International law firm Garrigues was founded in 1941 in Spain. Since then, it has expanded to 34 offices across 13 countries. In Peru, the firm is located in Lima and is known for its outstanding work in financial practice areas.  

Focusses / specialisms   

Garrigues’ Peruvian arm has top tier banking and finance and capital market practices. It also has highly regarded M&A and project development practices.  

In banking, the firm acts for lenders and borrowers in project finance, acquisition finance, refinance and corporate finance matters.   

The capital markets practice works on both the debt and equity side, representing issuers, underwriters and initial purchasers. In debt capital markets, the firm works on investment grade, high yield, municipal, sovereign and green bond issuances. The equity capital markets practice has experience with IPOs and tender offers.  

The M&A team works with buyers and sellers in strategic, private equity assets and company acquisitions, divestments and mergers. It also advises firms in strategic investments.   

In project development, the team acts for concessionaires, developers and financial sponsors in all steps of project development, from financing to construction. It works on PPP and private projects in the energy, social infrastructure, port, transportation and oil and gas industries.   

Key clients   

Key clients for the firm include Credicorp, Scotiabank, Banco de Crédito del Perú, Citigroup, BBVA, Bank of America, Intercorp Financial Services, SK Innovation, Arval Relsa, Corporación Andina de Fomento, Torres Unidas, Alupar Inversiones, Consorcio Trecca, Auna Group and Santander.  

Research period review: 33rd edition (2022/2023)   

During the research period, the firm was active in banking, capital markets, M&A and projects. 

The banking team advised more lenders than borrowers on cross-border financing transactions in the financial services, oil and gas, agriculture and natural resources sectors.  

In capital markets, the firm was active on the debt side, advising fintech companies in landmark cross-border securitizations. The firm was also involved in debt issuances for project financing in the transport industry.  

In M&A, the firm led cross-border merger transactions as well as acquisitions in the fintech and technology sectors. It also advised investors in shareholder agreements and worked with startup companies.  

The projects team was active in development and finance, advising on PPPs in energy, transport and particularly in the healthcare industry. The financing department worked with development banks and other financial institutions on the expansion of existing projects in the transport sector among others. 

Deal highlights: 33rd edition (2022/2023)   

Alicorp $220 million financing 

Anillo Vial Periférico PPP  

Enerflex/Exterran Corporation $735 million merger 

Engie Energía Perú $300 million financing 

Luz del Sur $500 million bond issuance  

Client feedback: 33rd edition (2022/2023)    

Project finance  

“In general, good involvement of senior partners and specialization in project finance deals.”