A destination practice for banking and finance work, Brigard Urrutia’s strong relationships with domestic and international lenders — including banks and alternative lenders — is a particular hallmark. That being said, the group also represents corporate borrowers in high-profile financings, with notable recent activity in the energy, transport and infrastructure spheres. Alongside its transactional expertise, the team stands out for its robust regulatory offering, where it routinely advises financial institutions, fintechs and others on compliance matters and proceedings before the Superintendence of Finance. Managing partner Carlos Fradique-Méndez is widely recognised as a foremost specialist in financial law, with extensive experience in lending transactions, structured finance, project finance and funds. Among his recent highlights, Fradique-Méndez paired up with prominent next-generation partner María Fernanda Diago to advise leading Colombian corporation, Ecopetrol, on the structuring and negotiation of a credit agreement of up to $1bn. In a key lender-side mandate, César Felipe Rodríguez demonstrated his unique infrastructure credentials through his advice to Financiera de Desarrollo Nacional, Bancolombia and Itaú Colombia on a COP$210bn financing to KMA Construcciones. The group additionally draws on the experience of firm senior partner Carlos Urrutia at top level, while at associate level seniors Santiago Jaramillo Martínez and Nicolás Alonso are noted for project finance and fintech respectively. In September 2023, senior associate Juan Eduardo Gómez left to join A&O Shearman in Washington DC; partner Felipe Alarcón also departed the team.

Dentons Cardenas & Cardenas’ full-spectrum banking and finance practice strikes a balance between borrower and lender-side mandates. In terms of the latter segment, it is noted for its prominent record in representing multilaterals, including International Finance Corporation, CAF (Development Bank of Latin America) and IDB (Inter-American Development Bank). Office managing partner Bernardo Cárdenas is a key contact for both the M&A, and banking and finance departments, where he enjoys close links with international banks and corporations as well as multilaterals; he recently advised CAF on providing $230m worth of credit facilities to Banco W and Banco de Bogotá to finance loans for agribusiness clients, green energy companies, and small and medium-sized enterprises. Corporate and M&A specialist Eduardo Cárdenas also has a significant banking and finance dimension to his practice and acted as local counsel to Accial Capital Management and Skandia FCP Impacto on granting a $90m synthetic warehouse credit facility to a special purpose vehicle wholly owned by Clara. The group further benefits from the project finance expertise of projects specialist Pablo Jaramillo. In August 2023, former department co-head Catalina Pinilla left to become legal director at Governance Consultants. However, up-and-coming partner Felipe Alarcón joined from Brigard Urrutia one month later; he led on a strong run of borrower-side deals over the past year, which included advising Tower One Wireless Colombia on a $17.5m structured financing provided by asset management company, Moneda. Associate Alejandro Parra provides support. Since research concluded, the practice has been boosted at senior level with the September 2024 return of Daniela Mejia Mariño, as a partner, after a stint at Philippi Prietocarrizosa Ferrero DU & Uría; her practice takes in regulatory and transactional banking, finance and capital markets work.

Gómez-Pinzón Abogados (GPA) fields one of the deepest banking benches in the market, which is reflected in its ability to resource large-scale domestic and cross-border transactions for both lenders and borrowers. The group’s comprehensive expertise spans the full range of corporate finance, asset finance, project finance and structured finance deals, while it is also frequently engaged to handle regulatory matters. Ricardo Fandiño spearheads the banking, finance and capital markets department and brings to bear over 25 years of experience in representing financial institutions, alternative lenders and major corporations in sophisticated transactions. Among his recent highlights, Fandiño acted as local counsel to the Royal Bank of Canada on a $700m financing granted to Enerflex to support the acquisition of Exterran Corporation. Sought after for both regulatory and transactional work, José Luis Suárez’s broad practice spans administrative law, infrastructure, and banking and finance; he recently advised Citibank Colombia on an uncommitted credit line to Rappi for up to $11m. The group additionally includes Daniel Londoño, who has a strong cross-border element to his practice, and capital markets expert Adriana Moreno. The group also benefits from a strong second line of senior associates, including Jimena González, who specialises in project finance and securities-related issues; Catalina Prieto, who combines strength in finance, energy and infrastructure; and Daniel Flórez, whose focus spans a mix of regulatory and transactional matters.

