securities and liability management.

Strengths According to one source, the firm's service is "highly sophisticated" and the team has "very solid knowledge of even the most complex issues."

Work highlights Advised Compañía de Infraestructura & Servicios on a USD200 million notes offering guaranteed by two of its subsidiaries.

Significant clients Benito Roggio e Hijos, Telefónica de Argentina, BCP Securities, Loma Negra, HSBC.

Notable practitioners

Interviewees value Hernán Carassai's "in-depth knowledge of the market and interesting ideas and solutions." Others highlight his good attitude, availability and efficiency. Carassai is regularly called upon by clients to advise lenders, borrowers and issuers on a broad array of financings, including debt placements.

About the Team (content provided by McEwan, Roberts, Dominguez, Carassai)

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Estudio O'Farrell - Banking & Finance Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: Ricardo Castañeda, Sebastián Luegmayer and Uriel O'Farrell
- 4 partners
- 5 other qualified lawyers

What the team is known for Respected banking and finance department recognised for its considerable experience advising key client YPF on international bond issuances and placements. Firm is also noted for work regarding derivative products and foreign exchange control regulations.

Strengths One client is quick to enthuse: "They are reliable, knowledgeable and easy to work with."

Work highlights Assisted YPF with the placement and issuance for USD1 billion worth of notes.

Significant clients John Deere Credit Compañía Financiera, Morgan Stanley, Wells Fargo Advisors, Standard Chartered Bank, Grupo Insud.

Notable practitioners

Sebastián Luegmayer is referred to as an "excellent" lawyer by clients. Luegmayer has considerable experience assisting clients with a range of sector-related issues, such as the issuance of notes, derivatives and financial trusts. He served as co-lead partner on the aforementioned YPF highlight.

About the Team (content provided by Estudio O'Farrell)

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Severgnini, Robiola, Grinberg & Tombeur - Banking & Finance Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Head of department: Carlos María Tombeur
- 4 partners
- 6 other qualified lawyers

What the team is known for Significant team noted for advising both local and international banks and financial entities on domestic transactions. Regularly assists companies with debt refinancing through the raising of secured and syndicated loans. Also active in the restructuring of public offerings and bond issuances, as well as regulatory mandates.

Strengths One observer describes the banking and finance team at the firm as "very good lawyers."

Work highlights Represented AES Generación Argentina, as the borrower, in a USD75 million project finance debt restructuring.

Significant clients Corporación Andina de Fomento, Banco Patagonia, Instituto de Crédito Oficial, Grupo Petersen, Société Générale.

Notable practitioners

Matías Grinberg is a well-recognised practitioner for his abilities in the banking and finance market. Grinberg is experienced in the issuance of bonds and debt restructuring, as well as corporate and M&A transactions. He was part of the team assisting with the aforementioned AES Generación Argentina work highlight.

Carlos María Tombeur stands out to market commentators for his involvement in this sector, with one considering him to be "an outstanding lawyer." Main areas of focus for Tombeur's practice are lending and securities matters. He also served as lead partner on the work highlight listed above.

About the Team (content provided by Severgnini, Robiola, Grinberg & Tombeur)

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Overview

ARGENTINA: An Introduction to Banking & Finance Contributed by Estudio Beccar Varela

Since late 2015, when President Mauricio Macri took office, Argentina has been enjoying a completely new commercial environment due to a business-oriented government, with corporate managers heading up several key agencies and departments.

Among priority measures, the administration resolved some crucial issues such as sovereign debt hold-outs and foreign exchange restrictions. It also eliminated almost all export duties formerly imposed on agricultural and mining products and, as a result, said sectors have gained remarkable traction, with the agribusiness sector being one of the main engines of the economic recovery.

However, certain corrections, like the ones undertaken in connection with the elimination of energy subsidies in order to curb public spending, have had undoubted impact on inflation and contributed to a slowdown in economic activity in mid-2017.

The above-mentioned political environment, together with positive legislation in the energy sector, had a positive impact in various economic sectors such as energy and, specifically, renewables, an area in which the legal banking and finance field was very active through both syndicated loans and project finance.

