Cleary Gottlieb Steen & Hamilton has the benchmark capital markets practice in Latin America. With a significant market share of major deals in Mexico and Brazil, it has the Latin America reputation and unrivalled connections to target any jurisdiction that has an upsurge in deals. This includes Argentina, where the firm has gained a number of recent engagements. The firm has retained a large percentage of the headline initial public offerings (IPOs) that originated from Latin America in 2024. Its Sao Paulo office has developed strong connections to several international banks, which have now led to a series of engagements in the wider Latin America region. The Latin America team is also working closely with Spanish-headquartered banks in debt capital markets (DCM) transactions. It remains a market leader in sovereign and state-owned enterprise (SOE) offerings, liability management exercises and SEC reporting for Latin American issuers. Jorge Juantorena stands out for his record in the Mexican market and in the sovereign-offering segment. Sao Paulo-based Juan Giráldez has an extensive record in Brazil deals along with Argentina, where he is noted for government and public sector transactions. Manuel Silva is another prominent talent, noted for his experience in the Mexico, Brazil and sovereign markets. Jonathan Mendes de Oliveira covers both Brazil and wider regional deals. Senior counsel Nicolas Grabar is a fountain of Latin America capital markets knowledge, while Ignacio Lagos – who was promoted to the partnership in October 2025 – is another key team member. Adam Brenneman left the firm in May 2025. Named individuals are based in New York unless stated otherwise.

Davis Polk & Wardwell LLP is a global force in capital markets and this remains particularly evident in Latin America where it represents a multitude of issuers and underwriters in offerings across the region; it has especially strong connections to Latin American issuers. The firm has committed considerable senior expertise to its Sao Paulo office and concurrently maintains a substantial Latin America-focused team in New York. Every year, it consistently wins a significant market share of Latin America equity and debt offerings. Brazil and Mexico have traditionally been its primary markets, though it has extensive geographic coverage. Splitting his time between New York and Sao Paulo, Manuel Garciadiaz heads the Latin America practice and is widely acclaimed as a leading name in capital markets offerings, including IPOs, high-yield debt, exchange offers and liability management. Also Sao Paulo and New York-based, Maurice Blanco is co-head of the global capital markets practice and another outstanding practitioner in Latin America offerings, both for issuers and underwriters. Pedro Bermeo is an emerging talent, now frequently leading many of the team’s key deals. Hillary Coleman is also making an impression. All named individuals are based in New York unless stated otherwise.

Simpson Thacher & Bartlett LLP remains a dominant force in Latin America capital markets transactions. Despite a slowdown in deal flow across the market, the firm has landed a series of major equity and debt offerings. With outstanding practitioners in both New York and Sao Paulo, the Latin America team continues to be noted for SEC-registered IPOs and US listings, along with sovereign and SEC-registered investment grade offerings, and high-yield debt transactions. It has a significant market share of equity and debt offerings in both Brazil and Mexico, along with other key markets such as Chile and Argentina. It represents both issuers and underwriters. Todd Crider heads the Latin America group, splitting his time between New York and Sao Paulo, and frequently works on landmark and headline transactions. Grenfel Calheiros heads the Sao Paulo office and is a leader in Brazil offerings. Juan Francisco Méndez is another seasoned member of the Latin America team with a superb record in capital markets offerings. Juan Naveira provides further senior level expertise along with senior counsel Kirsten Davis. Sao Paulo-based Paulo Fernando de Menezes continues to make an impression. All named individuals are based in New York unless stated otherwise.

White & Case LLP has the history, senior expertise and team heft to remain at the forefront of Latin America capital markets transactions. It has excellent practitioners across its ranks, with high-quality teams in Sao Paulo and New York especially. Operating across the debt and equity spheres, it has close connections to Latin American issuers and international underwriters. It continues to work on landmark deals such as the Republic of El Salvador’s headline $1bn debt-for-nature swap, involving the issuance of a $1bn 20-year impact bond and the concurrent tender offer of a portion of existing notes. The team also advised Aeroméxico on its on-going SEC-registered IPO process. Donald Baker, based in Sao Paulo since 1997, has an outstanding reputation in the Brazil market, having worked on a multitude of marquee deals in the jurisdiction; he continues to maintain extensive connections to Brazilian corporates and financial institutions. Global co-practice head John Vetterli has maintained a major focus on Latin America, having spent much of his career advising on offerings from the region. John Guzman is another leading name in Sao Paulo, leading many of the firm’s top deals in Brazil and throughout Latin America. Rafael Roberti and Miami-based Karen Katri are also emerging talents, along with Sao Paulo associate Beatriz Barros. Named individuals are based in New York unless stated otherwise.

A&O Shearman, the result of the headline merger between Allen & Overy and Shearman & Sterling in 2024, has a well-established Latin America capital markets practice, principally from the legacy Shearman team. The Latin America group has an excellent record in debt offerings across the region, including Brazil, Chile, Mexico, Peru, Panama, Argentina, Uruguay, Guatemala and Colombia. It remains at the forefront of representing underwriters in sovereign bond offerings for multiple Latin American states. It is also noted for ESG-related deals, including sustainability-linked debt offerings, blue bonds and debt-for-nature swaps. Alejandro Gordano has made a significant impression in the market, advising major clients such as Ecopetrol on headline offerings; he has also emerged as a leading name in sustainability-linked bonds, including advising on the first international sustainability-linked bond out of Peru. Manuel Orillac is another senior name in the team. All named individuals are based in New York. David Flechner left the firm in July 2024 and of counsel Antonia Stolper retired in 2025.

