Gianluca Bacchiocchi is a capital markets, projects and banking and finance partner in Clifford Chance's Americas Energy & Infrastructure Group.
He focuses his practice on representing sponsors, issuers and underwriters in cross-border capital markets transactions with Latin America, including project bond and multisourced financings, issuances of asset-backed securities, future-flow backed securities and high-yield debt.
Gianluca also assists sponsors, borrowers and lenders with project and infrastructure financings, public-private partnership bidding processes, general secured and unsecured lending arrangements and international debt restructurings. He is recognised as a leading practitioner in the Latin America finance, projects and capital markets sections of Chambers and Legal 500, with the former noting that he is "considered a pioneer in the area of project bonds” and the latter that he is “a dominant figure for project bonds.” Gianluca is fluent in Italian, Portuguese, and Spanish.
- The Concessionaire (Metro de Lima Linea 2 S.A.) and its six shareholders Iridium, Salini Impregilo, Hitachi Rail, Hitachi Rail STS, FCC and Cosapi in the US$563.2 securitization of Peruvian government receivables (RPI-CAOs) to finance the design, construction, operation, maintenance, electromechanical equipping, systems equipping and supply of rolling stock for Line 2 of the Lima and Callao Metro system; Structured Financing of the Year, Latin Finance Awards 2019
- An international bank (as structurer, sole bookrunner and initial purchaser) on the US$732.2 million financing for the Loma Plata – Carmelo Peralta segment of the Corredor Bioceanico road in Paraguay, which was the first-ever securitization of government receivables out of Paraguay; Bond of the Year, Latin Finance Awards 2019
- Goldman Sachs on the hybrid financing for the construction of the first toll road awarded under the PPP scheme in Paraguay, which included a forward purchase agreement, a Rule 144A/Reg S securitization of government receivables and the first ever letter of credit facility by IDB Invest to facilitate working capital advances from the bond proceeds. This project was the largest-ever private investment in Paraguayan infrastructure
- An international bank on the Rule 144/Reg S securitization of government receivables for the development of the integral rail system of Panama City Metro line 2, which involved the first ever issuance of CDNO backed project bonds
- Mizuho with respect to the US$273 million 144A/Reg S securitization of CPAOs for the Lima Metro Line 1 Expansion and partial repayment of the CPAO term loan facility in Peru
- A consortium led by China Harbour Engineering Company Limited (CHEC), SP Ingenieros SAS, Unidad de Infraestructura y Construcciones Asociadas SAS and Termotécnica Coindustrial SAS. in the approximately US$658 million multi-tranche, multi-currency, term loan financing for the Mar 2 toll road project in Colombia. The transaction was comprised of a combination of USD and COP commercial bank loans and interest rate and currency hedges
- Citibank as initial purchaser with respect to a Rule 144A and Reg S project bond used to refinance the Ruta 27 toll road in Costa Rica. This was the first time a Costa Rican entity operating an infrastructure asset issued project finance-style bonds, and the first time also that both bonds were issued simultaneously for a Costa Rican issuer; Best Infrastructure Financing: Central America, Latin Finance Awards 2017; Project Bond Deal of the Year, IJGlobal Awards 2017
- Allianz Global Investors U.S. LLC (acting on behalf of its clients) in connection with the fixed rate US$250 million 18-year 4(a)(2) private placement to refinance the Peruvian wind farms Parque Eólico Marcona S.A.C. and Parque Eólico Tres Hermanas S.A.C.
- Goldman Sachs (as initial purchaser), and Bancolombia, FDN and the CAF-AM Ashmore Debt Fund (as senior lenders) in the approximately US$708 million multi-source and multi-currency financing for the Ruta al Mar toll road project in Colombia, which included a combination of Rule 144A/Reg S COP bonds indexed to the UVR, and COP and UVR commercial bank and debt fund loans. Ruta al Mar is the first private initiative to be financed under Colombia's 4G program and is also the first toll road to be financed in Colombia based entirely on traffic revenues; Transport Deal of the Year, IJGlobal Awards 2017
- Goldman Sachs, as initial purchaser and sole coordinator and bookrunner in connection with a Rule 144A/Reg S US$350 million notes issuance maturing in 2031 as well as a Brazilian debenture bridge financing to refinance existing notes issued by Brazilian port terminal owner Prumo Participações e Investimentos S.A.
