Banking and finance in Spain

Allen & Overy

The broad practice of Allen & Overy is particularly skilled at real estate finance, direct lending, litigation funding transactions and financial regulatory services. The firm can bring strength in tax, restructuring, TMT, energy and private equity to its banking and finance work, and is particularly experienced in NPL transactions. The team is co-led by Ignacio Ruiz-Cámara, who is active in a range of financing transactions at a national and international level; funds expert Juan Hormaechea; Jimena Urretavizcaya, whose expertise includes leveraged, real estate and structured finance; Charles Poole-Warren, who is known for energy and infrastructure-related matters; and financial regulatory specialist Salvador Ruiz Bachs. Another key name in the area is Vanessa Cuellas, who advises on cross-border financing transactions.

Practice head(s):

Ignacio Ruiz-Cámara; Juan Hormaechea; Jimena Urretavizcaya; Charles Poole-Warren; Salvador Ruiz Bachs

Other key lawyers:

Vanessa Cuellas; Sofía Sánchez-Calero; Paloma Asegurado

Testimonials

Strengths: understanding of client priorities and focus on them, proposals / proactivity based on extensive experience in the financial sector.’

‘Involvement of all levels of the office depending on the criticality of each task. The partner brings her extensive experience to unravel relevant problems of the operation, and the rest of the team executes their corresponding tasks with proactivity and excellence. The entire team would stand out: Jimena Urretavizcaya (partner), Sofía Sánchez-Calero and Paloma Asegurado (associates).’

Knowledge and experience at the same level. Compares favorably with teams from other firms.’

‘Accessible and well-oriented people. Great level of knowledge and experience – Salvador Ruiz Basch.’

Key clients

Banco Santander

Gamesa

Riverside

Caixabank

BBVA

Boluda Corporación Marítima

Davidson Kempner

BNP

EQT

CVC

Redexis

Banco Sabadell

Citibank

Cellnex

Work highlights

  • Advised the financing entities on financing to Cellnex for the acquisition of the telecommunications division of Arquiva.
  • Advised the banks on the financing of the takeover bid launched by EQT, Corporación Financiera Alba and Miles Capital for Parques Reunidos.
  • Advised Santander and Citibank as financers on the public takeover of Telepizza.

Clifford Chance

The team of UK, US and Spain-qualified experts at Clifford Chance advises on a range of finance matters, including project, leveraged, real estate, asset and acquisition finance. The firm provides notable strength in refinancing and debt restructurings, as well as syndicated lending. On top of its banking and finance expertise, the practice has a sector focus, particularly in infrastructure, energy, telecoms, media, technology, financial services and private equity. José Guardo leads the team and is known for structured finance related to energy and infrastructure projects. Other key names for the firm are Epifanio Pérez, who handles restructuring and refinancing from a lending perspective, as well as acquisition and asset finance; Rodrigo Uría, who leads the real estate financing practice and specialises in leveraged finance; and the US and UK-qualified Carl Fitzgerald, who advises on real estate and acquisition financing. Also active in the area are senior associates Eugenio Fernández-Rico, María Sabau and Felipe Font.

Practice head(s):

José Guardo

Other key lawyers:

Epifanio Pérez; Rodrigo Uría; Carl Fitzgerald; Eugenio Fernández-Rico; Felipe Font; María Sabau; Pedro Torres Cubillas; Miguel Barredo

Testimonials

Strengths: very good technical skills and drawing very complex contracts to perfection. They compare favorably with teams from other firms.’

‘Maria Sabau has a complete vision of the financing contracts and perfectly understands how it relates to the other documents of the transaction.’

Clifford Chance brings confidence in decisions made as a great insight into the legal implications as well as top-notch professional resources.’

‘Exceptional partner: Rodrigo Uria gives security, reliability, empathy, commitment, knowledge, professionalism. Others: Pedro Cubillas and Miguel Barredo, commitment, knowledge, professionalism.’

Key clients

Banco Santander

JP Morgan

Acciona

Natixis

Sacyr

Cellnex

Eroski

CaixaBank

Enagas

Deutsche bank

Work highlights

  • Advised Kohlberg Kravis Roberts and Artá Capital on the financing for the acquisition of Grupo Alvic. The financing agreement included an institutional tranche and the necessary mechanisms and flexibility to allow the company for its international growth.
  • Advised Caixabank on the term loan facility agreement up to the amount of €200m to Inmobiliaria Colonial, Socimi for its general corporate purposes.
  • Advised Credit Suisse as arranger of bridge facility agreement to provide SIX Group AG with financing

Cuatrecasas

The deep bench of banking and finance specialists at Cuatrecasas handles local and international transactions, particularly in relation to Latin American jurisdictions. Supplementing its work in this area, the firm provides additional expertise in investment funds, capital markets, project finance and real estate. Specialisms for the practice include fintech, distressed debt, restructuring transactions and alternative financing, as well as a range of financial regulatory issues. The team is jointly led by Íñigo Rubio, who focuses on financing infrastructure and real estate projects, as well as corporate and asset finance; Héctor Bros, who is head of the finance group in Barcelona and advises on corporate and acquisition financing transactions; and Jorge Canta, who is a specialist in financial regulation, investment vehicles and financial products. Other key names are project finance expert Fernando Bernad and Miguel Sánchez Monjo, who was promoted to partner in 2020 and has experience in financial regulation, often advising national and international financial institutions.

Practice head(s):

Íñigo Rubio; Héctor Bros; Jorge Canta

Other key lawyers:

Fernando Bernad; Fernando Mínguez; Miguel Sánchez Monjo

Key clients

Cetelem

Deutsche Bank

Banco Mediolanum

N26 Bank

Banco Santander

Apollo Global Management

Boursorama

Novo Banco

Caixabank

Grupo Sando

Work highlights

  • Advising Gestamp Automoción on novating several financing agreements. €1.4m.
  • Advising El Corte Inglés on a new syndicated loan through a revolving line of credit.
  • Advising on the financial restructuring process of the Lecta Group.