Baker McKenzie LLP has continued its fast evolution following the headline hire of leading light Michael Fitzgerald and a large team in 2023. Fitzgerald and his New York-based group have substantially augmented the practice by targeting clients of the firm's offices across Latin America. While Mexico remains its prime market, the capital markets group has seen further growth in Brazil, along with Peru, Chile, Colombia and Argentina. In Mexico, the New York team has dominated the market for decades, most notably in the real estate and logistics sectors, including in the Fibra (real estate investment trust) segment. The team advised on the two Mexico IPOs that were executed in 2024, including Fibra Monterrey's $500m offering, and has made a further mark on deals connected to the nearshoring movement in the jurisdiction. It is also noted for sustainability-linked offerings and de-SPAC transactions. Aside from the outstanding Fitzgerald, Arturo Carrillo is another prominent partner in Latin America capital markets offerings, along with Joy Gallup, who is noted for sustainability-linked and green bond offerings. Steven Sandretto has an impressive record in Brazil transactions, while Pedro Reyes is also having an impact on the market. All named individuals are based in New York.

Clifford Chance has a formidable senior bench, spread across its New York and Sao Paulo offices. It continues to advise on a raft of deals spread across Latin America, including Argentina, Brazil, Chile, Colombia, Costa Rica, El Salvador, Mexico, Peru, and other jurisdictions. Its client base ranges from corporate issuers, investors and commercial lenders, to development finance institutions (DFIs) and governments. Jonathan Zonis is the former co-leader of the Latin America group and the Americas capital markets practice; he has an excellent record in sovereign issuances and continues to have a significant focus on Latin America. Hugo Triaca is another established name in high-yield and investment grade debt offerings, equity offerings, and both hybrid securities and liability management transactions. Sao Paulo’s Patrick Jackson covers capital markets, bank lending and liability management transactions; while Mariana Estévez is noted for energy and infrastructure transactions, including project bonds, and hybrid and multi-source financings. Sao Paulo-based counsel Anja Pfleger Andrade is another key member of the team. Named individuals are based in New York unless stated otherwise.

Latham & Watkins LLP has brought its world-leading capital markets reputation to the Latin American market. The Latin America team has a close association with energy and infrastructure deals, SEC-registered offerings and public company and corporate governance matters. It has worked on a series of headline deals, including landmark project bonds, securitisation transactions to fund marquee infrastructure projects, major hybrid capital transactions, high-value social bonds and significant IPOs. CAF – Banco de Desarrollo de América Latina continues to provide a steady pipeline of deals, including transactions under its medium term note (MTN) programme. Chicago partner and Mexico City native Roderick Branch is a capital market specialist with a major focus on Latin America, especially multiple deals for CAF. New York-based Guido Liniado, a native of Argentina, has a background in project bonds, securitisation, private placements and multi-source financings, with an extensive record in energy and infrastructure across Latin America. Also in New York, John Slater, another native Spanish speaker, is a key member of the team. Gianluca Bacchiocchi left the firm in March 2025.

Milbank's longstanding commitment to Latin America has provided a platform for a thriving capital markets practice. Much of the practice centres on energy and infrastructure-related transactions, a case in point being its advice to Saavi Energía on its inaugural $1.1bn bond offering. The Latin America team has extensive geographic coverage, from Mexico through to Colombia, Peru and Argentina. The firm has an established record in high yield, investment-grade, project bonds, corporate bonds and liability management transactions, along with IPOs and other equity offerings. The Latin America team is primarily known for its advice to initial purchasers and underwriters in large and complex deals, though it does also represent issuers on a regular basis. Marcelo Mottesi is chair of the corporate finance and securities group, and is co-head of the Latin America team, having focused on the region for many years. Carlos Albarracin is another prominent partner with an exceptional background in finance and capital markets deals throughout Latin America. Special counsels Andres Osornio Ocaranza and Gonzalo Guitart are additional Latin America specialists, along with Sao Paulo partners Tobias Stirnberg and Fabiana Sakai. Leading name Adam Brenneman significantly reinforced the team in May 2025, when he joined from Cleary Gottlieb Steen & Hamilton. Named individuals are based in New York unless stated otherwise.

Paul Hastings LLP has continued to cement its position in the market, following a series of lateral hires and partner promotions. The Latin America team has built a steady pipeline of significant bond offering engagements, including investment grade and high-yield debt issuances. It has made a further impression in liability management and sustainability-linked bonds. The team has a particularly strong record in Mexico, Brazil, Peru, Colombia, Chile and the Dominican Republic, and has developed an impressive mix of issuer and underwriter clients, including several sovereign states. Grissel Mercado has become a major force in the market and has a prolific record in Chile, Peru, Colombia and in ESG and sustainability-linked bonds. Alex Herman is another emerging talent, who led the team that advised the joint bookrunners on Orygen’s issuance of $1.2bn investment grade 5.746% senior notes (due 2034), the largest-ever corporate bond issuance out of Peru. Of counsel Maria Larsen has a major focus in Latin America capital markets offerings and is a key team member on many of its deals. All named individuals are based in New York.