The field of project finance is remarkable as it had been a long time since the last major project finance deals were closed in Argentina, with these mainly related to mining, highway and energy projects.

Previously, project finance deals in Argentina were funded using banking loans but the opportunity is now arising to increasingly support these transactions via capital markets.

The capital markets arena has also been boosted by the new political context, notably with the reopening of international markets, which had been beyond Argentina’s reach for the last ten years. Accordingly, there has been an increase in activity in international notes and IPOs, while local capital markets have experienced a considerable growth. Argentina has great potential for growth, both in the banking and finance and capital markets sectors, since the GDP/Market Capitalisation/Bankarisation ratios are sensibly low in comparison to other countries in the region, such as Brazil and Chile, as well as Peru and Colombia.

It is also worth mentioning that certain new regulation regarding mortgage loans has developed a growing market in this sector.

In connection with upcoming new legislation affecting banking and finance, the spotlight is focused on a draft bill on Capital Markets Law reform, which has been adjourned for political reasons and is likely to be considered by Congress after the October 2017 mid-term elections. The bill aims to moderate regulatory powers vested by the former administration by reforming the Comisión Nacional de Valores (CNV, the agency similar to the Securities and Exchange Commission in the U.S.), together with clarifying certain opaque CNV and Capital Markets Law regulations in connection with the acquisition of publicly traded shares when a relevant portion of capital of a corporation is the target.

Another sector showing increased banking and finance activity is public construction, particularly highways and energy facilities, which has sparked demand for syndicated loans and project finance.

Last but not least, Argentina has recently enacted legislation regarding Public Private Partnerships (PPPs). The PPP regime is envisioned by both the government and the private sector as a powerful financial tool to promote infrastructure development since it provides for a highly friendly and predictable framework for the public sector and the private contractors.

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Eminent Practitioner

Bruchou, Fernández Madero & Lombardi

From the Chambers Latin America guide

Eminent practitioner and founding partner Enrique Bruchou is widely recognised by market observers, who comment that "he has a great reputation," and describe him as "a prestigious partner in the market." Bruchou is an esteemed expert in capital markets and corporate financing transactions in Argentina. He boasts an impressive roster of clients, including prominent investment banks and multinational corporations.

^ See whole ranking table

Band 1

Bruchou, Fernández Madero & Lombardi

From the Chambers Latin America guide

Deeply respected department head Hugo Bruzone is praised by interviewees as "brilliant," with one going on to add that he is "a good and practical lawyer." Bruzone is a reference in the market for both his capital markets and banking expertise and has significant knowledge of tender offers, M&A transactions and regulatory matters. He has a considerable academic profile in this field, in addition to his strong practice.

^ See whole ranking table

Band 1

Santiago Carregal

Marval, O'Farrell & Mairal

From the Chambers Latin America guide

The deeply revered Santiago Carregal is described by market commentators as an "eminence," while others comment on his notable reputation in the banking and finance sector. Carregal is a specialist in capital markets and corporate finance transactions, boasting long-standing experience acting on public offerings, tender and exchange offers and mortgage securitisation for an array of high-profile clients.

^ See whole ranking table

Band 1

Errecondo, González & Funes Abogados

From the Chambers Latin America guide

Widely acclaimed Javier Errecondo is a prominent figure in Argentina's banking and finance sphere. One client enthuses: "I had a very positive experience working with him," while another emphasises: "He has always been very active in the market." Errecondo is an expert in debt restructuring and derivatives products, as well as private equity investments and M&A deals.

^ See whole ranking table

Band 1

Salaverri, Burgio & Wetzler Malbran

From the Chambers Latin America guide

Roberto Lizondo is lauded by one interviewee as "an excellent professional with a lot of experience," and they also comment: "He is always offering solutions to issues - he is a person who opens pathways instead of closing them." Another singles him out as "one of my go-to choices for local partners in Argentina." Lizondo is well versed in capital markets transactions and regularly assists underwriters, arrangers and issuers with debt and equity offerings.