- Clifford Chance Wins Big at the 2017 LatinFinance Project & Infrastructure Finance Awards
10 October 2017
News and client work
Career and qualifications
- University of Michigan (B.A.) 1994
- Joined Clifford Chance as partner 2015
Awards and citations
- Gianluca Bacchiocchi is singled out by interviewees as "a big picture kind of partner." They go on to add: "He is a very good communicator and a detail-oriented lawyer." His expansive knowledge of project financing makes him an obvious choice to prominent borrowers and lenders engaged in high-value regional infrastructure deals. He is highly adept at handling Latin American transactions and has been particularly active in Argentina, Paraguay and Colombia.
Chambers Latin America 2020, Projects – Latin America-wide
- Gianluca Bacchiocchi is well regarded for his understanding of Latin American capital markets transactions, with a distinct focus on project finance matters. He has notable experience in representing financial institutions acting as initial purchasers and arrangers in project bond offerings and securitisation deals.
Chambers Latin America 2020, Capital Markets – Latin America-wide
- The "fantastic" Gianluca Bacchiocchi is "smart and commercial, the kind of person you want on your side," according to one interviewee. He has long-standing experience representing international and local investment banks as sponsors in intricate cross-border infrastructure project financings across the region.
Chambers Latin America 2019, Projects – Latin America-wide
- Gianluca Bacchiocchi garners praise from peers for his knowledge of structured financial products. He combines his expertise of debt financing and energy and infrastructure to advise financial institutions on complex, multi-source debt securities offerings to raise capital for projects.
Chambers Latin America 2019, Capital Markets – Latin America-wide
- Ranked as a Leading Individual. Gianluca Bacchiocchi is "the go to guy for many of the banks" on project bonds, and has impressed further in hybrid financings and PPPs in Argentina.
Legal 500 Latin America 2019, Projects and Energy – International Firms
- Gianluca Bacchiocchi is widely regarded as one of the market leading forces in project bond financings
Legal 500 Latin America 2019, Capital Markets – International Firms
- Ranked as a Leading Individual. New York’s Gianluca Bacchiocchi is a prominent figure in project bonds and hybrid and multi-source financings, most notably in Colombia and Peru where he advises a range of commercial and investment banks, multilateral agencies and sponsors.
Legal 500 Latin America 2018, Projects and Energy – International Firms
- Gianluca Bacchiocchi is noted for his expertise in complex capital market financing, particularly in securitisation and in the issuance of project bonds. Clients are full of praise for him, describing him as "technically one of the best out there, detail-oriented - there's nothing he doesn't catch." They add: "He stands apart for his creative ideas on solving issues." Bacchiocchi is also recognised for his specialisation in the Peruvian market.
Chambers Latin America 2018, Projects – Latin America-wide
- Clients describe Gianluca Bacchiocchi as "highly available and proactive, with both sector and product expertise." Market sources recognise his prominence in infrastructure project financing.
Chambers Latin America 2018, Capital Markets – Latin America-wide
- Gianluca Bacchiocchi has been ranked in Chambers USA - Latin American Investment (New York). Gianluca Bacchiocchi advises on capital markets and banking and finance matters. He is best known for his deep understanding of the Peruvian market, where he has an especially strong reputation in the field of project bonds. Sources say that he is "excellent and very practical."
Chambers USA 2017- Latin American Investment
- Gianluca has been named a "Foreign Expert" by Chambers Global and has been recognized in Chambers Latin America for his capital markets, banking and finance, and projects work. He "is described by sources as 'the go-to person and an excellent leader.' They add: '[h]e manages on the transactional side and makes sure it goes smoothly. He is capable of achieving very impressive results and co-ordinating both the international and local aspects'." Sources attest to an impressive 'business saviness'" and "describe him as 'a very business-driven lawyer'."