Garrigues

Acting for commercial and multinational banks, corporates and funds, Garrigues’s broad expertise includes financial regulatory and fintech advice. As well as providing expertise in the financing and refinancing of large corporate groups, the firm handles distressed, rescue and NPL financing matters. Other areas of specialism for the practice are Latin American infrastructure, public sector and hybrid transaction finance. The department is also increasingly active in finance transactions involving traditional debt instruments with securitisation features. Rafael González-Gallarza advises international banks, funds and corporates on a range of banking and financial matters. He co-leads the team with Luis de la Peña, whose work covers banking regulations, collective investment vehicles, pension funds, private equity, payment services and e-money. Also notable are José Miguel Pinillos, who specialises in the financing and debt refinancing of corporate groups; associate Jon Goirigolzarri, who focuses on project finance; and Xabier Urtiaga Valle, who is known for financing and refinancing transactions, advising lenders and borrowers.

Practice head(s):

Rafael González-Gallarza; Luis de la Peña

Other key lawyers:

Gonzalo Rivera Gómez; José Miguel Pinillos; Gaspar Atienza; Jon Goirigolzarri; Xabier Urtiaga Valle

Key clients

BANCO SANTANDER

BBVA

DISA HOLDING ENERGÉTICO, S.A.

DEUTSCHE BANK

SACYR

SAREB

CREDIT AGRICOLE

BANCO SABADELL

MERIDIAM

MCH PRIVATE EQUITY

PROA CAPITAL

Starwood Capital Group

AMUNDI ASSET MANAGEMENT

GAWA CAPITAL PARTNERS, SGEIC, S.A.

DIF CAPITAL PARTNERS

Work highlights

  • Advised Bain Capital on the complex financing structure for the acquisition of the Kantar Media business by the joint venture structure established between Bain Capital and WPP plc.
  • Advised AMUNDI ASSET MANAGEMENT (France) on its aquisition of the 100% of the shares of SABADELL ASSET MANAGEMENT (fully owned by BANCO DE SABADELL) with the signing of certain long-term commercial cooperation agreements.
  • Advised Alsea in the renegotiation of certain commitments (including financial covenants) of its principal corporate financings, all as a result of the impact generated by the Covid-19 crisis.

Linklaters

The Spanish and English teams of Linklaters work closely together on a range of debt refinancing and restructuring transactions. The firm acts for corporates, private equity firms and banks, providing experience in LBOs and new money financings, notably direct lending. The practice is jointly led by Juan Barona, who has expertise in acquisition financing, leveraged financing and restructuring; Pedro De Rojas, who is known for banking, finance, restructuring and insolvency work; financial regulatory expert Paloma Fierro; and English law partner Ben Crosse, who focuses on complex financial and corporate restructurings. Also active in the area are managing associates Begoña Martínez, who handles bank financing deals; and Francisco Sáinz-Trápaga, whose work covers bank finance for asset acquisitions, refinancing and debt and capital markets transactions.

Practice head(s):

Juan Barona; Pedro de Rojas; Ben Crosse; Paloma Fierro

Other key lawyers:

Begoña Martínez; Francisco Sáinz-Trápaga; Javier Hernandez

Testimonials

Generation of strong relationships of trust with clients. Great ability to adapt depending on the evolution of circumstances in the recovery and debt restructuring processes. Leadership ability in complex legal situations.’

‘Pedro de Rojas. Ability to dialogue at all levels, flexibility to bring positions between the parties, continuous support in the restructuring processes highlighting the strengths and weaknesses of the restructuring agreements, from a legal and legal security approach in the construction of operations.’

We have worked with Linklaters in a large number of operations and we have always considered it to be one of the best banking and financial firms in Madrid. Its efficiency, ability to manage a large number of banks in legal discussions, possibility of making a variety of very different financing (corporate, acquisitions, LBO, restructuring, etc.) and professionalism of the team make it always a piece of mind to work with them.’

‘Without a doubt, the human quality of the Linklaters banking and financial team is outstanding, from the partners (Juan Barona, Pedro de Rojas, Ben Crosse) to the teams I have worked with (Fernando Sainz-Trapaga, Javier Hernandez, Begoña Martinez ). I would also mention their availability and way of working, which makes the legal processes and negotiations very efficient.’

Key clients

Banco Santander

Société Générale

BBVA

Banco Sabadell

Permira

CVC

ProA Capital

Ares

Enagás

OHL

Work highlights

  • Advising CVC (and its subsidiary Rioja Bidco Shareholdings) on the financing for the acquisition from Repsol of 200,858,658 shares of Naturgy.
  • Advising the arrangers and lenders on a €330m Facility B and a €60m revolving facility to CVC for the acquisition of Universidad Privada de Madrid.
  • Advising ING, Banco Santander, Natixis and Bankia (the lenders) on the €250m financing granted to Global Tholos for the acquisition of Palacios Alimentación from Carlyle and the management of Grupo Palacios.

Uría Menéndez

Advising borrowers and lenders, Uría Menéndez has substantial experience in corporate lending, project finance, asset and acquisition finance, restructuring and financial regulation. The firm is active in cross-border transactions throughout Europe and Latin America, with particular strength in debt restructurings and divestments of financial assets. Ángel Pérez López leads the team and focuses on corporate, acquisition and project finance. Key names in the practice include Carlos de Cárdenas Smith, who handles banking and finance, M&A and restructuring work; Carolina Albuerne, who specialises in banking regulation and securities law; Isabel Aguilar, who advises credit entities, investment firms, asset and fund managers; and Sebastián Sáenz de Santa María, who has expertise in banking, project finance, acquisition finance and restructuring.

Practice head(s):

Ángel Pérez López

Other key lawyers:

Carlos de Cárdenas Smith; Sebastián Sáenz de Santa María; Carolina Albuerne; Isabel Aguilar; Pilar Lluesma

Testimonials

‘They combine very high technical knowledge with the ability to focus on what is relevant and high partner availability.’

Exceptional dedication to the client.’

‘Team committed to the highest quality of advice.’

‘Pilar Lluesma, always available, exhaustive in her analysis.’

Key clients

Banco Santander

Natixis

BBVA

ING

Caixabank

Grupo San José

Tubos Reunidos

Grupo Lar Inversiones Inmobiliarias, S.A.

GPF Capital

Plenium Partners

Banco Sabadell, S.A.

Asociación Española de Banca (AEB)

Unicaja Banco, S.A.