Skadden, Arps, Slate, Meagher & Flom LLP is building momentum in the market thanks to the efforts of prominent banking and capital markets lawyer Alejandro González Lazzeri, who co-heads the Latin America group from New York. He and the team have extensive geographic experience, including Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Peru and Mexico - the last of these being a particular forte for the group. The team has an especially strong record in debt offerings, including investment grade and high yield matters, with deals often valued at in excess of $1bn. It represents a multitude of issuers and underwriters. The firm has a longstanding presence in Sao Paulo from where Filipe Areno continues to advise on numerous debt offerings in Brazil and other Latin American markets.

Arnold & Porter remains a market leader in sovereign offerings. It has a long history in the field and has represented a multitude of sovereign states over the years, including many in Latin America. It has close connections to ministries of finance and central banks, along with state-owned companies and municipalities. In 2024, it advised Brazil, Colombia, El Salvador, Honduras, and Panama on sovereign finance deals totalling some $33bn. Among numerous headline deals, it represented the Federative Republic of Brazil on its $2bn inaugural sustainable bond; and advised the Republic of Panama and its Ministry of Economy and Finance on the financing of the construction of the fourth bridge over the Panama Canal, involving the issuance of a $119m offering of Series 2024-1 senior secured notes (due 2026) by an SPV (Panama Infrastructure Receivable Purchaser PLC). The firm has also made a further impression in social bonds. Gregory Harrington has an outstanding record in sovereign finance with a particular focus on Brazil, Colombia and Peru. Whitney Debevoise is equally highly-rated in sovereign offerings, particularly those originating in Brazil, Panama, El Salvador and Honduras. Panama native Raul Herrera, and counsels Arturo Caraballo and Carlos Pelaez are also key figures in the team. All named individuals are based in Washington DC.

Hogan Lovells US LLP remains best known for future-flow transactions, project bonds and operating asset securitisations. The firm has extensive geographic coverage across multiple Latin America jurisdictions and is a recognised leader in structured finance transactions. The Latin America team advises a range of Latin American banks, international banks and multilateral agency lenders. Emil Arca  is a member of the Latin America steering group and the global capital markets leadership team, and continues to be at the forefront of financial future-flow securitisations and diversified payments rights (DPRs) securitisation programmes in the region. Ben Garcia is further noted for sustainability-linked bonds and sovereign bond issuances, along with investment grade and high-yield debt offerings; he led the team that advised the Republic of Ecuador on its debt-for-nature swap to advance the Republic’s Amazon Bio-corridor programme. Jonathan Lewis and Isabel Costa Carvalho are key figures in Sao Paulo. Named individuals are based in New York unless stated otherwise.

Holland & Knight LLP has deep experience in Latin America capital markets transactions, particularly in Mexico, Central America and Argentina. The US-based capital markets team works closely with colleagues in Mexico City, notably in the real estate investment trust segment, where the firm represents Fibra Uno and others. The Latin America team has a history in Argentina, where it has represented a number of provinces in their capital raising exercises, and is now active in liability management transactions. Sustainability-linked bonds is another area of particular expertise, while the firm has also demonstrated its capabilities in the structured finance and securitisation field, including diversified payments rights transactions. The Latin America team has a mix of issuer and underwriter-side engagements. Based in New York, Stephen Double is an experienced Latin America expert, originally a capital markets specialist who now has a balanced practice of bank lending and capital markets work. New York associate Maria De Bedout is another key member of the team. Washington DC-based partner Tadeo Martinez joined the firm from Inter-American Development Bank in 2024, as did experienced associate Juan Mata, from Linklaters LLP, in January 2025.

Winston & Strawn LLP has extensive experience in the Latin America capital markets field, with strong teams in New York and Sao Paulo, complemented by a large group in Miami as well as Houston. It has an established record in capital markets transactions originating in Chile, Mexico, Colombia and Argentina, along with a growing presence in Brazil. It is noted for debt offerings, securitisations and sustainability-linked bonds. The Latin America team represented Nueva Elektra del Milenio in a future flows transaction involving remittances from the US to Mexico. Head of the Latin America team Talbert Navia, Sey-Hyo Lee and Claude Serfilippi are a formidable group in New York with an extensive focus on Latin America capital markets transactions. Rodrigo Carvalho provides additional capital markets and corporate transactional expertise in Sao Paulo.

Gibson, Dunn & Crutcher LLP has continued to build out its presence in Latin America transactions. It remains particularly known for infrastructure-related transactions, though also has a broad range of experience in IPOs, high-yield and investment grade debt offerings and private placements. Tomer Pinkusiewicz is co-chair of the projects and infrastructure practice group, chair of the Latin America group, and has a background in project and infrastructure bonds. Boris Dolgonos is a capital markets specialist with a history of Latin America deals. Both are based in New York.