Clifford Chance
We help regional and international clients make the most of the region's healthy diversity of investment opportunities, which enables them to stay busy through all economic life cycles.
Local and regional know-how that delivers results
We were the first global firm with a dedicated Latin America practice providing clients with holistic advice across the region's highly diverse legal, economic and cultural landscapes. We have been working in Latin America for decades and have a long history of acting in the region for all types of clients – corporates, investors, investment banks, commercial lenders, export credit agencies, multilateral and bilateral development agencies and sovereign and sub-sovereign governments.
Our firm is ranked Band 1 and Tier 1 in several practices by Chambers Latin America and Legal 500 Latin America, respectively, and our attorneys are recognized prominently recognized at all levels. For example, we have the most associates listed as Rising Stars in Legal 500 Latin Americafor 2020 among all international firms. Our people and the transactions they work on are often recognized by leading publications as team or transaction of the year. In 2020, we were awarded Deal of the Year designations in LatinFinance and Latin Lawyer. Our expertise and the wealth of our experience across the full range of practices, including capital markets, banking, corporate, project finance, energy & infrastructure, structured finance and litigation, enables us to provide cutting-edge, practical and coordinated legal advice covering the needs of our clients throughout the region.
Few law firms can match our integrated Latin America practice. Our team regularly works on the most sophisticated, cross-border deals for inbound and outbound investments in Latin America.
We offer bespoke teams comprised of partners and associates at all levels who are native or fluent in Spanish, Portuguese and English – and who have a deep cultural understanding of doing business in the region.
As an international law firm, we have advised on client matters in:
Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Mexico, Nicaragua, Honduras, Jamaica, Panama, Peru, Puerto Rico, Uruguay, Venezuela.
Recent highlights
Deals
- Advised IDB Invest and Proparco as lender and guarantor, respectively, in connection with the financing by IDB Invest of a long-term local currency loan package for up to R$1,500 million (~$300 million) to Águas do Rio 1 and Águas do Rio 4 (concessions of Aegea Group, Brazil's largest private sanitation company). This transaction is part of the largest cycle of investment in Brazil's sanitation sector to date and is expected to contribute to and promote seven UN Sustainable Development Goals.
- Advised IDB Invest and Bancolombia, in connection with a COP 656 billion multi-tranche and multi-currency financing to developer Solarpack to finance solar PV projects in Colombia. The loan will support the development of two plants, La Unión and La Mata, with nominal capacities of 108MW and 144MW, respectively. This is the largest solar plant financing in Colombia to date and also the first financing of projects awarded under the renewable energy auction in the country.
- Advised JPMorgan and Banco Santander, as lead arrangers, and MUFG, Instituto de Crédito Oficial, JPMorgan, Banco Santander, Banco Latinoamericano de Comercio Exterior (Bladex), Allianz Capital Partners, MetLife, IDB Invest, BlackRock and Financiera de Desarrollo Nacional (FDN), as lenders, noteholders, letter of credit issuers and/or hedge providers in connection with the refinancing of the project finance debt incurred to finance the construction and development of the Pamplona-Cúcuta 4G toll road in Colombia. This transaction represents the largest infrastructure project-related social bond issuance to this date in Latin America, and it is expected to contribute to and promote four UN Sustainable Development Goals.
- Advised BofA Securities, Inc., Daiwa Capital Markets Europe Limited, Goldman Sachs International and HSBC Securities (USA) as the underwriters in Latin American development bank CAF's US$1.75 billion 6% notes offering due 2027. This is CAF's largest US dollar issuance to date. We also advised on the US$1.5 billion bond issuance by CAF, previously its largest issuance.
- Advised Centrais Elétricas Brasileiras S.A. (Eletrobras), Latin America's largest utility, as issuer in connection with its international offering and placement of its common shares outside Brazil, including a registered offering of American depositary shares in the United States. The company raised US$6.9 billion (R$29.3 billion), making this the second-largest equity deal of 2022, and the largest in the western hemisphere.
Directory and client comments
- "Clifford Chance has an outstanding project finance department recognized for its ability to handle highly sophisticated mandates throughout Latin America, with particular experience acting in the Colombian, Peruvian and Chilean markets. The team has exceptional knowledge of the financing and development of renewable energy and oil and gas projects, as well as transport infrastructure, such as toll roads, metro systems, and ports."
Chambers Latin America 2024: Project Finance (International Counsel): Band 1 - "At the forefront of green bonds and sustainability-linked financings. ...has earned accolades for its work in infrastructure financings, including toll roads, metro lines, mass transportation systems and port projects"
Legal 500 Latin America 2024: Projects and Energy: International Firms – Tier 1 - "In addition to the experience, the collaboration and support that the firm offers, the transactions in which it has acted as advisor is noteworthy. They stand out considerably for the solidity and clarity with which they present their positions and arguments, as well as the review and delivery times of reviewed documents."
Legal 500 Latin America 2024: Banking and Finance: International Firms – Tier 1 - "Clifford Chance's attorneys are always available and provide a timely service of impeccable quality. They are committed and well organized, and their support is permanent."
Chambers Latin America 2024: Corporate/M&A (International Counsel) - "The team has a number of strong lawyers with different assets, making them a reliable source of advice as they are able to tap the different members of the team depending on the circumstances."
Legal 500 Latin America 2024: Capital Markets: International Firms - "The international arbitration team is a legal team that you want to have on your side."
Legal 500 Latin America 2024: International arbitration: International Firms
Recent Awards
- Latin Lawyer International Elite Law Firm 2024
- Infrastructure Law Firm of the Year: Andes
LatinFinance Project & Infrastructure Finance Awards 2023 - Social Infrastructure Financing of the Year: Transmilenio 2 e-Bus Financing
LatinFinance Project & Infrastructure Finance Awards 2023 - Infrastructure Financing of the Year: Andes AND Road Financing of the Year: Via 40 4G Toll Road Financing
LatinFinance Project & Infrastructure Finance Awards 2023 - Structured Finance Deal of the Year: Unión Vial Río Pamplonita S.A.S., Fideicomiso Unión Vial Río Pamplonita S.A.S. - Term Loan and Private Placement
Bonds, Loans & ESG Capital Markets Latin America and Caribbean Awards 2023 - Capital markets Deal of the Year: Brazil privatizes Eletrobras:
Latin Lawyer Deal of the Year Awards 2022