Abanca

Work highlights

  • Advice to Banco Santander as main creditor and new money lender, and other financial institutions in all stages of the restructuring process of the ABENGOA group financial indebtedness since its beginning, including tax, finance, capital markets and other commercial law aspects.
  • Advising Banco Santander, the lenders, on the global restructuring of the financial debt of Spanish company Eroski, Sociedad Cooperativa and certain companies of its group by means of a master facility restructuring agreement.
  • Advising Banco Bilbao Vizcaya Argentaria on the sale of a portfolio of secured and unsecured loans and real estate ownerships with an aggregate outstanding balance amounting to c. €1.5bn.

DLA Piper

Specialising in multi-jurisdictional transactions, DLA Piper advises large banks and international financial institutions on leveraged finance, project finance, debt capital markets, corporate financing, asset base lending, real estate financing and securitisations. On top of this, the firm provides financial regulatory advice, as well as an innovative platform for secure, cloud-based document analysis and provision extraction called Kira. Practice head César Herrero focuses on bank finance deals, particularly leveraged, project and structured finance. Also of note is Jesús Zapata, who is experienced in corporate and acquisition financing transactions.

Practice head(s):

César Herrero

Other key lawyers:

Jesús Zapata; Antonio Olarte; Juan Gelabert; Carmen Sánchez; José Marco; Carmen Fernández-Ladreda; Rocío Smith; José Ignacio Monedero; Felipe López

Testimonials

I believe that the main strengths of the DLA Spain financial-banking team are: Experience in the sector: it is evident when they provide efficient and quick solutions to complicated, unexpected or last minute problems that arise in operations. Multidisciplinary: they have team members who are specialists in various subjects so, in particular for special operations such as Real Estate, they provide a lot of added value.’

‘Their advice is of great added value, providing good ideas and facilitating the structuring of operations, solving problems, etc. I think it is a highly recommended firm, especially César Herrero and the team with whom he usually works (Carmen Sánchez, José Marco, Carmen Fernández-Ladreda, Rocío Smith, José Ignacio Monedero, Felipe López) and Juan Gelabert.’

They know the market deeply and are technically very good. Price quality is one of the best in Madrid Despachos.’

‘César Herrero: He has a very respectful style with his colleagues, calm and close. In addition, technically he is a 10. Able to provide solutions to any legal problem that you raise and explain them clearly and concisely. His involvement in each matter is total.’

Specialist lawyers and highly involved in operations with imaginative solutions. Especially relevant is the partner, César Herrero, one of the best lawyers in Madrid.’

‘César Herrero is an exceptional attorney. He is 100% involved in operations, knows every angle, provides solutions and is always ready to help and work for the good of his client and the operation.’

‘Juan Gelabert’s advice is always cutting edge. He ensures that it is up-to-date with trends in the sector both locally and internationally and is an excellent reference for issues with international connotations that he manages decisively through the network of offices. He knows the issues personally and is 100% involved until any problem is solved.’

They have excellent knowledge of the sector and the company. They know perfectly the points that are impassable red lines of the client and financial entity, which avoids inefficient negotiations. The service is agile and of the highest quality. The response time is especially remarkable. We regularly work with César Herrero and Antonio Olarte, both excellent professionals.’

Key clients

Santander

Banco Sabadell

Bankinter

Barclays

BBVA

CaixaBank

Corpbanca

Natixis

NatWest

Tikehau

Muzinich

Pemberton

RiverRock

LGT

Work highlights

  • Advice to Santander, BBVA and other lenders on a €4bn syndicated transaction made available to the Spanish Depositary Fund.
  • Advice to Santander, BBVA and other lenders regarding the refinancing of the €2bn debt of El Corte Inglés.
  • Advice to Puig S.L., a leading Spanish cosmetic company, as borrower, on a financing transaction through several bilateral financing agreements amounting to €880m.

Gómez-Acebo & Pombo

The finance and refinance experts at Gómez-Acebo & Pombo are active in lender and borrower side transactions. As well as experience in real estate and project financing, the firm has a strong direct lending practice, particularly active advising foreign clients on credit assignment transactions, NPLs and debt portfolio acquisitions. Miguel Lamo de Espinosa leads the team and covers distressed situations and acquisition finance, as well as project finance, private equity and corporate finance. Key names in the practice include Rafael Aguilera, who specialises in general financing operations, asset financing, acquisition finance and debt refinancing; and Fernando Herrero, who focuses on asset financing operations, particularly vessels and aircraft. Vanessa Armas joined as of counsel in June 2021.

Practice head(s):

Miguel Lamo de Espinosa

Other key lawyers:

Rafael Aguilera; Fernando Herrero

Testimonials

‘It is a team that has great experience and knowledge in their professional field.’

‘The team is very easy to access and has fluid communication.’

‘They look for different and innovative alternatives to the processes in which they work, unblocking blockage points.’

Key clients

Banco Bilbao Vizcaya Argentaria – BBVA

Banco Santander

Triodos Bank N.V., S.E.

Caixabank

Deutsche Bank

Prudential

Ares Management

Abanca

Kartesia

PSA Financial Service Spain

BNP Paribas

Work highlights

  • Advice to the syndicate of lenders, in relation to the restructuring and refinancing of the senior old money debt held by the Abengoa group, including the negotiation of the restructuring agreement.
  • Advice to BANK OF AMERICA AND SYNDICATE OF BANKS, the creditors and senior secured bondholders, in the refinancing of Grifols.
  • Advising INTRUM in the acquisition through a competitive sale process (Project Juno) for a portfolio of unsecured non-performing loans.

Hogan Lovells International LLP

Differentiated by its dedication and empathy’, Hogan Lovells International LLP advises on acquisition, project, asset and real estate finance, and is particularly active in leveraged finance. The practice is also developing industry sector expertise in financing transactions involving Spanish REITs. As well as providing expertise in fintech, the firm utilises innovative tools in its service, including the 2020 creation of an AI-based tool to help clients navigate the European Banking Authority’s outsourcing agreement guidelines. José Luis Vázquez focuses on structured, infrastructure project, acquisition and corporate finance. He co-leads the team with Alfredo Barona, who represents local and international financial institutions in the Spanish market.

Practice head(s):

José Luis Vázquez; Alfredo Barona

Other key lawyers:

Alejandro González

Testimonials

‘Hogan Lovells is a firm that I can trust.’

‘I have been working with Hogan Lovells for more than four years and I would highlight their flexibility, adaptability and close treatment.’

‘They always produce high quality documents in a limited time and under great pressure.’

