Linklaters‘ ‘incomparable’ team draws considerable praise for its ‘excellent technical knowledge’ in complex debt and equity transactions, acting both for domestic and international clients. The firm is sought out by some of the world’s leading companies, thanks to its expertise in providing assistance on derivatives and structured finance mandates, as well as issues pertaining to public takeovers, private and public offers of securities, and regulatory filings. Co-head António Soares holds an excellent market reputation for his proficiency in equity and debt deals, financial regulatory issues and privatisations. Vera Ferreira de Lima, who oversees the firm’s financial regulation group,  handles the gamut of capital markets transactions, having participated in the structuring of various public and private securities offerings. Associate Válter Gouveia is highlighted for his ‘creativity and pragmatism in searching for the best solutions for the client’.

Well-regarded for its ability to marry a ‘deep understanding of the dynamics of the financial market’ with a ‘multidisciplinary approach’, the capital markets team at Morais Leitão, Galvão Teles, Soares da Silva & Associados is the trusted adviser to Portuguese listed companies, investment banks and issuers. The team consistently handles complex and innovative capital market transactions, boasting an impressive track record in dealing with debt, hybrid instruments and other securities. The practice is jointly led by Tomás Vaz Pinto and Eduardo Paulino: Pinto is noted for his expertise in M&A matters, and specialises in privatisation cases, while ECM and DCM expert Paulino is lauded for his ‘proactivity and innovation in approaching the questions asked by clients’. Also part of the core capital markets team, Ricardo Andrade Amaro heads up the firm's M&A practice and is recommended for his experience in IPOs. Maria Soares Do Lago  is a name to note for debt and hybrid issuances, securitisations and derivatives.

Highlighted for its ability to provide a ‘high quality service’, the ‘experienced and specialised’ capital markets team at PLMJ is well versed in the full spectrum of transactional and corporate governance matters. Counting Portuguese banks, international financial institutions and listed companies among its key roster of clients, the practice enjoys a strong market reputation for its work on IPOs, rights issues and takeovers, debt issues and securitisations. With an impressive track record in complex ECM and DCM transactions on the primary and secondary markets, practice head André Figueiredo regularly acts on big-ticket capital markets deals. Bruno Ferreira is skilled at assisting companies and financial institutions with large-cap deals and complex regulatory matters, while the ‘technically impeccable’ Raquel Azevedo focuses on corporate governance issues concerning listed companies. Gonçalo dos Reis Martins is another key name to note, recommended for his involvement in the an array of capital markets transactions at the national and cross-border levels.

The team at VdA, noted for its ‘cordiality, competence and availability’, enjoys an excellent market reputation for its involvement in consequential capital market transactions, including the national and international placement of both debt and equity. Covering the entire scope of capital markets matters, the practice effectively taps into the firm’s banking and finance expertise to provide comprehensive guidance to a diverse client base, composed of financial institutions and corporations across various sectors. At the helm sits Pedro Cassiano Santos, who is actively engaged in the structuring of several transactions involving debt, equity and hybrid instruments; he also boasts in-depth knowledge of securitisations and structured finance. With a strong track record in both domestic and cross-border deals,  Hugo Moredo Santos advises on public offerings and private placements of equity, debt and hybrid securities, covered bonds and asset-backed transactions. Clients across financial and non-financial sectors seek Orlando Vogler Guiné's expertise in a variety of capital markets mandates, including derivatives and securities issues.

Variously praised as ‘experienced, pragmatic and knowledgable’, the capital markets team at Cuatrecasas is well positioned to advise clients on a range of matters, including debt and equity transactions, derivatives, structured finance and securitisations. Counting issuers, banks, institutional shareholders, securitisation vehicles, funds and investors among its roster of clients, the practice excels in cross-border mandates – made possible by seamless collaboration with the firm’s other offices across Europe. The team is jointly led by Paulo Costa Martins and Manuel Requicha Ferreira. Martins, lauded for his ‘rigour and extensive experience’, regularly advises banks and investment firms on public offers, private placements, takeovers, and fund formation, while Ferreira is recommended for his ability to handle structured finance and securitisations. Margarida Leal De Oliveira is a strong performer in DCM deals.

