The large capital markets team at full-service firm Barros & Errázuriz fields specialists in the issuance of securities and public offering of bonds and shares, both in the domestic and international markets; and in relation to Chile’s investment fund industry, the practice acts for a range of domestic and international management companies and investment banks, as well as Chilean investments funds managers and stockbrokers. The team is additionally able to leverage the experience of its M&A, corporate tax and real estate colleagues for capital markets deals. Co-leading the department, Luis Alberto Letelier assists issuers with placing debt and equity on the market; firm managing partner Cristián Barros has 30-plus years’ experience in capital markets advisory work; Víctor Barros' track record includes advising on the issuance and placement of public investment funds; and Javier Díaz spearheads the firm’s regulatory work. In the senior associate ranks, Juan Ignacio Galdámez is admitted to practice in both Chile and New York; Francisco Vial advises listed companies and investment funds on corporate matters and securities regulation; Pedro Pablo Cruz specialises in capital markets, investment fund structuring, mutual funds and securities regulation; and Juan Pablo Feliú's workload encompasses capital markets issuances and the regulation of securities’ issuers.

Full-service legal market giant Carey houses a 43-strong practice that advises public and private companies, financial institutions, investors, emerging companies and private equity and investment funds on high-profile securities offerings, including cross-border IPOs, capital increases, debt issuances and securitisations. The group also covers derivatives and funds. Representative experience includes advising issuers and bond and stockholders on corporate and securitised bonds, as well as public and private securities; and in addition to assisting clients with structuring and registering issuers and securities, it manages relationships with stock exchanges, including reporting requirements, periodic disclosures and securities regulations. Among the firm’s several experienced practitioners, Diego Peralta‘s recent workload includes advising Chilean state-owned copper mining company Codelco on the issuance and sale of securities for a total amount of $2bn; Salvador Valdés assists with the issuance of local bonds and other capital markets deals; Francisco Ugarte focuses on helping clients structure debt and equity transactions; Cristián Eyzaguirre is a fund formation expert; and Jorge Ugarte‘s practice covers debt and equity capital markets, along with liability management transactions. The other co-heads are Cristián Figueroa, whose track record includes advising a public company on a capital increase and equity public offering for $3bn; Patricia Silberman, whose career includes several years in the New York office of legacy firm Chadbourne & Parke; securities offering specialist Fernando Noriega; and Alejandra Daroch, an adviser on derivatives, securities and corporate and securitised bonds. In the associate pool, senior Angélica De la Carrera assists with capital and debt issuances, as well as securities.

The 16-strong capital markets department at full-service firm Claro & Cia. handles high-end deals across various sectors, including energy, infrastructure, mining, retail and financial services. With ‘in-depth knowledge of every subject and impeccable delivery’, the team covers the gamut of capital market transactions, including IPOs, secondary offerings, debt issuances, and exchange offers. Major recent highlights include acting as the primary adviser to LATAM Airlines on its headline $456m return to the New York Stock Exchange through a secondary offering of American Depositary Shares. It also acted for Chilean chemical company SQM on its $850m notes issuance. The practice is co-led by Rodrigo Ochagavía, whose recent experience includes large-value bond financings; and José Luis Ambrosy, a regular adviser on project bonds. Other names to note are: Felipe Larraín, whose experience encompasses public transactions involving tender offers, equity offerings, securities laws and corporate governance issues; capital increase and tender offer specialist Luisa Núñez; banking and capital markets regulation practitioner Juan José León; and cross-border transaction expert José María Eyzaguirre F, whose ’advice is outstanding’. Beyond the partnership, counsel Cristián Lagos advises companies and financial institutions on capital markets offerings; while in the firm’s associate pool, equity deal lawyer Nicolás Aspillaga and María Jesús Argandoña, who acts on bond issuances, complete the group.

Acting for issuers, underwriters and placement agents on Chilean and international capital markets deals, Morales & Besa‘s practice has notable experience in advising on Chilean sovereign bonds, IPOs and secondary offerings. The seven-member team also covers debt securities transactions involving both domestic and international markets; advises on the regulation and operational side to capital markets; and regularly acts for major private equity funds and asset managers. Significant highlights include advising Goldman Sachs & Co, Barclays Capital and JP Morgan Securities on the LATAM Airlines Group’s headline re-IPO and re-listing of its American Depositary Shares on the New York Stock Exchange; and acting for the Republic of Chile and the Ministry of Finance on issuances and global offerings of notes during 2024, including new social sovereign bonds. The team’s principal practitioners are firm founder and corporate and M&A head, Guillermo Morales, whose broad expertise encompasses securities offerings; bond placement specialist José Miguel Carvajal; and Andrea Díaz, whose track record includes major Chilean IPOs. At associate level, Bárbara Echaiz‘s practice includes capital markets, international securities transactions, M&A, and corporate advisory services; while Clemente Echenique focuses on both capital markets transactions and financial regulation.