‘Without a doubt, when the possibility of signing a new transaction arrives, Hogan Lovells is one of the firms that I always keep in mind when requesting a quote.’

‘Alejandro González personifies the strengths of the firm. I have worked with him on complex matters and he has always managed to protect our interests in the contracts, defend them in negotiation calls and get the operation signed on time, no matter how demanding they were. He remains calm in times of pressure.’

‘It is a well compensated team between partners, seniors and juniors, where everyone has deep knowledge of the subject, in general, and of the customer and the transaction that is being carried out at each moment.’

‘Differenciated from the competition by its dedication and empathy with the customer, its interest in the transactions.’

Key clients

Volkswagen Bank GmbH

BBVA

Banco Santander

Atom Hoteles Iberia, S.L.

ING Bank, N.V. Sucursal

Oquendo Capital

Caixabank

BNP Paribas

Firmum Capital

Arcano Capital

FCE Credit

Acon Investments, L.L.C.

Bankia, S.A.

Banca March

Bankinter, S.A.

Work highlights

  • Advised BBVA on the acquisition financing made available to Arizona BidCo for the acquisition of a controlling interest in Grupo Alvic FR Mobiliario.
  • Advised Volkswagen Bank on its first public STS securitisation transaction in the Spanish asset-backed securities market.
  • Advised Banco Santander in the acquisition financing made available to Hines Global for the purchase of the headquarters of Airbus Defense and Space.

Latham & Watkins LLP

The 'very proactive and practical' Latham & Watkins LLP is known for bank and bond deals, particularly with a US and European cross-border element. The firm represents financial institutions and corporations in a range of business lending transactions, including asset-based and acquisition financings, medium term note (MTN) programmes and interest rate swaps. Practice head Fernando Colomina ‘knows the sector to perfection and the legal and commercial trends’, and represents banks, financial institutions and corporate borrowers and issuers.

Practice head(s):

Fernando Colomina

Other key lawyers:

Aitor Errasti

Testimonials

‘Ability to provide individualized advice even on issues in which they advise a union of entities jointly.’

‘Detailed follow-up of the issues: checklist of pending items, coordination calls for closings, etc.’

‘Very proactive and practical.’

‘Working with Fernando Colomina is a guarantee of cutting-edge advice. He knows the sector to perfection and the legal and commercial trends, he personally ensures the resolution of each problem that arises and keeps clients informed in a timely manner and handling relevant information in such a way that clients can focus on the issues that really add value to us.’

‘Technical solidity. Deep knowledge of Mercantile and Financial (Capital Markets).’

Key clients

The Carlyle Group

Banco Santander

JP Morgan

Triton Partners

Morgan Stanley

Caixabank

Goldman Sachs

BNP Paribas

Masmovil

Euskaltel

Fertiberia

Aernnova

Primefin

Work highlights

  • Advised The Carlyle Group on the financing of its acquisition of a 37% stake in CEPSA from Mubadala.
  • Advised Triton Partners in the €636m refinancing of the existing debt of Befesa.
  • Advised on the financing of the acquisition by Macquarie of an optical fibre network from MásMóvil.

Pérez-Llorca

Pérez-Llorca’s banking and finance team has particular expertise in debit finance, direct lending, private debt and financial services regulation, especially cross-border matters. The firm has broad experience, which includes project, acquisition and leveraged and real estate finance, as well as private banking, securitisation and restructuring. Qualified in Spain and the state of New York, Ander Valverde leads the team and handles a range of acquisition, corporate, project and asset finance matters. In recent developments, project finance expert Mónica San Román was promoted to partner, and counsel Paula De Biase left the firm.

Practice head(s):

Ander Valverde

Other key lawyers:

Fernando Quicios; Ildefonso Arenas; Mónica San Román

Key clients

Banco Santander

BBVA

CaixaBank

Kartesia

Tikehau

ING Bank

Bankinter

Banco Sabadell

Blackstone

Work highlights

  • Advised DIA and LetterOne on the negotiation of all documents which are part of the refinancing agreement reached with DIA’s syndicated lenders.
  • Advised Barclays Bank and a syndicate of lenders as Spanish legal counsel on all Spanish matters in relation to the refinancing of INEOS Enterprises Holdings Limited and its group.
  • Advising Credit Suisse International, BBVA and a syndicate of international banks on the refinancing and repricing transaction concerning a financing granted to the Spanish listed company Fluidra.

Ashurst LLP

Experienced in a range of finance transactions, Ashurst LLP has particular strength in leveraged, structured and project finance, as well as real estate, asset and vendor finance. The firm is also active advising on securitisation, capital markets, derivative products and debt restructuring. José Christian Bertram leads the team and specialises in structured finance, acquisition finance, project finance, restructuring and refinancing. Key names in the practice include Manuel López, who focuses on the regulatory aspects of financial services, banking and project finance; English law qualified Nick Pawson, who handles acquisition and leveraged finance, real estate finance and corporate refinancing; and counsel Josefina García Pedroviejo, who is a regulatory expert.

Practice head(s):

Jose Christian Bertram

Other key lawyers:

Manuel López; Nick Pawson; Josefina García Pedroviejo

Testimonials

‘It was very impressive how efficient and seamless the entire Banking and Finance team and their colleagues in Corporate, Tax and Employment at Ashurst Madrid worked together in these unprecedented times.’

‘Josefina García Pedroviejo did an extraordinarily good job giving sound and solid advice in very complex regulatory circumstances, coming up with practical solutions, bringing in experts in other areas of law when need be and working miracles when it comes to communicating with authorities and regulators during a complete lock-down.’

Key clients

Barclays Bank

Bank of America Merrill Lynch

Deutsche Bank AG

Chenavari Credit Partners

HIG Capital

JP Morgan

Barings International Investment Limited

Kartesia

Deutsche Pfandbriefbank

Banco Santander

Caixabank

Crédit Suisse

UBS Europe

Amundi

BlackRock

Invesco

Time Out Plc

Work highlights

  • Advised Arcmont Asset Management, Carlyle, Golub Capital and Macquarie on the Spanish law aspects of the financing of the acquisition (by Vista Equity Partners) of Accelya through an LBO.
  • Advised Lightsource on the refinancing of the acquisition of six photovoltaic projects in Spain of 300MW and on the financing for the subsequent construction.
  • Advising UBS Europe SE in the audit review undertaken by the Spanish Financial Markets Authority (CNMV) on the implementation of EU regulations MiFID II and PRIIPS in Spain.