Philippi Prietocarrizosa Ferrero DU & Uría’s banking and finance group scores highly with sources for its ‘great knowledge of the sector’ and also for its ability to ‘propose innovative solutions’. Demonstrating strong skill sets in corporate finance, structured finance and project finance, the team is routinely engaged by domestic and international lenders and corporate borrowers to advise on local and cross-border transactions. Juan Fernando Gaviria is a key contact for banking and finance and also for projects work; in a recent showcase of his skills in both spheres, he teamed up with the projects group to advise a number of local and international senior and liquidity line lenders on the Bogotá-Girardot toll-road project financing, involving a long-term loan of approximately $578m. Hernando Padilla, who sits in the corporate and M&A group as well as the banking, finance and capital markets team, is highly regarded for funds-related issues; he recently advised Grupo Bancolombia on a joint venture with Patria Investments for the management and development of a platform of alternative assets. Other recommended names include Claudia Barrero, who maintains a broad corporate and finance practice. At associate level, former senior Daniela Mejía Mariño left the firm in September 2024, while associate Ana María Ramirez moved in house at IDB Invest earlier in the year.

Cuatrecasas houses a diverse banking and finance practice that is equipped to handle the full range of corporate lending, project finance, financial restructuring and regulatory matters. The team’s strong roster of local and multinational financial institution clients is complemented by an equally solid set of corporate borrower relationships, while its international platform marks it as a popular choice for cross-border mandates. Department head Manuel Quinche is widely recognised as a leading light for sophisticated corporate and project financings; he recently advised Transportadora de Gas Internacional on a $397m financing granted by Bancolombia and BBVA Colombia. The group further benefits from the experience of up-and-coming projects and finance specialist Ana María Sánchez, who is particularly recommended for highly structured deals; and Juan Carlos Puentes, who is an increasingly prominent name for fintech-related work, among other matters. Raised to the partnership in April 2024, Natalia Arango is also noted for her activity in energy and infrastructure project financings; and as head of the capital markets practice, she additionally brings to bear significant structured finance expertise.

Banking and finance lawyers at Garrigues strike the right note with sources for their ‘in-depth knowledge of the issues’ and ‘ability to explain complex concepts well’. Widely regarded as a leading banking regulation expert, department co-head Roberto Borrás is sought after by local and international banks, fintechs and other financial entities to advise on the incorporation of new financial institutions, banking M&A and digital payment issues, among other regulatory matters. Borrás is notably advising major neobank, Nubank, on regulatory processes connected to its incorporation and operation. On the transactional front, fellow group co-head Francisco Noguera stands out for his record in project finance; he acted in conjunction with the infrastructure team to advise Ashmore, BlackRock and Finaciera de Desarrollo Nacional (FDN), as lenders, on a $216m refinancing granted to Concesión Transversal del Sisga, as concessionaire of the 4G toll-road project, Corredor Transversal del Sisga. The team further benefits from a deep pool of associates, including Lissa Parra Alarcón, who was promoted to principal in January 2024; senior Mónica Rodríguez G, who specialises in cross-border transactions; projects-focused senior Nicolás Angulo; and intermediate María Parga.

The banking and finance practice at Martínez Quintero Mendoza González Laguado & de la Rosa added a raft of new clients during 2023/24, including fintech, Grupo R5, and construction company, Sacyr — a confident performance prior to its May 2024 demerger from the DLA Piper network. The team’s depth is evidenced by its work for a broad mix of lenders and corporate borrowers on domestic and multi-jurisdictional transactions, including corporate finance, debt restructurings, structured finance and project finance. Managing partner Camilo Martínez fronts the group and contributes deep experience in both banking and finance, and debt capital markets; he recently advised Air-E on a long-term loan of up to $45m provided by IDB Invest. Sebastián Lora is a key contact for both the banking and finance and the project finance teams; he posted strong recent showings in representing lenders in energy and infrastructure project financings. The department additionally draws on name partners Juan Manuel de la Rosa and Felipe Quintero, both of whom maintain broad transactional practices with an emphasis on private equity. Banking and finance-focused senior associate, Carlos E Guzmán, is also recommended. In August 2023, Former senior associate María José Assis moved in house at BTG Pactual Colombia in August 2023 and, since research concluded, Guzman has left to undertake his LLM.

