Infrastructure Law Firm of the Year-Andes: Philippi Prietocarrizosa Ferrero DU & Uría

LATAM OFFICES: Lima, Santiago, Bogota
HEAD PARTNERS: Marcelo Armas and Martin Acero (Co-chairs), Guillermo Ferrero (Managing Partner, Peru)

In recent years, the Andean region has been home to one of the busiest infrastructure and project financing markets in Latin America.

But fallout from the Odebrecht scandal has had a chilling effect on markets in Colombia and Peru.

Still, PPU has skillfully led clients through the headwinds, making it the winner of the award for Best Infrastructure Law Firm: Andes.

“It certainly has been a challenging year,” says Juan Fernando Gaviria, a partner in PPU’s Bogota office.

The firm showed good range working across Colombia, Peru and Chile. It was involved in the financial closing of the Ruta del Cacao 4G highway project included a COP1.68 trillion debt package to help fund the construction of the Bucaramanga-Barrancabermeja-Yondó road.

It was also involved in the Autopista al Mar 1 project, serving as a counsel to BlackRock, which was among the international lenders in the project. In Peru, PPU worked on the Lima Metro’s Line One project bond issuance. And in Chile, PPU worked on the $2.5 billion financing of the development of the Quebrada Blanca 2 copper mining project.

Looking ahead, Gaviria expects activity to increase in the transportation sector in Colombia. Among the country’s biggest projects is a plan to build the first line of Bogota’s long-planned subway system. “I think transportation deals are going to pick up very quickly over the next few months,” he says.

Gaviria also says he expects Peru’s infrastructure sector to rebound in 2020 from its recent slump.