Baker McKenzie

Providing ‘good technical knowledge and problem-solving capacity', Baker McKenzie specialises in cross-border banking and finance transactions. The firm’s experience covers acquisition finance, project finance, structured finance, securitisation and regulation. Trade, real estate and film finance matters also feature, and fintech is another key strength for the group. Rossanna D’Onza’s broad expertise includes cross-border lending, LBOs and financial restructurings. She co-leads the team with Joaquin Fabre, who joined in 2020 and focuses on corporate transactions, acquisitions, leveraged finance, real estate transactions and refinancing operations. Also joining in Madrid is Paula de Biase, who arrived in 2020 and brings financial services regulatory expertise. Marcel Enrich left the firm in 2020.

Practice head(s):

Rossanna D’Onza; Joaquin Fabre

Other key lawyers:

Paula de Biase

Testimonials

‘Very professional team, coordinated and fully available at all times.’

‘Technically excellent together with a professional and close treatment, taking care of every detail.’

‘Their concern and their agility of response stand out.’

‘Joaquin Fabre is very proactive and understands sensitive negotiation situations well to prepare documents with the appropriate tone’

‘Rossanna and her team fully understand the needs of the company in the context of a financing and know how to speak the “language” of business to convey relevant issues.’

‘I consider Rossanna D’Onza exceptional.’

‘Team with good technical knowledge and problem-solving capacity.’

Key clients

Sacyr, S.A.

Adient Ltd

Noteholders indirectly funding the remodelling of the Real Madrid Stadium

Banco Santander

Finalbion S.L.

Siemens Gamesa Renewable Energy, S.A.

BNP Paribas

Commerzbank

Crookwell Development

BBVA

Banca March

Warner Bros

Work highlights

  • Advice to Sacyr Construcción and Sacyr Concesiones in connection with the financing of the design, construction and maintenance of a railway project of two railway lines between Montevideo and Progreso, Uruguay.
  • Advice to the Spanish affiliates of the Adient group as borrowers and guarantors on the debt refinancing of the group.
  • Acted for Finalbion in connection with the c. €407m revolving securitisation of a portfolio of Spanish factoring, reverse factoring and loan receivables originated by Finalbion and held by Finalbion, a Luxembourg securitisation vehicle.

Dentons

Dentons has 'knowledge of the sector and a good reputation', particularly in structured finance and debt restructuring matters. The firm has experience advising on acquisition, leveraged, corporate and project finance, as well as real estate finance and financial regulatory issues. Other areas of work include export and aviation finance. Fintech expert Jesús Mardomingo focuses on corporate, commercial and regulatory issues. He co-leads the team with Jabier Badiola, who advises national and international financial entities, insurance companies, industrial companies and investment funds on a range of matters. Also notable are Fernando Gutiérrez, who specialises in banking and finance law; and counsel Luis Máiz, who handles cross-border syndicated financing transactions.

Practice head(s):

Jesús Mardomingo; Jabier Badiola

Other key lawyers:

Fernando Gutiérrez; Luis Máiz; Ignacio Fernandez

Testimonials

‘Very up to date with the latest market trends and a lot of sensitivity to what banks can or cannot accept, which makes the process very fluid’.

‘Fernando Gutiérrez is very involved and dedicated in the whole process.’

‘A team entirely dedicated to the client; with great knowledge of the sector; focused on the execution of the deals; and extraordinarily directed.’

‘Jabier Badiola and Ignacio Fernandez are available and have empathy with the client.’

‘Communication and management of affairs, with permanent contact with those responsible.’

‘Permanent and immediate availability and extensive knowledge of the subjects.’

‘Absolute availability. Closeness. Empathy with the client. Searching for solutions. Negotiation skills. Knowledge of the sector and a good reputation.’

Key clients

BANCO SANTANDER, S.A.

MEAG MUNICH ERGO ASSET MANAGEMENT

GENERALI AND UNION INVESTMENT GMBH

BE-SPOKE CAPITAL

BANCO COOPERATIVO ESPAÑOL, S.A.

BNP

CAIXABANK AND SUBSIDIARIES ABROAD

INSTITUTO DE CRÉDITO OFICIAL, E.P.E.

ORANGE BANK, SPANISH BRANCH

MAXI MOBILITY SPAIN, S.L.U.

MEDICAL PROPERTIES TRUST INC.

MERCEDES BENZ BANK AG

GRANTIA CAPITAL, SGIIC, S.A.

COMERCIA GLOBAL PAYMENTS

AURIGA SV S.A.

VECTOR RONDA TELEPORT, S.L.

STONEBRIDGE INTERNATIONAL INSURANCE

AMPER, S.A.

CAIXABANK, S.A.

LANA FINTECH INTERNATIONAL S.L

MINISTRY OF ECONOMY AND FINANCE OF REPUBLIC OF ECUADOR

Work highlights

  • Advised Banco Santander on the extension a facility limit up to €1.6bn.
  • Advised a syndicate of banks led by Banco Santander on the debt refinancing of construction company Group Sando.
  • Advised Generali and Union Investment on the acquisition of Puerto Venecia, the biggest shopping mall in Spain, from INTU Zaragoza Holdings.

Herbert Smith Freehills LLP

The 'dedicated, technical and professional' team at Herbert Smith Freehills LLP provides cross-border expertise in private equity, real estate finance and project finance, advising financing institutions, funds and corporates on a range of matters. The firm also has experience in distressed transactions, including sales and investments in secured and unsecured NPL and REO portfolios. Armando García-Mendoza leads the team and specialises in structured finance transactions. Another key name in the area is counsel Jaime Rossi, who joined in 2020 and brings expertise in advising investment funds, financial institutions and corporate borrowers across the spectrum of financing transactions. Gonzalo Martín de Nicolás left the firm in 2019.

Practice head(s):

Armando García-Mendoza

Other key lawyers:

Jaime Rossi

Testimonials

‘The team is very technical, hard-working, treats people well and knows how to negotiate with the client.’

‘The team is always looking for ways to structure new financing methods and is very aware of the news implemented in other geographies.’

‘Good service Involved in the execution of the operation. Attention to detail and coordination with various counterparts.’