Leveraging its prominent corporate and international offerings, Posse Herrera Ruiz primarily shines in representing corporate borrowers and foreign lenders on banking and finance work. In terms of its profile in the latter segment, the team retains good links with an array of multinational banks, alternative lenders and multilaterals. On the borrower side, the group is well versed in domestic and cross-border commercial loans, project financings, acquisition finance transactions and regulatory issues, among other matters. Seasoned firm co-founder Mariana Posse is an instantly recognisable name for banking and finance work in Colombia and co-heads the department together with talented next-generation partner Natalia Escobar. Among Escobar’s recent highlights, she acted for Aligned Data Centers, as borrower, on a $1.2bn financing to support its acquisition of ODATA. Also noted at partner level is Jesús Albarrán, who acted as Colombian counsel to Camposol Colombia on a $40m revolving credit facility granted to Camposol and Camposol Colombia. Key senior associates Catalina Posada and Medellin-based Julián Aguirre provide support. In August 2023, Juan José Huertas joined from Winston & Strawn LLP in New York; subsequently promoted to director in March 2024, he brings significant experience in cross-border transactions.

‘Very committed to moving the business forward’, the Bogotá office of global firm Baker McKenzie S.A.S. stands out for its capability in cross-border transactions, where it acts for a broad mix of domestic and international corporate borrowers, banks and alternative lenders. The group is well placed to advise on the full range of corporate finance, project finance, structured finance and funds-related transactions, while it also possesses significant regulatory expertise. Department co-head Ricardo Trejos Robledo is the most active partner in the team and is particularly noted for his close relationships with international banks and alternative lenders, including funds. Senior corporate and private equity specialist Jaime Trujillo also contributes experience in banking and finance transactions. At associate level, banking and finance-focused senior Mónica Cubillos Iregui is routinely recommended by sources. Also noted are juniors Adriana Riobó — who arrived in October 2023 from BBVA — and Victoria Luque.

The banking and finance practice at Holland & Knight is held up by sources as ‘focused on the needs of the client and on making transactions viable’. The growing group added an impressive raft of new clients during 2023/24, which included an array of banks, alternative lenders and payment companies, including Coöperatieve Rabobank, Mercado Pago and Banco de Crédito del Perú. Arguably best known for his capital markets prowess, Camilo Gantiva also handles a significant volume of transactional and regulatory banking matters; he recently acted alongside the Miami office to advise Banco Davivienda on regulatory issues regarding cross-border operations with its affiliates and US branches. The group further benefits from the considerable experience of Juliana Saa, whose broad practice encompasses corporate, banking and finance, capital markets and commercial law; and Bogotá managing partner Enrique Gómez Pinzón, who operates from the Bogotá and Washington DC offices. Intermediate associate Juan Felipe Fontecha provides additional support to the capital markets, and banking and finance teams.

Despite a more compact size relative to some of its peers, Mendoza Abogados’ exclusive focus on corporate, project and structured finance work pays dividends, with the boutique firm frequently involved in sophisticated transactions for both lenders and borrowers. The group is particularly noted for its experience in cross-border financings, with founding partner Mateo Mendoza bringing extensive international experience to his role gained during stints at major domestic and international firms. Among his recent highlights, Mendoza advised the District of Barranquilla on a $100m loan from the Inter-American Development Bank (IDB). The department also draws on talented counsel María Lucia Amador, who specialises in advising concessionaires, sponsors, and lenders on project finance transactions; senior associate Lina María Londoño, who has a significant regulatory dimension to her practice following her previous position at the Ministry of Finance; and mid-level associate Luis Tolosa. Former senior associate Christina Burn left to become legal head at Recaudo Bogotá in August 2023. However, the firm has since seen the return of María Beatriz Segura as practice director after some three years in house at Acon Investments – effective as of August 2024.

With a marked emphasis on regulatory work, Ustáriz & Abogados Estudio Jurídico stands out for its expertise in matters concerning banking responsibility, electronic fraud, fintech and International Swaps and Derivatives Association (ISDA) master agreements. Enjoying close relationships with a raft of domestic and international banks operating in Colombia, the group handles a mix of advisory, transactional and contentious matters, with a strong showing as regards representing banks in appeals against administrative sanctions. Founding partner Luis Humberto Ustáriz leverages a comprehensive 25-year-record in handling capital markets, banking and finance, and dispute resolution-related work following previous roles at both public and commercial entities, including the Superintendence of Finance. Fellow founding partner Jose Federico Ustáriz also brings to bear considerable industry experience gained during former stints as legal comptroller in financial institutions. The group includes seasoned counsels Pablo Valencia, who handles a mix of transactional and regulatory work; Calixto Anaya, who joined in April 2023 from Fiduciaria Scotiabank Colpatria; and Mario Fajardo, who arrived in November 2023 from Fiduciaria Popular. Senior counsel Andrés Pineda left in October 2023 to join Fondo Nacional de Garantías.