Philippi Prietocarrizosa Ferrero DU & Uría‘s sizeable capital markets practice is routinely mandated to assist with the incorporation, registration, operation, transfer and liquidation of businesses that are active in the national and international capital markets. It also advises on M&A-related capital markets matters, as well as stock market-related agreements and the issuance, registration, placement, trading and offering of securities. Other key areas are corporate governance practices for capital markets entities, compliance, investment funds, responding to official letters, and defence-side administrative proceedings. The practice fields a number of experienced practitioners, namely: banking, finance and capital markets specialist Andrés Sanfuentes; Federico Grebe, an adviser on corporate law, M&A and private equity; and Marcela Silva, who assists with capital markets matters, alongside her banking and finance, project financing, infrastructure, insolvency and insurance practices. The team further showcases Daniel Parodi, who acts for Chilean companies and foreign underwriters on bond issuances; and Guillermo Vial, whose wide-ranging expertise also includes capital markets work. In a boost to the team, former associate practice director Constanza Rodríguez, an adviser on public offers, IPOs regulatory issues, corporate governance and bond and equity issuances, was made partner in January 2025.

Acting for institutional investors, investment banks and financial institutions, Cariola Díez Pérez-Cotapos‘ 11-strong capital markets team routinely assists with structuring high-end capital markets transactions. The full-service team advises significant issuers, including state-owned companies and public stock corporations, on the registration, issuance, offering and placement of securities in both Chile and the international markets. Its expertise extends to IPOs, note programmes, Rule 144A/Reg S matters, and private placements. The group recently advised Empresa de los Ferrocarriles del Estado on the registration of two non-secured 10-year and 30-year note programmes (each for the amount of approximately $225m). The department is co-led by Rodrigo Sepúlveda, a highly-rated adviser on the issuance of debt and capital instruments; Juan Antonio Parodi, who acts for major issuers and underwriters on local and international debt and equity capital market deals; and senior partner Francisco J Illanes, whose broad expertise encompasses capital markets, as well as banking, finance, M&A and telecoms. In the senior associate ranks, Sergio Balharry‘s experience includes bond issuances in both local and foreign markets, along with other securities-related issues.

‘Known for its in-depth knowledge of the Chilean capital markets’, Garrigues Chile's large 18-strong team consistently acts on significant bond issuances in Chile, as well as Chilean companies’ overseas issuances. Recent examples includes advising Citigroup Global Markets, Itaú BBA USA Securities and Santander US Capital Markets on the issuance of sovereign bonds by the Republic of Chile, which totalled approximately $2.2bn. It also advised BofA Securities, HSBC Securities (USA), JP Morgan Securities and Société Générale on the Republic of Chile’s issuance of €1.6bn in seven-year euro-denominated social bonds, so as to fund sustainable projects; and advised the underwriters on a $2bn offering by Chilean state-owned copper mining company Codelco, which comprised two tranches. The practice is led by ‘outstanding partner’ Pedro García, an expert in debt securities, equity, liability management, debt restructuring, derivatives and regulatory work; Antonio Morales focuses on debt restructuring and project finance; and Jaime de Larraechea is a transactional specialist with experience in capital markets, financings and M&A. At associate level, principal Daniel Hernández's practice covers debt securities, liability management deals and advising domestic and international issuers; and senior Maria Fernanda Jara assists with bond issuances and banking and financial institutions' regulation.

The 11-strong capital markets group at Guerrero Olivos is regularly sought out by stockbrokers, fund managers and corporate issuers, as well as multinational investment banks that act as underwriters. The team’s experience includes domestic and international debt offerings across Latin America, Europe and the US, including American Depositary Receipt programme registrations and Chilean companies’ convertible bonds. It is also able to leverage the firm’s specialism in M&A for structuring tenders; and the full-service practice has additional expertise in securitisation, drafting and negotiating International Swaps and Derivatives Association agreements, developing derivatives products, and investment and mutual funds. Recent highlights for the department include acting for BID Invest (the private sector investment arm of Inter-American Development Bank) on an A/B bond of up to $2.4bn. The group’s principal figures are: Jorge Delpiano, an adviser on regulatory securities matters, as well listed companies’ M&A; Miguel Coddou, an adviser to international investment banks (as underwriters), on significant energy project finance-related bond issuances; and corporate and M&A expert César Gálvez, whose practice also encompasses capital markets mandates. At senior associate level, Sebastián Marambio is experienced in international financings, while Diego Rodríguez advises on transactions involving listed companies and debt issuances.

‘One of the best options to consider in the local market for capital markets operations’, Prieto Abogados‘ team is well known for its expertise in debt placements, both in the Chilean and international markets, particularly in the US through Rule 144A/Reg.S bond placements. In domestic bond issuances, the group’s specialisms cover liability management, exchanges and inaugural issuances for emerging players; while its track record also encompasses major IPOs on the Chilean market. The practice is additionally experienced in assisting general fund administrators and investment fund-related investors, its service extending to the formation of feeder funds. Recent highlights include advising Chile-based shopping centre company Plaza on a capital increase of $300m through the issuance of 230m new shares; and acting for environmental services company Aguas Andinas on the issuance of its $110m international public bond in the Swiss market. The eight-member department is jointly led by private equity fund, insurance and debt placement specialist Patricio Prieto L; and Isabel Wolleter E, who routinely advises on high-end capital markets deals. Also key to the group, the experience of director Maite Larrañaga includes the registration and issuance of shares on the Santiago Stock Exchange’s Scalex market.