‘Good knowledge of their area of ​​expertise.’

‘Cordial, dedicated, technical and professional. Although they were working on other operations at the same time, they have always been available at any time and this has been highly valued internally.’

Key clients

Banco Santander

Natixis

Magnum Industrial Partners

Bankia.

Alantra

Kommunal Kredit

BNP Paribas

Mediobanca- Banca di Credito Finanziario

Société Genérale

Work highlights

  • Advised Cain Investments on a European real estate financing deal involving the acquisition of a 133,000sqm portfolio comprising six office parks in Madrid and two in Barcelona.
  • Advised the governor and company of the Bank of Ireland as arranger, bookrunner, agent and security agent on a financing granted to Ergon Capital for the acquisition of Bidco Palex.
  • Advised Natixis on a complex restructuring transaction involving a loan facilities agreement granted to Healthcare Activos Inmobiliarios group.

Ramón y Cajal Abogados

'Experienced, technically knowledgeable and available', Ramón y Cajal Abogados advises on financial transactions ranging from syndicated bank finance, restructuring and project finance, to asset, acquisition and derivatives finance. The firm also provides expertise in the sales and purchases of debt portfolios, as well as in financial markets regulation. The team is jointly led by Javier Menchén, who represents financial institutions, investment services agencies, regulated entities and management companies; Amado Giménez, who specialises in structured corporate finance operations, acquisitions, bank loan refinancing and the sale of portfolios; regulation and litigation expert Cristina Vidal; and Alfonso Fernández-Miranda, who is head of the firm’s collective investment schemes (CIS) and pension plans and funds departments.

Practice head(s):

Javier Menchén; Amado Giménez; Cristina Vidal; Alfonso Fernández-Miranda

Other key lawyers:

Cándido Pérez

Testimonials

‘Availability and experience.’

‘Demonstrates knowledge of the current situation in the market, and operations from different points of view.’

‘A broad knowledge of the activity, professionalism and accessibility.’

‘Experienced, technically knowledgable and availabile. Demonstrates a broad knowledge of the activity, professionalism, accessibility and a vocation for customer service.’

Key clients

Repsol Foundation (through its social impact investment fund, Repsol Social Impact)

Banco Santander

Bancomext

Natixis

Société Générale

L-GAM Advisers LLP

Grupo BC

Banco Sabadell

Bankia

Gestión Medioambiental De Toledo

Abanca Corporación Bancaria

Grupo Raga

Grupo Redur

INV Group

Grupo Tirso

Kuwait Petroleum

Praxis

Work highlights

  • Advising BANKIA AND INSTITUTO DE CRÉDITO OFICIAL (ICO) on the financing for the construction of the C-415 off-shore ship for offshore wind platforms developed by Astilleros Balenciaga.
  • Advising Seven Bank’s pool (SABADELL, BANKIA, ABANCA, BANKINTER, BBVA, DEUTSCHE BANK, SAE and IBERCAJA) on the refinancing of Grupo Rupama, Signo Editores and Gran Nogal Seguros.
  • Advising Amper on the financing for the acquisition by Amper of a majority stake (65%) in the company Proes Consultores.

CMS Albiñana y Suárez de Lezo

Acting for banks, financial institutions and debtors, CMS Albiñana y Suárez de Lezo has experience in acquisition finance and debt refinancing, as well as real estate and project finance. Abraham Nájera left the firm in August 2020. Guillermo Muñoz-Alonso is now the head of the department.

Freshfields Bruckhaus Deringer

Jones Day

The cross-border specialists at Jones Day have a particular focus on project, leveraged, real estate and distressed finance, as well as being active in derivatives, structured finance and securitisation matters. The practice works closely with the firm’s regulatory, litigation and restructuring teams. Javier López Antón leads the department and advises lenders, underwriters and borrowers on a range of financing issues. Vanessa Armas left the firm in mid-2021.

Practice head(s):

Javier López Antón

Other key lawyers:

Iván Martín-Barbón; Fernando Lillo

Key clients

Banco Bilbao Vizcaya Argentaria (BBVA)

Banco Sabadell, S.A.

Banco Santander, S.A.

Bankia, S.A.

Logicalis Group Limited

Aberdeen Infrastructure

CBRE Global Investors

Portobello Capital

Alantra

Sacyr

Banca IMI

Work highlights

  • Advised Banco Santander, as agent, in the long-term financing provided to Vector Ronda Teleport, a chauffeur service provider.
  • Advised Portobello Capital Gestion on the acquisition and related financing of BT España Compañía de Servicios Globales de Telecomunicaciones.
  • Advised Sacyr Group in the long-term project financing provided by a syndicate of major financial institutions led by Deutsche Bank AG, New York Branch and JPMorgan Chase Bank.

King & Wood Mallesons

Representing lenders and borrowers, King & Wood Mallesons is a ‘highly qualified law firm in the field of financial and banking law’. The firm handles acquisition, structured and asset-backed finance transactions, with particular expertise in renewable energy projects. Clients include international and Spanish banks, renewable energy companies and private equity firms. Joaquín Sales leads the team and focuses on project, acquisition, corporate and asset finance, as well as providing experience in structured finance transactions and securitisation deals.

Practice head(s):

Joaquín Sales

Other key lawyers:

María Redondo

Testimonials

‘The team is very experienced, is close to the client and their advice is always of added value.’

‘Joaquín Sales is an experienced lawyer with a privileged mind for the law.’

‘KWM is a highly qualified law firm in the field of financial and banking law.’ 

Key clients

European Investment Bank

CaixaBank

Hispasat

VM Energía

Finerge

Arcano

Capza

Portobello Capital

Galp

KKR Asia Limited

Work highlights

  • Provided advice to the European Investment Bank on a risk sharing transaction with BBVA to mitigate credit risk and facilitate financing to SMEs. Deal value: €300m.
  • Advised private equity firm Arcano on the setting up of the structure for the implementation of an operational agreement with the European Investment Bank, including a Spanish venture capital fund.
  • Advised Portuguese energy company Galp on the finance issues related with the €2.2bn cross-border acquisition of the solar photovoltaic business of ACS Group in Spain.