During 2023/24, CMS Rodríguez-Azuero’s banking and finance team was particularly active on behalf of development banks on lending matters, including Agence Française de Développement (AFD) and US International Development Finance Corporation (DFC). Well-weighted between transactional and regulatory mandates, the group also enjoys good relationships with fintechs and alternative lenders. Founding partner Sergio Rodríguez-Azuero is a key contact for both banking and dispute resolution and is noted for his regulatory focus. Daniel Rodríguez co-heads the department alongside Rodríguez-Azuero and specialises in transactional work. Senior associate María Paula Sandoval splits her time between several practices, including banking and finance, compliance and public procurement.

A regulatory stalwart, Lloreda Camacho & Co.’s banking and finance practice demonstrates a significant orientation towards advising on product development, representing financial entities before the Superintendence of Finance, and assisting with the incorporation of financial entities. Less frequently, the group also acts on financing transactions. Department head Carlos Carvajal — who additionally leads the government contracting, infrastructure and real estate practices — is equipped to handle both regulatory and transactional matters. Corporate and M&A head Santiago Gutiérrez is another important resource due to his experience working in-house at several financial institutions, including Banco Extebandes. Five-year associate Santiago Garzón is recommended for his focus on fintech.

Capital markets and financial law boutique Muñoz Aya Legal acts for an expanding roster of domestic and international financial institutions, investment funds and fintechs — among others — on banking and finance matters. With extensive experience in both transactional and regulatory issues, the team is particularly recognised for its record on behalf of lenders and financial borrowers. Managing partner Edgar Muñoz fronts the practice and advised ExcelCredit on a COP$40m loan granted by Credicorp Capital Deuda Privada I. The group also includes associates Daniel Molano (senior) and Nicolás Pérez (intermediate). In November 2023, next-generation partner Lina Lineros joined the Superintendence of Finance, while associate Alejandra Restrepo left for Nestlé in March 2023.

Muñoz Tamayo & Asociados’ firm-wide interdisciplinary approach is reflected in its broad coverage of banking and finance matters, with its recent highlights encompassing a diverse mix of corporate lending, restructuring transactions and regulatory work, including dispute resolution. Felipe Trías is a former legal director at Banco de Colombia and co-heads the department together with founding partner Diego Muñoz Tamayo, whose comprehensive practice focus spans corporate, finance, projects and public law issues, among others. At associate level, senior Daniel Cardona-Aranda specialises in banking and finance, M&A and sports law, while junior corporate lawyer Melanie Gómez also provides support.

Demonstrating ‘deep knowledge of aircraft leasing and finance’, Parra Rodríguez Abogados is widely acknowledged as a market leader for aviation finance. The highly specialised team acts for a raft of domestic and international lenders (including specialty finance companies), airlines and leasing companies, with Nordic Aviation Capital and ALAFCO among its representative clients. Bernardo Rodríguez Ossa is a go-to expert in his field and recently advised a major global aircraft leasing company on the repossession of five aircraft. The four-lawyer group also includes Augusto Figueroa Sierra, who handles a mix of commercial and public law matters; and César Barajas Ruiz, who is associate director of the banking and finance practice.

From its platforms in Bogotá and Cali, Advocat’s banking and finance team handles a mix of regulatory and transactional work. The group is distinguished by its experience in fintech and private lending matters, where it has a significant record in advising emerging players on incorporation and compliance issues. Department head Nicolás Fernández De Soto acts for both borrowers and lenders, with a focus on the fintech sphere. Associate Mariana Salvatierra left to join Porvenir Pensiones y Cesantías in October 2023.

Durán & Osorio Abogados Asociados impresses sources with ‘the ease in which it not only solves issues but makes them understandable for any audience’. The firm’s banking and finance offering is closely aligned with its signature projects and public law practices, ensuring a focus on project finance. With experience in representing the full range of industry participants, the team's recent work demonstrates activity on behalf of public sector entities, concessionaires and lenders, including development banks. Álvaro Gasca specialises in infrastructure projects and spearheads a team that also includes high-profile projects and public law expert Gabriel Taboada and talented senior associate Sebastián Duque.