Uría Menéndez‘s capital market practice is routinely instructed by listed companies, financial institutions and international investors in the Ibero-American market in a host of transactional mandates. The practice is highly regarded for its strong regulatory capabilities and relationships with regulators, most notably the Portuguese Securities Markets Commission (CMVM). Steering the practice is Carlos Costa Andrade, who covers a range of capital markets transactions from takeovers and IPOs, to structured bonds and other complex securities. A litany of public listed companies turn to Miguel Stokes for his experience in privatisations, structured finance, debt and equity offerings.

Garrigues Portugal is home to a capable capital markets group that possesses wide-ranging capabilities to advise on big-ticket capital markets transactions and regulatory matters for clients spanning the telecoms, postal services, media and technology sectors. Under leadership of Marta Graça Rodrigues, the team regularly acts for some of the largest listed companies in Portugal. With over two decades' experience in the market, Rodrigues brings together expertise in M&A, corporate governance and securities law. Former co-head Diogo Leónidas Rocha left the firm in November 2023.

Well versed in a wide range of capital markets mandates, the ‘very professional, accessible, friendly and diligent’ team at Sérvulo & Associados is increasingly engaged in high-end transactional mandates, especially equity deals. The practice boasts a strong financial services regulatory offering, standing out for its expertise in fintech-related matters. Noted for his 'high technical knowledge', Paulo Câmara is singled out for his proficiency in regulatory matters. He jointly heads up the team with Manuel Magalhães, who boasts wide-ranging experience in banking, insurance, real estate, restructuring and insolvency work. Verónica Fernández is a reference for investment fund managers and financial intermediaries seeking assistance with the structuring of securities issuing programmes and placing of debt instruments.

Retained by a multitude of international financial institutions, banks and issuers, the team at SRS Legal is well placed to advise on securitisation transactions, bond issuances and fund-related matters. The team is led by Alexandra Valente, a key port of call for Portuguese and international financial institutions and private equity funds. A name to note for derivatives products, Gustavo Ordonhas Oliveira has over two decades' experience advising clients on domestic and cross-border matters, including structured finance deals and financial services regulatory issues. João Santos Carvalho is also recommended for his expertise in capital markets transactions and regulatory matters.

Investment banks, real estate investment funds, venture capitalists, credit management clients and regulatory bodies frequently turn to Abreu Advogados for its ‘strong finance skills’. The practice adeptly assists clients with securitisation transactions, debt issuances, fund-related matters, OTC derivatives and regulatory issues. The 'responsive' Rodrigo Formigal and Diogo Pereira Duarte, the latter of whom is noted for his financial services regulatory expertise, jointly lead the practice. André Modesto Pinheiro offers support in capital increases and public tender offers.

Covering both domestic and cross-border matters, CMS showcases particular strength in debt capital markets transactions, most notably sustainable bond issuances. A diverse client roster, comprised of asset managers, financial institutions and large issuers, regularly turn to the team for advice on large-cap deals and sophisticated regulatory issues. Practice head Francisco Xavier de Almeida, who brings together expertise in M&A, banking and finance, and capital markets, is active in bond issuances, public offerings, credit securitisation and structured products.

The ‘very responsive and thorough’ capital markets team at Gómez-Acebo & Pombo is routinely instructed by issuers and banks on a range of transactional mandates. Typical engagements for the team include advising on the placement of debt and equity instruments, and filings before the CMVM. Co-head Mafalda Barreto is regularly involved in major banking and M&A deal. Of counsel Filipe Santos Barata is the name to note for complex insurance matters. Former co-head Miguel Castro Pereira is no longer at the firm.

Under the leadership of founding partner António de Macedo Vitorino, the ‘very helpful’ team at MACEDO VITORINO is well versed in a range of capital markets matters, including debt transactions, derivatives and securitisations. Fellow co-head André Vasques Dias is regularly engaged by domestic and international banks and companies seeking assistance with financing, capital markets, M&A and tax matters.