ONTIER

ONTIER provides not only legal but 'economic, financial, accounting and market knowledge’ in the banking and finance area. The firm has particular expertise in corporate financing, debt refinancing and venture debt issues, as well as advising international banks on a range of cross-border transactions. Finance and capital markets specialist Ramón Ruiz de la Torre Esporrín leads the practice.

Practice head(s):

Ramón Ruiz de la Torre Esporrín

Other key lawyers:

Alberto Manzanares

Testimonials

‘A high degree of technical knowledge as well as a great ability to resolve novel aspects of financing contracts.’

‘They have everything we’ve ever needed.’

‘The relationship with the assigned partner is very fluid and trustworthy.’

‘Empathy, professionalism and solid knowledge.’

‘Experts on the subject, if a novel point arises or not known in depth, they manifest it, investigate it and always solve it in the best way in very short times, so they do not affect progress in the business.’

‘Their kindness, honesty, preparation and professionalism, coupled with the best dealings between equals.’

‘Solid economic, financial, accounting and market knowledge, not only legal.’

Key clients

Ride On Consulting, S.L.

Banco De Sabadell, S.A.

Transportes Boyaca, S.L.

HCEJEL Renovables, S.L.

Santa Lucía Compañía de Seguros y Reaseguros, S.A.

Inelectra S.A.

Fondo De Garantía de Depósitos De Entidades De Crédito

CIFI LATAM, S.A.

Work highlights

  • Acting for FGD on a bridge loan with a syndicate of seven banks (Banco Santander, BBVA, Banco Cooperativo Español, Banco de Sabadell, BANKIA, CAIXABANK and CECABANK) on a corporative loan.
  • Acting for the syndicate of banks in the refinancing of Grupo WAMOS and the provision of new financing under the Gurantee Line created by the Spanish Government to guarantee the liquidity of companies and self-employed workers affected by Covid-19.
  • Acting for the group of companies of Transportes Boyacá on the refinancing of its banking debt with a pool of eight Spanish banks and the subsequent new financing.

White & Case LLP

Known for its UK, US and Spanish banking and finance capabilities, White & Case LLP acts on lender, borrower and sponsor-side transactions. The practice is assisted by the firm’s global innovation, knowledge and technology committee (iKTC), which focuses on developing legal tech applications and digital strategy. Fernando Navarro leads the team and handles a range of financing transactions through syndicated and bilateral loans, acting for lenders and borrowers. Derivatives, structured products, securitisation and DCM matters also feature in the team's workload.

Practice head(s):

Fernando Navarro

Other key lawyers:

Juan Manuel de Remedios; Yoko Takagi

Key clients

Banco Santander

Bank of America Merrill Lynch

Deutsche Bank

LCM Partners Limited

BBAM Aircraft Management LP

SG Equipment Finance Iberia, E.F.C., S.A.

Vauxhall Lending S.L.

Legris Industries

Verallia SA

Erste Group Bank AG

Work highlights

  • Represented Banco Santander Chile in connection with a credit agreement governed by the laws of the State of New York, entered into by, among others, Acciona Financiación Filiales Chile, as Borrower and Acciona, as Guarantor.
  • Represented LCM Partners Limited in connection with a financial lease over industrial machinery in Spain.
  • Representing Verallia as guarantor on the signing of an SFA from the Spanish law perspective.

Araoz & Rueda

The 'professional' and 'efficient’ team at Araoz & Rueda advises on a range of finance matters, including corporate, structured, acquisition, project and real estate. As well as providing regulatory expertise, the firm is strong in syndicated financing, debt restructuring, distressed debt issues and litigation in the area. ‘Standout’ partner Rafael Bazán leads the practice and has ‘provided top quality advice for years', particularly in the acquisition and sale of NPLs, REOs and asset portfolios.

Practice head(s):

Rafael Bazán

Other key lawyers:

Javier Sánchez; Alejandro Fernández de Araoz

Testimonials

‘Araoz and Rueda is knowledgable, provides swift responses, is dedicated and proactive.’

‘Experience and technical knowledge in the operations that are entrusted to them. Also important is the availability and accessibility of team members.’

‘General knowledge, in addition to being a specialist in the banking business and its regulation.’

‘Alejandro Fernández de Araoz and Rafael Bazán have contributed both their experience and knowledge of the matters they had to deal with as well as high availability and a great capacity for adaptation and problem solving.’

‘Superb knowledge and profile.’

‘Most reliable. Would recommend Araoz & Rueda any day of the week.’

‘Most professional, friendly, efficient.’

‘Rafa Bazan is a stand out partner who has provided top quality advice for years.’

Key clients

Sofitec Aero

Caja Rural del Sur

Kartesia

Everwood Capital

Everge Financing

Caixabank

Caixa Geral de Depósitos

LCM Partners Limited

B2 Holdings

Capza

Frans Bonhomme Group

Molecor Tecnología

Metal Exchange Corporation

Small World FS

Work highlights

  • Advice to Caixa Geral de Depósitos on the sale of a portfolio of mortgage loans and REOs by Banco Caixa Geral and Caixa Geral de Depósitos, Sucursal en España, respectively.
  • Advice to Kartesia on the uni-tranche financing to finance the acquisition by Comfica Soluciones Integrales of the branch of activity of the company Liteyca relating to certain contracts with Telefónica.
  • Advice to seven financial institutions on the refinancing of debt of Grupo Congelados de Navarra, a leading frozen food company with five industrial plants.

BROSETA Abogados

BROSETA Abogados stands out for its range of experience in banking regulatory advice and finance transactions; it has particular expertise in refinancings and real estate finance. Acting primarily for lenders, another of the firm's key strengths is in work involving Latin American jurisdictions. Antonio Navarro leads the team and specialises in banking, commercial and international law.

Roca Junyent

Advising both borrowers and lenders, Roca Junyent has expertise in investment funds and alternative financing, as well as a range of transactional and regulatory matters. The firm also provides experience in the growing areas of fintech and blockchain. Pablo Rodríguez focuses on syndicated financing transactions, direct lending, securitisation, restructuring and secondary debt market issues. He co-leads the team with Xavier Foz Giralt, who advises national and international credit entities and corporations in finance transactions, including acquisition finance and project finance.

Practice head(s):

Pablo Rodríguez; Xavier Foz Giralt

Testimonials

‘The lawyers are highly qualified and responsive, including in matters of banking supervisory law.’

‘It has been a pleasure working with Xavier Foz in a crossborder matter. We appreciated not only his work but also his flexibility and responsiveness.’

