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Marcelo Etchebarne

Marcelo Etchebarne

He/His/HimManaging Partner
Latin America Regional Practice Group Leader for Corporate Capital Markets
Special Projects Regional Leader for Asia

“Respected partner Marcelo Etchebarne boasts significant expertise advising Argentinian provinces on the restructuring of their debt. One interviewee enthuses: ‘He is particularly active advising on sovereign bond offerings and is a key player in this field.’ Another respondent adds: ‘Marcelo Etchebarne has a good understanding of our issues and is able to provide good advice.’" – Chambers Latin America, 2023.

Marcelo Etchebarne is a Partner at DLA Piper sharing time between the New York and Buenos Aires offices.  He serves as the Managing Partner of DLA Piper Argentina, Latin America Regional Practice Group Leader for the Corporate-Capital Markets Practice, and Special Projects Regional Leader for the Asia Practice.

With over 30 years of experience, Marcelo has extensive experience in capital markets, mergers and acquisitions, debt restructurings and complex dispute resolution, having worked on more than 250 transactions over the last two decades, including some of the largest transactions taking place in Latin America.

He designed some of the most innovative multi-billion cross border transactions taking place in the region, including five Latin American deals of the year in recent times. Marcelo acted as lead counsel to the Ad-hoc Creditors Committee on YPF's US$6.2 billion restructuring, the project bond and related financings and acquisitions of Stoneway Capital for US$1.1 billion, the representation of Vicentin on its US$1.5 billion restructuring (ongoing), the representation of bondholders on the US$66 billion debt exchange of Argentina, the successful representation of AES against YPF on a US$1 billion claim (settled), and Methanex against Petrobras (settled). He also designed the US$18.3 billion Argentine debt restructuring in 2010, in which he served as legal counsel to the Global Coordinator, Barclays Capital. Between 2002 and 2004 he acted as counsel to UBS on the US$80 billion debt restructuring of Argentina. Between 2012 and 2016 he represented multiple institutional investors in connection with the Argentine debt litigation in New York courts. He has been frequently interviewed and quoted by the Financial Times, CNN and The Economist.


Counsel to the Ad-hoc Creditors Committee on YPF's 6.2 billion debt restructuring
Counsel to EDELCOS in the public tender offer of EDENOR’s shares in the New York and Buenos Aires stock exchanges
Counsel to EDENOR in the consent solicitation to amend term of condition of its existing bonds
Counsel to EDENOR in the debt exchange of its existing notes
Counsel to Vicentin on its US$1.5 billion debt restructuring
Counsel to Vicentin in the joint venture with strategic investors
Counsel to Jefferies on Stoneway Capital's US$500 million project bond and its US$165 million follow on (deal of the year in Latam by Latin Finance)
Counsel to UBS in the US$80 billion debt exchange of the Republic of Argentina (2002-2004)
Counsel to Barclays Capital as Global Coordinator of the US$18 billion debt exchange of Argentina (2008-2010)
Counsel to institutional investors in the US$62 billion debt exchange of Argentina (2020)
Counsel to multiple banks and the Province of Buenos Aires in over 40 international bond offerings made by the Province of Buenos Aires since 1998 to date
Counsel to Citigroup and the Province of Buenos Aires (PBA) in PBA's US$2.8 billion debt restructuring
Counsel to JP Morgan in the debt restructuring of a US$250 million bond issued by the Province of Mendoza and to Barclays Capital on its reopening
Issuer and underwriter's capital markets counsel in debt offerings and exchanges for the Provinces of Chaco, Chubut, Formosa, Entre Ríos, La Rioja, Mendoza, Neuquén, San Juan, Santa Fe and Salta
Debtor's counsel on the recent debt exchanges and consent solicitations made by the Provinces of Mendoza, Chaco, Entre Ríos, Chubut, Salta and Buenos Aires
Underwriter's counsel for UBS, Citi, Beal West LB, Salomon Brothers, Credit Suisse, Raymond James, Deutsche Bank, Barclays, JP Morgan and other banks on corporate debt and equity offerings
Special counsel to Pioneer and Apache on the US$600 million acquisition of Pioneer Natural Resources' assets in Argentina, among other notable acquisitions
Counsel to GP Investments, Temasek and LAIG in the US$1 billion acquisition of Pride International's assets in Latin America
Counsel in the sale of British Gas equity interest in MetroGAS one of the largest natural gas distributors in Latin America
Counsel to JP Morgan on the debt restructuring of MetroGAS
Counsel to AYSA on its US$500 million inaugural bond offering 
Buyer's counsel in two attempts to acquire YPF
  • English
  • Spanish
  • French
  • LL.M., Harvard Law School

