Ignacio Lagos’ practice focuses on cross-border corporate and financial matters, including multi-billion dollar securities offerings, liability management transactions, derivatives, structured financing, and restructurings, with a special focus on Latin American sovereigns and state-owned enterprises.

Ignacio has advised on debt offerings and liability management transactions by the governments of Argentina, Brazil, Chile, Costa Rica, Dominican Republic, Ecuador, Ghana, Guatemala, Honduras, Jamaica, Mexico, Paraguay, and Uruguay, as well as several Argentine provinces and state-owned enterprises. He also regularly advises governments, state-owned enterprises, financial institutions, private companies and sponsors on derivative transactions, restructurings and structured financing.

Ignacio has substantial experience in sustainable financing, including advising on the first two sustainability-linked bond issuances by sovereigns.

Ignacio is frequently invited to lecture on cross-border financing transactions and sovereign debt restructuring matters at leading academic institutions, including New York University School of Law, the University of Virginia School of Law, the University of Buenos Aires, Universidad Torcuato Di Tella, and Universidad de San Andrés.

Ignacio joined the firm in 2014 as a paralegal, became an international lawyer in 2015, and an associate in 2018.

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Notable Experience

  • The Republic of Argentina in its successful $63.4 billion sovereign debt restructuring.

  • The Central Bank of the Argentine Republic (BCRA) in the negotiation and execution of a currency exchange (swap) framework with the United States Department of the Treasury in an amount of US$20 billion, and related agreements.

  • PEMEX in its $2 billion liability management transaction.

  • Banco del Estado de Chile in connection with its debut international debt offering of US$600 million aggregate principal amount of its inaugural perpetual Additional Tier 1 (AT1) notes.

  • Dominican Republic in its dual sovereign bond offering and concurrent tender offer.

  • Citigroup Global Markets Inc., as dealer manager, in the Republic of Ecuador’s successful $17.4 billion sovereign debt restructuring.

  • The United Mexican States in connection with (i) an insurance agreement entered into with the IBRD in respect of its US$485 million catastrophe bond, and (ii) multiple SEC-registered bond offerings and tender offers with exchange features totaling US$49 billion, including its recent US$8 billion and €5 billion bond offerings to finance Pemex’s liability management transactions.

  • The Republic of Uruguay and the underwriters to an offering of the Republic of Chile in their respective inaugural sovereign sustainability-linked bond offering.

  • YPF S.A. in its $2 billion exchange offer and consent solicitation as well as multiple bond offerings and credit facilities.

  • The Province of Buenos Aires in its $7.1 billion debt restructuring and settlement negotiations with holdout creditors.

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Selected Activities

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