Capital Markets

Morales & Besa are leaders in the area of capital markets. We have extensive experience in of the full spectrum of transactions, including: stock exchange openings;, secondary public offerings of shares;, capital increases; short and long-term debt issuances; restructurings; and, various types of financial and stock market operations, both locally and internationally.

Our capital markets team includes a group of professionals dedicated to advising on capital market regulation and compliance.

Our clients include the most prestigious national and international investment banks, securities issuers, investors, as well as institutions that participate in the structuring and execution of all types of transactions in the capital markets. We regularly provide first-of-its-kind advice that serves as a precedent for subsequent transactions.

Contact team
Guillermo Morales E.
+(56) 224727007
José Miguel Carvajal D.
+(56) 224727064
Andrea Díaz T.
+(56) 224727015

Awards and
recognitions

Band 1

The Legal 500 / 2022

Morales & Besa‘s six-strong practice routinely advises on complex and innovative capital markets deals. The firm is a counsel of choice for prestigious investment banks such as Goldman Sachs and JP Morgan, while on the issuer side, the team acts for prominent domestic corporations on their major capital and debt raising processes; in addition to the capital markets group’s transactional work for underwriters and issuers, it also assists both domestic and global funds and asset managers.

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Band 2

Chambers & Partners / 2022

Morales & Besa is a renowned full-service firm that is recognised for its capital markets expertise as it possesses significant experience advising on IPOs and secondary offerings, as well as on the issuance of debt securities, most notably Chilean sovereign bonds. The law firm’s clients include major investment banks acting as underwriters or placement agents, and also advises a range of major issuers.

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Relevant operations in
Capital Markets

The Republic of Chile – Ministry of Finance
We acted as special local counsel to the Republic of Chile and its Ministry of Finance in connection with the issuance, global offering and placement of the world's first sovereign sustainability-linked bonds for an amount of US$ 2,000,000,000 due in 2042 and a 4.346% interest rate.
The Republic of Chile – Ministry of Finance
We acted as special local counsel to the Republic of Chile and its Ministry of Finance in connection with the issuance, global offering and placement of the first sustainable sovereign bond denominated in pesos for an amount of CLP$1,000,000,000,000 due in 2034 and a 7.0% interest rate.
Falabella S.A.
Advice to Falabella S.A., in the registration process of six indentures for a total amount of up to UF 30,000,000 (approximately US 1,280,000,000) in the Securities Registry of the CMF, and in the issuance and placement of Series AK Bonds for a total amount of UF 5,000,000 (approximately US 213,000,000).
Ruta del Loa Sociedad Concesionaria S.A.
We acted as legal counsel of Ruta del Loa (a public work (toll road) concessionaire company) in the issuance and placement of its second project bonds, for a total amount of UF 1,927,500 (approx. USD 70,760,000) due to 2050 ("Series C Bonds").