^ See whole ranking table

Band 1

Salaverri, Burgio & Wetzler Malbran

From the Chambers Latin America guide

Diego Salaverri stands out to market commentators, with one praising him as "a professional who is prepared to go the extra mile for his clients." Others consider him to be a "very good practitioner, with a considerable presence in the market." He centres his practice on banking, acquisition and project financings, often involving capital markets products, for a variety of clients, including local and international financial institutions.

^ See whole ranking table

Band 1

Diego M Serrano Redonnet

Pérez Alati, Grondona, Benites & Arntsen

From the Chambers Latin America guide

Widely acclaimed Diego Serrano Redonnet is recommended by interviewees, who emphasise: "He knows everything and nothing is out of reach - he always has an answer." Others laud him as "one of the greatest lawyers in Argentina," commenting that "he is extremely knowledgeable and a leader in the market." Serrano Redonnet centres his practice on debt and equity capital markets, debt restructurings and complex M&A transactions.

^ See whole ranking table

Band 1

Roberto E Silva Jr

Marval, O'Farrell & Mairal

From the Chambers Latin America guide

Highly respected Roberto Silva Jr is endorsed by interviewees, who describe him as "a very good practitioner and a reference in the market." One goes on to comment: "I have an excellent opinion of him." Silva principally focuses his practice on the banking and finance sector and has a long history advising on loans and securities, particularly bond issuances. He additionally assists clients with private banking and restructuring mandates.

^ See whole ranking table

Band 2

Marcelo Etchebarne

Cabanellas, Etchebarne & Kelly

From the Chambers Latin America guide

One impressed interviewee hails Marcelo Etchebarne as "completely dedicated and commercial," and goes on to add: "He is very knowledgeable and experienced." Etchebarne is recognised for his significant expertise in securities offerings, including sovereign and sub-sovereign debt issuances as well as bondholder litigation. He centres his practice on representing Argentine provinces in transactions.

^ See whole ranking table

Band 2

Carlos E Lombardi

Bruchou, Fernández Madero & Lombardi

From the Chambers Latin America guide

According to observers, Carlos Lombardi is "a very good" practitioner. He has long-standing experience in Argentina's banking and finance sector, as well as in-depth knowledge of capital markets mandates. Lombardi possesses further expertise acting on a number of securitisation and structured finance transactions.

^ See whole ranking table

Band 2

Gabriel Matarasso

Marval, O'Farrell & Mairal

From the Chambers Latin America guide

Observers describe Gabriel Matarasso as "a very good practitioner," and one comments: "I have a high opinion of his work in this field." Matarasso is particularly well versed in capital markets, with a notable focus on sub-sovereign debt offerings and secured loans. Further areas of specialisation encompass real estate mandates, as well as insolvency and restructuring.

^ See whole ranking table

Band 2

Tanoira Cassagne

From the Chambers Latin America guide

Co-head of department Alexia Rosenthal is singled out by interviewees as an "excellent" practitioner in this market. Rosenthal has expertise acting on capital markets transactions, as well as cross-border lending and acquisition financing. She led the team on the aforementioned work highlight for Banco de Galicia y Buenos Aires.

^ See whole ranking table

Band 2

Zang, Bergel y Viñes Abogados

From the Chambers Latin America guide

Observers are quick to praise Carolina Zang, as one comments that they "trust her advice and her ability to obtain the best results." Another states: "She is very available, highly experienced and has a good attitude." Zang is well positioned to handle debt restructurings and cross-border secured and syndicated loans. She led the team on the aforementioned Banco Hipotecario work highlight.

^ See whole ranking table

Band 3

Analía Battaglia

Bruchou, Fernández Madero & Lombardi

From the Chambers Latin America guide

Analía Battaglia receives significant praise from clients, with one singling her out, as they note: "I would recommend her. She is very good at banking mandates and is particularly well known in the market." Battaglia principally focuses her practice on debt restructurings and acquisition finance.

^ See whole ranking table

Band 3

McEwan, Roberts, Dominguez, Carassai

From the Chambers Latin America guide

Interviewees value Hernán Carassai's "in-depth knowledge of the market and interesting ideas and solutions." Others highlight his good attitude, availability and efficiency. Carassai is regularly called upon by clients to advise lenders, borrowers and issuers on a broad array of financings, including debt placements.

