Banking and Finance
Garrigues wins the award for best law firm in the Andes in banking law
Garrigues has been named Team of the Year for the Andean States in banking and finance law by the International Financial Law Review (IFLR), which each year selects the best deals carried out in Latin America. The editorial board of this prestigious publication focused on the cross-border component, innovation, and the valuation of the companies involved in each of the deals it analyzed.NPLs in Spain, Portugal and Latin America: more selective deals and increasing activity in secondary markets and debt servicing industry
In the first three quarters of 2023, we saw investors adopting a more selective and specialized approach in their NPL investments, increasing their appetite for unlikely-to-pay (UTP) and reperforming loans (RPLs).The challenges of European AI regulation for the financial sector
Artificial intelligence has enormous potential for financial institutions. Therefore, in addressing its regulation, the aim is to provide a framework of legal certainty to facilitate its adoption and also to address the challenges and risks for the sector, customers and supervisors.The Mexican Senate has approved an initiative to reform the Securities Market Law and the Investment Funds Law
The initiative, which envisages some important changes aimed at making the Mexican stock market more flexible, must continue its legislative passage and may undergo amendments before being definitively approved.Garrigues wins four awards from Latin Finance for its project and infrastructure work
The annual Latin Finance Projects and Infrastructure Finance Awards recognize standout project and infrastructure transactions in Latin America, a field considered fundamental for the region’s economic advancement. Four project finance deals that Garrigues advised on, led from the Chile and Colombia offices, came top on this occasion.NPL and REO transactions continue to take off in Latam, Spain and Portugal
NPL transactions continued to take off in the third quarter of 2021. A growing interest in NPL securitizations has been perceived, especially in Spain. In Europe, meanwhile, talks continue on two key topics: the draft directive on credit purchasers and credit servicers – which has made great progress –, and talks on the European Banking Association’s templates aimed at simplifying NPL portfolio transactions. The gradual disappearance of forbearance programs and other support measures in Latin America, Spain and Portugal are fueling very reasonable estimates on the forthcoming launch of new transactions.Social bonds gain ground in Latin America
Latin America and the Caribbean was the region with the fastest growing thematic bond market globally. This context prompts interest in the impact of sustainable investment and the potential of social bond issuances in Latin America, as well as how the legislation has evolved in each jurisdiction. In this article, we deal with the current situation in Chile, Colombia, Mexico and Peru.NPLs and REOs: LatAm, Spain and Portugal wake up to debt market new normal
Transactions with non-performing loans (NPLs) started to take off in the second quarter of 2021, especially in Spain and Portugal. The gradual fading in continental Europe of the health impact of COVID-19, combined with the progress made in vaccinations, have allowed various “sleeping” transactions to be brought back into motion and new transactions to be closed between the first and second quarters of 2021. Meanwhile, in the global arena, there have now been numerous alerts from regulators over the deteriorating quality of financial institutions’ loan assets. The coming to an end of governmental relief or forbearance measures, combined with the heightened impact of COVID-19 on very specific business sectors, are likely to hasten the pace of NPL transactions over coming months.