The Legal 500

Allen & Overy has an enviable reputation for sophisticated financing work and provides a ‘high-quality service’ through the four-partner team of Charles Poole-Warren, Ignacio Ruiz-Cámara, Íñigo Gómez-Jordana and Juan Barona. Highlights in 2010 included advising a banking syndicate led by BBVA on the €800m debt restructuring of steel producer Grupo Alfonso Gallardo and representing the banks on the €1bn debt restructuring of Spanish real estate company Realia.

Clifford Chance advises on the full spectrum of financial products and particularly ‘acts on transactions with a high level of difficulty, and which require very specific assistance’. It is also ‘especially good at overseas transactions’. Clients include Citibank, Banco Santander and Société Générale. Alberto Manzanares heads the team, which also includes José Manuel Cuenca, Pablo Bieger, Carlos Hernández-Canut, Yolanda Azanza, and English law specialist Stuart Percival. The practice delivers ‘quality service and excellent efficiency’.

DLA Piper Spain S L has ‘a wide range of experience and provides a quality service’. It represents major Spanish banks and other financial institutions and advised a syndicate including BBVA, Banco Santander and La Caixa on financing Unipapel’s acquisition of Adimpo. Practice head Jesús Zapata has ‘excellent skills combined with common sense’. César Herrero made partner in 2010 and is ‘extremely reliable and knowledgeable’. Javier Lopez Antón is also recommended.

Spain managing partner Iñaki Gabilondo heads Freshfields Bruckhaus Deringer’s practice group, which also includes Ana López and advises on both Spanish and English law. In 2010, the team acted for CVC and ACS on financing their €1.5bn joint acquisition of a 25.83% stake in Abertis. The team also advised Schweizerische Nationalbank on transferring Spanish mortgage assets held by UBS to a Swiss entity controlled by the client.

Linklaters SL advises lenders and borrowers on Spanish and English law, and acted for Gamesa on a €1.2bn forward start facility granted by a 37-lender syndicate to replace its existing credit facility. Other highlights included advising the lenders and La Caixa as agent and security agent on the acquisition of 25.83% of the issued share capital of Abertis Infraestructuras by a special purpose vehicle controlled by ACS, Criteria and CVC. Pedro De Rojas and Ben Crosse are key individuals.

Uría Menéndez’s corporate department enjoys a solid reputation for banking and finance work. Carlos de Cárdenas Smith heads the practice, and other key individuals include González Ruiz and Sebastián Sáenz de Santa María. Jaime de San Román joined in October 2009 from Clifford Chance where he headed its Spanish banking team. Recent highlights include advising a group of lenders led by La Caixa, Banco Santander and BBVA on Eroski’s €2bn debt refinancing.

Gonzalo Jiménez-Blanco heads Ashurst LLP’s practice, which also includes Juan Hormaechea and Jose Christian Bertram. The team recently advised Caixa Galicia, Caixanova and Cajastur on acquiring a significant stake in Itinere, one of Spain’s leading infrastructure managers, and advised Panrico on refinancing its global debt.

Cuatrecasas, Gonçalves Pereira’s seven-partner practice is praised for its ‘superior quality’ and the ‘remarkable strength-in-depth of the team’. The firm represents several of Spain’s leading financial groups, and advised the banks on restructuring Ferrovial’s corporate debt. Other highlights included advising lenders on financing Emparque’s acquisition of Cintra Aparcamientos.

Garrigues advised YPF on financing investments, and acted for a syndicate of lenders in granting a revolving credit facility to Campofrio. The corporate restructuring team also experienced a surge in activity. Rafael González-Gallarza heads the practice, which also includes José Guardo, Pablo San Gil and Lluis Esquerra.

Gómez-Acebo & Pombo Abogados recently acted on Instituto de Crédito Oficial’s near €23bn securitisation, Europe’s largest. It advised Caixa Galicia and a syndicate on Afirma Grupo Inmobiliario’s debt refinancing. Fernando Igartua, Ángel Varela and Carlos Rueda are the practice’s leading individuals.

Araoz & Rueda acted for Spanish solar power player OPDE on financing and advised Deutsche Bank on Spanish aspects of refinancing a secured revolving credit facility for Toys R Us. Other clients include Goldman Sachs, BNP Paribas, Link Financial and IFC. Clifford Hendel heads the group.

Baker & McKenzie’s ‘remarkable’ team recently acted for multinational services provider ISS in establishing a multi-jurisdictional securitisation programme providing funding of up to €500m. Rossanna D’Onza heads the practice. The ‘hardworking’ Fernando Álvarez-Ude made partner in January 2010.

Bird & Bird (Spain) LLP has particular experience in representing developers and financial institutions in renewable energy and also recently advised RBS on bankruptcy scenarios affecting its aircraft transactions portfolio. Andres Lorrio is the key contact.

Broseta Abogados advised a banking syndicate on Natraceutical’s merger into French listed company Naturex. Other clients include Banco Santander, BBVA, and new client Deutsche Bank. Antonio Navarro heads the team.

CMS Albiñana & Suárez de Lezo advises borrowers and lenders including representing Deutsche Bank, Banco Santander and Banesto. Gracia Sainz heads the three-partner department, which recently advised a syndicate of leading banks on the €23m loan granted to Grupo Urbina to refinance its existing debt, as well as part financing to acquire an additional 15% stake in Infoglobal.

Davies Arnold Cooper LLP has significant expertise in real estate and construction finance, as well as investment funds and regulated markets work. The team recently advised a client on a €980m portfolio of non-performing loans purchased from Caixa Galizia. Javier Ortega heads the practice, which also includes Manuel Rodríguez de Bethencourt.

Perez-Llorca enjoys a strong reputation for borrower mandates – including €1bn refinancing for Polaris World – although it has recently increased its work for lenders. Fernando Quicios and José Luis García-Manso are recommended.

Ramón y Cajal, Abogados acts for Spanish and international banks on issues such as banking and supplier contracts and documentary credits. Rafael Bazán López and Francisco José Bauzá Moré are recommended.

Carlos Pazos heads the team at SJ Berwin, which has considerable international banking experience and recently advised Matrix European Property Holdings on the Spanish legal aspects of a syndicated loan, in conjunction with the firm’s French, German and English offices.