^ See whole ranking table

Band 3

M & M Bomchil

From the Chambers Latin America guide

Fermin Caride receives significant praise from clients, as one remarks: "He is excellent at providing advice on capital markets and banking law. With him, you know beforehand that any problem will be resolved quickly. He is 100% dedicated." They go on to enthuse: "He is methodical, sophisticated, practical and proactive, with solid knowledge of this market."

^ See whole ranking table

Band 3

Hope, Duggan & Silva

From the Chambers Latin America guide

Juan Duggan of Hope, Duggan & Silva receives endorsement from interviewees, who recognise him as an important practitioner in the local market. Duggan has particular expertise in trade finance, including pre-export facilities, alongside advising multilateral organisations in their role as lenders.

^ See whole ranking table

Band 3

Roberto Fortunati

Beccar Varela

From the Chambers Latin America guide

Roberto Fortunati is highlighted by sources as "a very knowledgeable lawyer in the banking industry." He is noted for his significant activity advising on project financing matters for clients involved in the oil and gas and mining sectors. He is additionally well versed assisting with debt restructuring transactions.

^ See whole ranking table

Band 3

Mario Oscar Kenny

Nicholson y Cano Abogados

From the Chambers Latin America guide

Mario Oscar Kenny principally focuses his practice on financial trusts and secured lending. He has in-depth knowledge of the issuance of negotiable bonds, alongside securitisation mandates, regularly acting for a range of financial institutions, as well as multinational corporations.

^ See whole ranking table

Band 3

Marval, O'Farrell & Mairal

From the Chambers Latin America guide

Cecilia Mairal receives endorsement for her standing in the banking and finance market. Mairal is well equipped to represent an impressive roster of major investment banks in their operations in Argentina, including advising on syndicated loans and debt restructurings.

^ See whole ranking table

Band 3

Carlos María Melhem

Allende & Brea

From the Chambers Latin America guide

Carlos María Melhem is endorsed by market sources, who comment: "He provides high-quality advice," while another highlights that "he is very present, visible and efficient." He centres his practice on loans and structured financings for a variety of local and international financial institutions and corporations.

^ See whole ranking table

Band 3

Mitrani Caballero & Ruiz Moreno

From the Chambers Latin America guide

Interviewees describe head of department Diego Parise as a "professional, efficient practitioner, with a practical view of the problems at hand." He is noted for his expertise in secured and syndicated loans, securities offerings as well as bank and acquisition financing.

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Band 3

Carlos Marcelo Villegas

Nicholson y Cano Abogados

From the Chambers Latin America guide

One impressed client enthuses that Marcelo Villegas is "a very intelligent guy. He is very committed to the work he is doing and is good at managing clients' issues." Villegas is recognised for his noteworthy experience in the financing of M&A deals, as well as restructuring transactions. He led on the Havanna Holding IPO work highlight.

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Band 4

Salaverri, Burgio & Wetzler Malbran

From the Chambers Latin America guide

Partner Tomás Arnaude is highlighted by observers for his capital markets practice and his focus on lending transactions, as one notes that "he is very active in the market," with another stating: "He is a great transactional lawyer."

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Band 4

Estudio Levene

From the Chambers Latin America guide

Sources remark that Carolina Arroyo of Estudio Levene is "a very intelligent and good practitioner." She is noted for her experience in bond offerings.

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Band 4

José María Bazán

Bruchou, Fernández Madero & Lombardi

From the Chambers Latin America guide

José María Bazán is recognised by the market as "an excellent lawyer." One client enthuses: "I am very happy with his work. He knows the market and is readily available to explore alternatives," and continues: "He is very flexible and is always adding value."

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Band 4

Nestor José Belgrano

M & M Bomchil

From the Chambers Latin America guide

Head of department Nestor José Belgrano is described by interviewees as "a well-known lawyer." Belgrano's long-standing experience spans banking law, ship and aircraft financing and capital markets. He often assist clients with syndicated lending and equity investments.