The 10-member capital markets practice at Ried Fabres covers alternative asset deals, debt securities, bond issuances, securitisations, tender offers, derivatives agreements, and equity transactions. ‘One of the best teams in the country and recognised for its expertise’, the group also comprises specialists in setting up investment and mutual funds, and  assisting foreign investment funds with their registration and approval by Chile’s regulators. The firm’s partners additionally sit as members of the boards of stockbrokers, fund managers and securitisation companies. Recent highlights for the group include advising Banco de Crédito e Inversiones on its issuance of perpetual bonds; and acting for Ameris Securitizadora on the registration of two securitised lines of bonds. The department’s principal figures are experienced capital markets law practitioner Cristián Fabres, an adviser on securitisations involving funds and special purpose vehicles; longstanding capital markets specialist José Miguel Ried, who is admitted to practice both in Chile and in New York; and  Ricardo Abogabir, who assists issuers and underwriters with bond offerings in addition to leading the firm’s derivatives work. At associate level, senior Ariadna Beroiz advises fund managers and stockbrockers on capital markets matters, including investment fund structuring; and Magdalena Varas' experience includes IPOs and bond registrations and placements.

The capital markets group in Baker McKenzie Chile‘s Santiago office assists small companies, major corporations and investment banks that are involved in finance deals involving capital markets issues. The expertise of the six-member group covers debt offerings, bond issuances, securitisations, tender offers, and fund formation structuring. It additionally routinely advises on securities laws, stock exchange listing rules, and reporting and compliance requirements. The practice is co-led by capital markets expert Fernando Castro, who also assists with M&A, corporate reorganisations, capital markets and civil and commercial law; and Jaime Munro, an adviser on securitisation programmes. The group further includes ‘excellent lawyer’ Cristóbal Larrain, whose career includes working in the firm’s New York office, and experienced senior associate José Ignacio Berner.

Bofill Mir Abogados‘ equity and debt capital markets practice is routinely mandated to advise at both domestic and international levels. The 19-strong team advises on IPOs, secondary offerings, bond and share issuances, Rule 144A/Reg S financings, securitisation, and investment fund structuring and launching. It was recently particularly active on behalf of finance, insurance, real estate, construction, and retail clients. Founding partner Octavio Bofill G and Rodrigo Saffirio both advise bondholder groups on their rights during company reorganisations, along with providing general corporate counsel on capital markets regulations. The practice further includes Ana María Yuri, who assists with the capital markets’ side to real estate and leasing deals, as well as the purchase and issuance of bonds in the infrastructure and energy industries; and director Andrea Alarcón, who advises on stock markets, investment funds, regulated entities and project finance.

With industry expertise in the investment, real estate and fintech sectors, HD Legal‘s seven-strong capital markets practice covers a wide array of deals, including corporate and securitised bonds, along with commercial papers, fund units and general securities work. The wide-ranging experience of firm founder and managing partner Sebastián Delpiano encompasses debt and equity issuances, IPOs and securities brokerages; and director Carlos Frias is a banking, financial and securities market law expert. Also at director level, Nicolás Garcia assists with the issuance of debt securities that are publicly offered in Chile, and Carolina Philipps advises on matters concerning investments by Chilean pension funds. Other key names in the associate team are Ignacio Ruiz-Tagle, who assists with securities market-related mandates; and Gabriela Rojas (currently studying for an LLM at the London School of Economics). In October 2024, corporate real estate and capital markets lawyer Valentina Palma joined the firm from Albagli Zaliasnik.

Acting for issuers, underwriters and investors, DLA Piper Chile‘s capital markets group routinely advises on stock options, IPOs, capital increases and placements. The team’s expertise also encompasses securities issuances, American Depositary Receipts and bonds. Senior counsel Diego Noguera has broad expertise in securities and capital markets; the track record of corporate and M&A practice head Matías Zegers encompasses debt and equity issuances in the Chilean and international markets; and Jorge Timmermann‘s experience includes acting for issuers on the issuance of bonds and commercial papers.

The eight-strong capital markets team at Urenda, Rencoret, Orrego y Dörr is experienced in transactions involving both the equity and debt markets. The practice’s expertise ranges from IPOs, bonds and other debt certificate issuances, to assisting with public tender offers. It also advises publicly-held corporations, brokers, and entities on their interactions with both the Securities Agency and the stock markets. The group’s key figures are Gonzalo Rencoret and Felipe Rencoret,  who are both advisers to boards on securities, capital markets and compliance issues; securities, IPO and tender offer expert Sergio Orrego; and Nicholas Mocarquer, whose workload also covers equity and debt markets. In the associate pool Isidora Zañartu advises on securities.