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Clifford Chance

Clifford Chance

Latin America Group

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



  • Goldman Sachs
    Represented Goldman Sachs and a number of Colombian bank and debt fund lenders in a committed USD$2 billion multi-source and multi-currency debt package financing for the development of the Conexión Pacífico 3, Costera Cartagena Barranquilla and Alto Magdalena toll road projects awarded as part of the Fourth Generation (4G) Road Program in Colombia. (These financings included various combinations of Rule 144A/Reg S dollar bonds, inflation-indexed Colombian peso bonds, senior Colombian peso loans, a subordinated revolving liquidity facility and various currency and interest rate hedges. The Conexión Pacífico 3 financing was the first 4G project to be financed internationally and the first project bond ever in the history of Colombia.) It was recognized by LatinFinance as the Best Road Financing and Best Infrastructure Financing – Andes in 2016.
  • Metro de Lima Linea 2 S.A.
    Advised Metro de Lima Linea 2 S.A., ACS/Iridium, FCC, Salini Impregilo, Ansaldo STS, AnsaldoBreda and COSAPI on the multisourced financing for the USD$5.3 billion Line 2 of the Lima and Callao Metro Project. Trade Finance Americas Deal of the Year, Latin America Multisourced financing Deal of the year, IJGlobal, Project Finance deal of the year, IFLR Americas, Americas P3 Deal of the Year 2015, Project Finance International.
  • Deutsche Bank
    We advised Deutsche Bank as underwriter on a USD$100 million follow-on SEC registered offering for Gruma, S.A. de C.V., the world‘s largest producer of corn flour and tortillas
  • IDB
    We advised IDB and a group of commercial banks in respect of the financing of the USD$1 billion Chaglla hydroelectric project in Peru, which is being developed by Odebrecht
  • Reventazon (Hydroelectric Project)
    Advised the arranger, multilaterals and other lenders in the structuring the first "B bond" (i.e. a B loan under a multilateral A/B loan program that is to be financed through the capital markets) ever to finance a greenfield project in Latin America.
  • Banco Bradesco
    We advised Banco Bradesco in its announced USD$5.2 billion acquisition of HSBC Holdings PLC’s Brazilian banking business
  • Coca-Cola
    We advised Coca-Cola and Coca-Cola FEMSA in the USD$580 million announced acquisition of AdeS, a leading South American soy-based beverage, from Unilever
  • Abertis Infraestructuras
    We are advising the Spanish multinational in an UNCITRAL claim for breaches of a BIT arising out of the expropriation of a concession agreement to run the three international airports of Bolivia.
  • Credit Suisse and Citigroup
    Advised Credit Suisse and Citigroup, as joint bookrunners, in the issuance of USD$2 billion of its 7.95% Notes. 2014 Sovereign Bond of the Year, Latin Finance

Directory and client comments

  • "A lot of experience with the market conditions and applicable regulation, consequently very effective in discussions and with a pragmatic approach"
    Legal 500 Latin America 2022: Banking & Finance: International Firms – Tier 1
  • "Clifford Chance has been a dominant force in Latin America projects and energy for some years now, having leveraged its tight links to investment and commercial banks, development finance institutions (DFIs) and agency lenders, and a range of sponsors."
    Legal 500 Latin America 2022: Projects & Energy: International Firms – Tier 1
  • "A highly qualified team that combines deep technical knowledge with vast practical experience in solving diverse issues that arise in the context of a capital markets operation."
    Legal 500 Latin America 2022: Capital Markets: International Firms
  • "Clients praise the ‘very good’ international arbitration practice at Clifford Chance for its ‘sharpness and objectivity in handling cases’ - primarily international investment treaty and commercial arbitrations in the construction, energy, infrastructure and oil-and-gas industries."
    Legal 500 Latin America 2022: International Arbitration: International Firms
  • "Clifford Chance enjoys an outstanding project finance department recognized for its ability to handle highly sophisticated mandates throughout Latin America, with particular experience acting in the Brazilian, Colombian and Peruvian markets. Boasts exceptional knowledge of the financing and development of renewable energy projects and transport infrastructure, such as toll roads, metro systems and ports. Caters to a host of discerning project sponsors and financiers, frequently acting for leading corporate entities, institutional investors and development banks."
    Chambers Latin America 2022: Project Finance 
  • "Clifford Chance’s team takes the initiative more than any firm I have worked with to anticipate issues and provide solutions. They always meet their commitments."
    Legal 500 Latin America 2020: Banking & Finance: International Firms – Tier 1
  • "Stellar international practice offering market-leading expertise in project finance and development across Latin America. Repeatedly called upon by blue-chip corporations and financial institutions to assist with a range of  sophisticated projects, including those concerning both renewable energy and transport infrastructure."
    Chambers Latin America 2020: Projects (Latin America-Wide): Band 1
  • "The Latin America team delivers 'the gold standard for responsiveness', is 'practical and business-oriented' and has 'strong energy sector knowledge'; staffed by 'hands-on partners' and 'very high quality and experienced professionals that have a pragmatic approach' and 'deep knowledge', this 'allows the team to perform very well in fast-paced and complex, multi-jurisdictional transactions'."
    Legal 500 Latin America 2019: Corporate and M&A: International Firms – Tier 1 
  • "Clifford Chance is a powerhouse for Latin America capital markets."
    Legal 500 Latin America 2020: Capital Markets: International Firms – Tier 1

Recent Awards

  • Infrastructure Financing of the Year – Southern Cone: Rutas 2 y 7 – Government of Paraguay
    LatinFinance Awards 2020
  • Project Sponsor of the Year: China Harbour Engineering Company led Consortium for Colombia's Autopista al Mar 2
    LatinFinance Awards 2020
  • Project Finance Infrastructure deal: Uruguay finances Montevideo-Paso de los Toros railway PPP
    Latin Lawyer Awards 2019
  • Banking and Finance deal: China Three Gorges hydroelectric dam refinancing
    Latin Lawyer Awards 2019
  • Restructuring Deal of the Year: Oi
    Latin Lawyer Awards 2019
  • Telecoms Deal of the Year: Internet Para Todos
    IJGlobal Awards 2019

The growth of ESG in Latin America

"As a member of the firm's global ESG Board, I'm seeing first-hand the increasing appetite for ESG-related investment opportunities worldwide. Latin America is no exception to the rule. We've been helping our clients to not only comply with ESG-related obligations, but develop best practices in the field, and capitalise on ESG value creation opportunities. It's a fascinating time for the Latin America region, with some really exciting projects and new policies around ESG emerging."

Thais Garcia, Partner, New York

Our ESG expertise



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