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Band 4

Agustín Cerolini

Cerolini & Ferrari Abogados

From the Chambers Latin America guide

Agustín Cerolini receives endorsement from clients who describe him as "good" at leading transactions and "very detailed" in his analysis. Cerolini benefits from experience advising clients from the finance sphere on an array of sector-related matters including bond issuances, syndicated loans and IPOs.

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Band 4

Beccar Varela

From the Chambers Latin America guide

Making his debut in the rankings, Roberto Crouzel is described as a "talented" lawyer, with "quite a reputation in the market," according to interviewees. He is often retained by a number of banks and other financial entities to advise on a variety of transactions.

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Band 4

Maximiliano N D'Auro

Beccar Varela

From the Chambers Latin America guide

Maximiliano D'Auro is recognised for his experience assisting local and international clients with both the structuring of financial transactions and regulatory issues. D'Auro focuses his practice on anti-corruption law and compliance.

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Band 4

Julieta De Ruggiero

Tavarone, Rovelli, Salim & Miani - Abogados

From the Chambers Latin America guide

Julieta De Ruggiero is described by interviewees as "very smart and intelligent," and they go on to highlight her expertise in domestic regulatory mandates. She has considerable experience in the issuance of bonds and public tender offers.

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Band 4

Juan Diehl Moreno

Marval, O'Farrell & Mairal

From the Chambers Latin America guide

Juan Diehl Moreno is recognised by the market as "a good lawyer" in this arena. Diehl Moreno's principal areas of expertise include foreign exchange control and capital markets transactions.

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Band 4

Gabriel Gómez Giglio

Baker McKenzie

From the Chambers Latin America guide

Head of department Gabriel Gómez Giglio is praised by clients as "a proactive, open, serious and methodical practitioner, who is always willing to help." Gómez Giglio is well versed assisting with cross-border transactions, securities law and regulatory finance issues.

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Band 4

Errecondo, González & Funes Abogados

From the Chambers Latin America guide

Baruki González is held in high esteem by market commentators, with one highlighting his knowledge of this field and his experience. González is well positioned to assist clients with a range of capital markets transactions, as well as private equity and M&A mandates.

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Band 4

María Gabriela Grigioni

Pérez Alati, Grondona, Benites & Arntsen

From the Chambers Latin America guide

Interviewees recognise María Gabriela Grigioni as a "good" practitioner in this area. Grigioni has experience representing both borrowers and issuers and she is also noted for her academic profile, particularly with regards to capital markets regulations and banking law.

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Band 4

Severgnini, Robiola, Grinberg & Tombeur

From the Chambers Latin America guide

Matías Grinberg is a well-recognised practitioner for his abilities in the banking and finance market. Grinberg is experienced in the issuance of bonds and debt restructuring, as well as corporate and M&A transactions. He was part of the team assisting with the aforementioned AES Generación Argentina work highlight.

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Band 4

Sebastián Luegmayer

Estudio O'Farrell

From the Chambers Latin America guide

Sebastián Luegmayer is referred to as an "excellent" lawyer by clients. Luegmayer has considerable experience assisting clients with a range of sector-related issues, such as the issuance of notes, derivatives and financial trusts. He served as co-lead partner on the aforementioned YPF highlight.

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Band 4

Javier L Magnasco

Beccar Varela

From the Chambers Latin America guide

Javier Magnasco is described by clients as "proactive and meticulous in his analysis." Magnasco's areas of expertise encompass representing banking entities, financial institutions and corporations in a variety of mandates, including debt restructuring and project finance.

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Band 4

Julio Ricardo Martínez

Mitrani Caballero & Ruiz Moreno

From the Chambers Latin America guide

Sources describe Julio Ricardo Martínez as an "intelligent, active and pro-deal" lawyer. Martínez has experience in debt and equity offerings, securitisations and project finance, alongside considerable understanding of foreign exchange regulations.

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Band 4

José Martínez de Hoz (n)

Martinez de Hoz & Rueda

From the Chambers Latin America guide

José Martínez de Hoz (n) of Martinez de Hoz & Rueda is underlined by observers as "a pleasure to work with," and they add that he is "competent, pragmatic and always trying to find solutions." He has experience providing counsel on both domestic and cross-border mandates, with knowledge of credit and debt financing transactions.

