Errecondo, González & Funes is one of the leading business law firms in Argentina as shown by the impressive record of landmark transactions it has handled since its inception in 2004 and its involvement in many of the most important corporate and financial transactions completed since the election of President Macri in December 2015.
The partners of the firm have a collective experience of more than 60 years developed in Argentina and in the United States in the legal structuring and execution of most of the landmark cross-border transactions involving Argentine parties or assets since 1990, including international M&A, public offerings of equity and debt securities, sovereign and sub sovereign international debt placements and restructurings, equity exchange and tender offers, project financing, privatisations, corporate debt restructurings and real estate acquisition and development.
The firm is based in Buenos Aires and has recently opened an office in New York City to better assist its clients based in the US when they invest or lend money into Argentina as well as to its Argentine clients raising funds or otherwise doing business in the US.
Main areas of practice
Banking: The firm regularly represents domestic and international financial institutions, including multilateral lending organisations and non-bank lenders in loan style financings to private and public sector Argentine borrowers, including project financing. It has significant expertise representing investment groups and the borrowing vehicles in acquisition financings taken by them to finance acquisition of regulated companies. The firm expects to be a major player in the recenty launched PPP initiative under which the Argentine government will request bids to develop infrastructure works in many areas and that will demand multi-billion cross-border financing.
Capital markets: The firm is second to none in this field. Partners of the firm have been in charge of many of the most important capital market transactions involving Argentine private and public sector issuers in the past 20 years. The firm acted for the Republic of Argentina in connection with the international offering of more than U$S16 billion of bonds completed in April 2016 to resolve the conflict with the holdout bondholders. The firm was able to take advantage of the re opening of the international capital markets for Argentine issuers resulting from this landmark transaction and became one of the most active firms in Argentina in capital markets transactions having worked as counsel to issuers and underwriters in many international debt and equity offering that closed as well as in many more currently under preparation, including six equity offerings registered with the US SEC.
Governmental affairs: In serving its clients, the firm has developed ongoing working relationships with those Argentine governmental entities relevant to its practice, such as the Ministry of Finance, the Ministry of the Treasury, the National Securities Commission, the Central Bank of Argentina, the Ministry of Energy, the Ministry of Communications, the antitrust agency as well as with many senior members of the national, provincial, and municipal executive, legislative and judicial powers.
Mergers and acquisitions: The firm has a leading practice in the acquisition and divestiture of regulated companies working for investment groups and strategic investors. It has led the acquisition and merger of many companies in the utilities, telecommunications and media industries as well as financial institutions. The firm represented Fintech in the acquisition of Telecom Argentina and its subsequent merge with Cablevision. The firm has a recognised expertise in the development of acquisition structures for private equity such as investment groups to comply with Argentine legal, regulatory and tax restrictions and limitations.
Private equity: In addition to representing many private equity funds in M&A transactions, the firm have an unique expertise in the establishment of domestic and international investment vehicles dedicated to invest in Argentine assets. The firm was responsible for the legal structuring and implementation of the first public equity investment fund even registered before the Argentine Securities Commission.
Real estate: The firm has a strong real estate practice in all parts of the process having acted for sponsors, developers and investors in the structuring of the investment group, the acquisition of the property, the supervision of all regulatory approvals and permits, the negotiation of material contracts and financial transactions for the projects, which included residential, industrial and commercial property, including one of the principal shopping malls of Argentina.
Securitisation: The firm has a recognised practice in securitisation developed in representing underwriters, originators and rating agencies in numerous domestic and international groundbreaking securitisation for different classes of assets, such as mortgage loans, auto and consumer loans, export loans and future flows of all types, such as commodity export receivables, toll road receivables and credit card air ticket receivables.