We support issuers, investors and financial intermediaries seeking tailored, effective, sophisticated advice on capital-raising transactions in the market.
Our lawyers have extensive experience in advising on initial public offerings (including in the context of privatisations), takeovers, capital increases, secondary market offerings, hybrid and convertible security issuances and international offerings.
We have played a role in the main public offers for subscription and sale in Portugal, advising issuers from different sectors. We have also handled the most important takeover bids that have taken place in the Portuguese market, advising bidders, target companies and major shareholders. Our team has in-depth expertise in the area of shareholder rights, particularly in public offerings, where we provide strategic advice based on our extensive experience in these matters.
Investors are increasingly placing sustainability objectives at the centre of their investment policy and matrix. The traditional focus on value creation is increasingly accompanied by the search for solutions that have a positive impact on the planet and on society.
There is now growing pressure on listed companies to consider a set of interests that go beyond the maximisation of shareholder profit and are framed at environmental, social and governance (ESG) level.
On the one hand, this new situation creates a set of additional risks of a complex nature that may result in substantial negative impacts. On the other hand, it presents an opportunity to differentiate ourselves from our competitors through leadership in the various ESG areas.
Working in close cooperation with the Responsible Business practice, our team has the expertise to be the ideal partner to navigate a landscape of increasing pressure from investors, consumers, employees, and government bodies themselves to meet the challenges faced at this level.
We assist our clients with:
Compliance is high on the agenda of organisations globally and has become a key factor in operational and reputational risk management.
We help our clients navigate legislation and best market practices, taking into account the characteristics of the organisation and their sector. We also support them with appropriate responses at each stage of the life of the business, whether in the context of incorporation, a merger, or a joint venture.
Based on our extensive experience in the investment fund industry, regardless of the nature of the assets under management, we advise different players, investors, financial institutions, traditional or alternative management bodies, banks, and insurance companies.
We support our clients from the moment of conception, through the incorporation and authorisation processes with the regulators, both for investment funds and management entities. We also handle marketing and restructuring matters. In doing this work, we take into account growing environmental, social and governance (ESG) concerns, and we advise on the establishment of collective investment undertakings with investment policies that include ESG criteria.
We contribute with our know-how in regulatory (including EMIR or AIFMD) and compliance issues, and in M&A transactions associated with management entities or assets held by investment funds. Furthermore, we also advise on contractual matters, in particular, those relating to management, deposit or placement.
Responding to the most recent innovations and trends in this industry, we are pioneers in establishing, developing, and following up with social entrepreneurship bodies, from both a regulatory and transactional perspective.
Today's regulatory environment is extremely stringent for listed companies. Our knowledge of capital markets regulatory issues is what sets this team apart.
We advise the leading Portuguese listed companies on corporate governance matters, derivatives and compliance involving issues of transparency, disclosure of information and market abuse.
We regularly advise issuers and financial intermediaries on structured and high-yield issuances. Our team scrupulously follows market developments, and the diversification and increasing sophistication of financing structures. It has acted in a wide range of transactions in this area, including liability management operations, exchange offers and high-yield bond issues. We assist our clients closely in all phases of each transaction, from structuring to implementation.
Our vast experience in securitisation transactions includes advising arrangers and lead managers, but also originators, issuers, joint representatives, and financial institutions in a variety of agency roles, swap counterparties, rating agencies and investors.
We also advise on regulatory issues relating to securitisation including in connection with the European Securitisation Regulation, CRD IV, CRR, AIFMR, Solvency II and Bank of Portugal Regulations.
We have an extensive track-record in advising on public and rated securitisations, and on private warehouses, for the most traditional asset classes. These include residential and commercial mortgage loans, car loans (leasing and renting), SMEs, consumer credit (unsecured) and industrial equipment leasing.
We have played a central role in some of the most innovative structured debt and securitisation operations in Portugal, and we have contributed to the development of legal technology in this field. Our team was recently responsible for structuring:
We have also recently acted in the first STS securitisation in Portugal and were responsible for the incorporation and regulatory approval process of the most recent securitisation vehicles in Portugal (securitisation companies).
With some of the most recognised specialists in debt capital markets in Portugal, who have a strong international background and academic recognition, we guarantee support for our clients across the entire spectrum of the debt market.
We have advised the Portuguese State on sovereign debt issues, with a combined value of several billion euros. We have also structured MTN issuance programmes, standalone bond issues, commercial paper, convertible or hybrid securities, structured products, and covered bonds. In doing this work, we act for issuers, underwriters, service providers and market participants, whatever the scenario or transaction.
Besides our extensive experience in the more traditional segments of the debt market, we are pioneers in the sustainable investment segment. This has been one of the fastest growing segments globally in recent years, and we advise on the issuance of green bonds, sustainability linked bonds and transition bonds.
"Sources commend the firm's capabilities in the field, enthusing: "The team is pragmatic, commercial and knows how to work with international clients.""
"Sources commend the firm's capabilities in the field, enthusing: "The team is pragmatic, commercial and knows how to work with international clients.""
"Sources commend the firm's capabilities in the field, enthusing: "The team is pragmatic, commercial and knows how to work with international clients.""
"Well versed to cover debt and equity capital markets, in addition to structured finance and derivatives. Compact team active in public and private offerings and corporate governance. Regularly advises financial institutions and domestic listed companies. "
"They move things along and are notably responsive, with a focus on the important factors."
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