Well-established firm which frequently advises state-owned institutions and banks. Offers experience across the full scope of capital markets with a focus on debt, public offerings and hybrids and other securities. Regularly advises on mandates with a cross-border element in Angola, Mozambique and other lusophone African countries.
"By far the best lawyers in Portugal for capital markets. They present the most innovative solutions and have the best capacity to adapt to new and challenging operations."
Morais Leitão, Galvão Teles, Soares da Silva & Associados has traditionally had a strong focus on debt matters, but has bolstered its equity practice through its involvement in privatisations. Luísa Soares da Silva advised Caixa – Banco de Investimento and Bank of America Merrill Lynch, as the joint global co-ordinators, on the second phase of the reprivatisation of Redes Energéticas Nacionais (REN). Carlos Osório de Castro and Luísa Soares da Silva are recommended.
The firm was very active on the debt capital markets side and in some representative deals it advised Banco Santander Totta on the issue of €1 billion 1.5% covered bonds due 2017 within its covered bonds programme, Brisa Concessao Rodoviaria on its €350 million issue of 3.875% fixed rate notes under its EMTN programme and Energías de Portugal (EDP) on its €200 million floating rate instruments due December 2014. One notable mandate saw the firm advise JPMorgan Securities and other dealers in the structuring and implementation of Galp Energia €5 billion EMTN programme.