As economic activity rebounded in Chile and Peru over the past year, Garrigues emerged as one of the most influential legal advisors in both markets, deploying its integrated, one-stop-shop model to capture a surge in capital markets, energy and infrastructure transactions.
With one of the strongest regional platforms among international law firms in Latin America, Garrigues delivered an outsized performance in the twelve months to October 2025, advising on sovereign financings, complex cross-border structures and market-shaping deals linked to the energy transition. With dominant roles across landmark transactions, Garrigues distinguished itself as one of the most consistently impactful legal advisors in the two Andean markets, earning the dual accolades of Law Firm of the Year in both Chile and Peru.
“Chile showed a progressive recovery in economic activity and greater stability for making investment decision, which translated into an increase in relevant M&A operation and project finance,” says Luis Felipe Merino, managing partner in Chile.
Garrigues’ Chile office counts nearly 80 lawyers, including 13 partners, and worked on transactions topping $11 billion over the past year. The firm was central to some of the country’s most significant capital markets operations, including the Republic of Chile’s $3.6 billion dual-currency bond and its €2.95 billion Eurobond issuance and exchange offer. It also advised on Codelco’s $1.5 billion dual-tranche notes, reinforcing its role in sovereign and quasi-sovereign financing.
Chile’s position as the world’s largest copper producer and a leading lithium supplier has made it a focal point of the energy transition. Garrigues’ mandates spanned renewable generation, battery energy storage systems and data-center power infrastructure. The firm also advised on sustainability-linked and green bond issuances for corporates such as Enaex and Royal Rentals, and on complex cross-border financings for energy and digital infrastructure platforms.
In parallel, Garrigues strengthened its standing in Chile’s project and acquisition finance market, acting on multi-billion-dollar portfolio financings for AES Andes and Grenergy and on cross-border structures for data-center developer Aligned Data Centers and its ODATA platform, requiring coordination across multiple jurisdictions.
Peru delivered a similarly strong year for Garrigues, with a sharp increase in international transactions tied to energy, infrastructure and strategic sectors.
“The past year was characterized by recuperation, especially in strategic sectors. We saw an increase in operations with international components that reflects the market’s increasing sophistication,” says Oscar Arrús, managing partner in Peru.
Garrigues’ Peru office, with nearly 60 lawyers and 10 partners, advised on deals exceeding $11 billion. Energy dominated the firm’s headline work, including Niagara Energy’s $1.2 billion bond and $250 million credit facility, Kallpa Generación’s $700 million ten-year notes, Orazul Energy’s $380 million issuance and Hunt Oil’s $630 million bond offering.
The firm also played a central role in development and infrastructure finance, advising on Cálidda’s $500 million A/B loan with CAF and COFIDE’s $400 million thematic bond. In corporate finance, it advised on Alicorp’s PEN 1.5 billion issuance, Grupo Breca’s $350 million real estate financing and Pesquera Diamante’s $190 million multi-loan package.
Beyond energy, Garrigues’ Peru practice remained active in agriculture, fisheries and mining, supporting deal flow across export-oriented industries. The firm also advised the Peruvian sovereign on a PEN 10 billion local bond transaction, reinforcing its role in public-sector finance.
While Peru heads into a 2026 election cycle, Arrús expects momentum to continue in M&A and financing for infrastructure and renewable energy projects. “The combination of local advice and regional integration allows Garrigues to accompany its clients, both in the private and public sector, in high-impact, complex deals,” he says.
In Chile, Merino likewise anticipates stronger volumes as political uncertainty fades. “Garrigues will continue advising its clients in Chile from a local, regional and international vision,” he says.
Across both countries, a defining feature of Garrigues’ performance has been its leadership in sustainable and innovative finance. The firm advised on Chile’s first sustainability-linked corporate bonds, structured green and climate bond frameworks aligned with ICMA principles, and supported complex project bond and securitization structures that are setting new market benchmarks.
Its ability to bridge local regulatory expertise with international capital markets standards has made Garrigues a trusted advisor to sovereigns, state-owned companies, global banks and multilateral institutions, ensuring seamless execution across jurisdictions.