  • Law degree, Universidad Católica Argentina Law School
    Highest GPA of his year
    Gold Medal


Chambers Global

  • Band 2, Argentina Banking & Finance (2019 – 2024)

Chambers Latin America

  • Band 2, Argentina Banking & Finance (2020 – 2024)

The Legal 500 Latin America

  • Recommended, Latin America: International Firms Capital Markets (2019, 2021 – 2024)
  • Leading Lawyer, Argentina Banking and Finance (2019, 2021, 2024)
  • Recommended, Latin America: International Firms Corporate and M&A (2019, 2021)
  • Recommended, Argentina Banking and Finance (2018, 2023)
  • Recommended, Argentina Corporate and M&A  (2024)

Additional Recognitions

Latin Lawyer 250

  • Key Partner, Capital Markets (2023 – 2024)
  • International Counsel, Banking and Finance (2023 – 2024)

IFLR 1000

  • Highly Regarded Lawyer, Argentina, M&A (2022 – 2023)

LACCA Approved 2024

  • Thought Leader, Banking & Finance
  • Thought Leader, Capital Markets

Leaders League 2024

  • Excellent, Banking & Finance
  • Highly recommended, Corporate/M&A

Marcelo Etchebarne was included in the 2020 Best Lawyers in Latin America for Corporate Law in Argentina and in 2020 he was recommended by the Latin American Corporate Counsel Association.

Pro Bono

Dedicates pro-bono work to El Museo del Barrio and to the Eisenhower Fellowships


  • "Acciones colectivas y consentimientos de salida respecto de bonos públicos" en Guillermo Cabanellas de las Cuevas, Gabriel de Reina Tartiere, Mercado de Capitales. Editorial Heliasta, 2009, Buenos Aires.
  • "Reestructuración de títulos públicos colocados en los mercados domésticos e internacionales de capitales" (págs. 367 – 405) en Revista de Derecho del Mercado de Valores. Editorial Wolters Kluwer, año 2009, número 4.


Marcelo serves as a Trustee, Treasurer, Co-Chair of the Development Committee and Member of the Executive Committee of the Eisenhower Fellowships in Philadelphia. The Eisenhower Fellowships is a private, nonprofit, nonpartisan organization dedicated to identifying outstanding ascendant leaders who share President Eisenhower's belief in the powerful possibilities of a more peaceful, prosperous, and just world and to help them produce impactful change ( Marcelo serves as Trustee of the El Museo del Barrio in Harlem, New York, the largest museum dedicated to Latin American artists. He also served as Board Member at the Rainforest Foundation in New York, Treasurer of Americanos del Sur en el Siglo XXI in Buenos Aires, Senior Advisor to the Advanced Leadership Foundation in Washington DC, Member of the Pro-Bono Committee at the Colegio de Abogados de la Ciudad de Buenos Aires, and Vice Chairman of the Harvard International Law Society.

Memberships And Affiliations

Bar admissions: Ney York and Argentina (detailed above)

Trustee of the Eisenhower Fellowships in Philadelphia

Trustee World Jurist Association

Member of the Board of Trustees of the El Museo del Barrio in Harlem, New York




+1 212 335 4787
(Work, New York)
+5411 4114 5500
(Work, Buenos Aires)