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Band 4

Allende & Brea

From the Chambers Latin America guide

According to clients Jorge Mayora "is very organised, highly professional and pays great attention to the matters at hand." Mayora is well equipped to advise financial entities on loans and transactions involving derivatives.

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Band 4

Alejandro Ezequiel Noblía

Cabanellas, Etchebarne & Kelly

From the Chambers Latin America guide

According to sources, Alejandro Ezequiel Noblía "has a great deal of experience in financial matters and has excellent knowledge of the context of the mandates he handles. He is a very effective and hard-working lawyer." Noblía has specific expertise in structured finance and financial trusts.

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Band 4

Tavarone, Rovelli, Salim & Miani - Abogados

From the Chambers Latin America guide

Federico Salim is commended by market sources as "a good lawyer," with another stating: "He is impressive." Salim has represented clients in both project financing and debt restructuring, in addition to acting for lenders and borrowers on the structuring of acquisitions and equity investments.

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Band 4

Marcelo Rafael Tavarone

Tavarone, Rovelli, Salim & Miani - Abogados

From the Chambers Latin America guide

One source endorses Marcelo Rafael Tavarone, commenting that "his knowledge of the relevant regulations is very valuable to us." Tavarone is a specialist in banking and finance law and also offers expertise in capital markets and foreign exchange regulations.

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Band 4

Carlos María Tombeur

Severgnini, Robiola, Grinberg & Tombeur

From the Chambers Latin America guide

Carlos María Tombeur stands out to market commentators for his involvement in this sector, with one considering him to be "an outstanding lawyer." Main areas of focus for Tombeur's practice are lending and securities matters. He also served as lead partner on the work highlight listed above.

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Band 4

Gustavo Javier Torassa

Bulló Abogados

From the Chambers Latin America guide

Market sources describe Gustavo Javier Torassa as "a good lawyer," who is "professional, detail-oriented and able to adapt to the needs of the client in each particular case." Alongside banking and finance, Torassa also has an active dispute resolution practice.

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Band 4

Pablo José Torretta

Beccar Varela

From the Chambers Latin America guide

Clients recognise Pablo José Torretta as "very knowledgeable of central bank and foreign exchange regulations." He is singled out for his activity assisting with banking and finance regulations, loans and debt restructuring, among other areas.

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Band 4

Venturini Warat

From the Chambers Latin America guide

Tito Venturini of Venturini Warat is a notable figure in Argentina's banking and finance sphere. Venturini focuses on bank lending, with considerable experience assisting clients with syndicated and collateralised loans.

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Up and Coming

Tavarone, Rovelli, Salim & Miani - Abogados

From the Chambers Latin America guide

Up-and-coming partner Juan Pablo Bove is held in high esteem by market commentators for his practice in this field, with the consensus being that he has considerable strength in banking and finance mandates. He concentrates his practice on debt restructurings and issuances, as well as loans.

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Up and Coming

Martin Fernandez Dussaut

Salaverri, Burgio & Wetzler Malbran

From the Chambers Latin America guide

Up-and-coming partner Martin Fernandez Dussaut is praised by interviewees, who acknowledge his presence in this field. Fernandez Dussaut focuses his practice on capital markets, corporate finance and M&A deals, among other areas.

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Up and Coming

Salaverri, Burgio & Wetzler Malbran

From the Chambers Latin America guide

Up-and-coming partner Victoria Hitce is described by one source as "a very good lawyer," as another goes on to appreciate the "great experience" they have when they work with her. She is a specialist in banking and capital markets mandates, as well as competition law and M&A transactions.

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Up and Coming

Cabanellas, Etchebarne & Kelly

From the Chambers Latin America guide

Up-and-coming partner Justo Segura is praised by market observers as "a client-oriented and pro-deal practitioner who always provides high-quality legal advice." They go on to comment: "He has extensive knowledge of the complex Argentine regulatory environment."

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Associates to watch

M & M Bomchil

From the Chambers Latin America guide

Associate-to-watch Victoria Funes is lauded by observers as "a great person and a fantastic lawyer." She is well versed in advising clients on capital markets and financing operations, as well as banking regulations.

^ See whole ranking table