‘Pablo Rodriguez is an outstanding finance expert because he is right to the point, understands the client needs (not only legally, but most importantly, commercially) and delivers his advice with the required service mentality.’

Key clients

Institut Català de Finances (ICF)

Caixabank

Viva Credit

Unicredit AG

Commerzbank AG

BBVA

Banco Santander

Banco Sabadell

Deustche Bank – Postbank

Solaris Bank

Work highlights

  • Provided legal advice to Euromezzanine / Sagard in relation to the financing for the acquisition of the Safic Alcan group.
  • Advised Solaris Bank regarding the regulatory analysis of its activity in Spain.
  • Provided legal advice to Viva Credit regarding the regulatory aspects of the setting-up of the operations of this leading Romanian consumer credit finance platform in Spain under the brand Movinero.

Simmons & Simmons

The ‘excellent team’ at Simmons & Simmons focuses on refinancing, debt restructuring, acquisition finance, real estate finance and distressed debt trading. The practice is particularly active in the secondary trading of distressed and non-distressed syndicated loans, as well as in asset management and investment funds work. The team is co-led by Álvaro Muñoz, who focuses on debt restructuring transactions and the distressed debt market; María Tomillo, who is head of the firm’s financial services and markets regulation practice; and dept capital markets expert Alfredo de Lorenzo.

Practice head(s):

Álvaro Muñoz; Alfredo de Lorenzo; María Tomillo

Testimonials

‘Excellent team.’

Bird & Bird

Bird & Bird has ‘experience of dealing with regulatory, enforcement and corporate governance issues', particularly in the fintech area. The firm focuses on compliance, regulatory work, structured finance, receivables and distressed portfolio sales, as well as sport and aviation finance. José Luis Lorente Howell leads the team and has broad expertise in domestic and international financing.

Practice head(s):

José Luis Lorente Howell

Other key lawyers:

Elena Martinez Arce; Adrián Calvo

Testimonials

‘Great knowledge of the payment services market and Fintech in general. It is difficult to find prestigious law firms that are fully familiar with and up-to-date with Fintech.’

‘Adrián Calvo has deep commercial knowledge and an ability to see matters as business problems and seek excellent and creative legal solutions.’

‘Jose-Luis Lorente Howell and Elena Martinez Arce did a great job representing us. Not only did they show great competence, but they also interacted very well with our customer.’

‘I think it is a very competent practice, that has much experience of dealing with the type of regulatory, enforcement and corporate governance issues.’

Key clients

TECHSTYLE, INC

FIDUCIAM NOMINEES LTD.

MEDIOLANUM GROUP

BANCO SANTANDER, S.A.

BMO HARRIS BANK N.A.

EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT

UNICREDIT LEASING GMBH

QUARTIERS PROPERTIES AB (PUBL)

Amadeus IT Group

Euro 6000

SANTANDER ESPAÑA MERCHANT SERVICES

EURO AUTOMATIC CASH (EAC)

BNEXT

OPEN BANK, S.A.

RENOVALIA ENERGY GROUP, S.L.

Work highlights

  • Provided recurrent legal assistance to TechStyle, Inc and its Spanish subsidiary in different stages of its refinancing process.
  • Advises FIDUCIAM NOMINEES LTD on projects in Spain. The work includes the drafting and negotiation of the facility agreement and the implementation of the security scheme.
  • Advising companies of the Mediolanum Group, providing a wide scope of advice which includes assistance in relation to insurance regulatory compliance and insurance contracts related to several investment insurance based-products.

Cases&Lacambra

Advising on special situations, the financial sector and financial markets regulation, Cases&Lacambra also handles cross-border disputes in the sector. The firm has experience acting for foreign financial institutions in multi-jurisdictional deals with local entities in derivatives and structured products. Managing partner Miguel Cases is qualified to practice in Spain and Andorra. He co-leads the team with Toni Barios, who advises on a range of domestic and international financing and debt restructuring transactions, including bilateral and syndicated matters. The firm's Madrid office was strengthened by the 2020 addition of financial and energy markets expert Ignacio Ramos, while Laura Nieto was appointed partner in the Andorra office in 2021.

Practice head(s):

Miguel Cases; Toni Barios

Other key lawyers:

Araceli Leyva; Ignacio Ramos

Testimonials

‘Their specialization in the financial sector and the direct contact of partners with the client provides them with a differential value with other firms.’

‘Araceli Leyva is a lawyer with solid knowledge of the financial market and with a great practical experience.’

‘Miguel Cases as managing partner brings together a group of professionals who act in a cohesive manner.’

Deloitte Legal

Combining 'professionalism, technical knowledge and seriousness', Deloitte Legal handles a range of banking, finance and restructuring matters. The firm has particular strength in financial regulation, and has launched Regulatory Space, an online tool to track financial regulation developments. Francisco Ramírez Arbués leads the team and specialises in implementation projects related to new regulation and banking products regulation. The practice was boosted by the arrivals of María Guinot, who joined from another law firm in 2019 and brings experience in finance, public law, regulation and litigation, and financial regulation expert Manuel Gómez Gilabert, who joined from Sareb in 2020.

Practice head(s):

Francisco Ramírez Arbués

Other key lawyers:

María Guinot; Manuel Gómez Gilabert

Testimonials

‘Rigorous compliance with deadlines, courtesy and kindness in dealing with clients, an enormous capacity to adapt to the client, and the outstanding leadership of the department partner, to achieve optimal team work.’

‘The strengths of the Deloitte team of lawyers is their availability and knowledge of the regulations and needs of credit institutions. This means that with very little information they can provide a very correct first answer.’

‘Combines efficiency and commitment with high professionalism, technical knowledge and seriousness.’

‘In my opinion of Deloitte Legal’s banking and financial regulatory area is excellent.’ 

‘My professional experience with Francisco Ramírez Arbués is extraordinary. In addition to his high technical knowledge and experience in the field, his brilliance in the analysis of legal issues is particularly noteworthy.’

‘A capacity to provide the best solutions with great pragmatism.’

‘Industry knowledge, good preparation, team background and experience.’

‘Good support during the lockdown.’

Key clients

OPENBANK

ING

AMERICAN EXPRESS

UNICAJA

DEUTSCHE BANK

ING

OPENBANK

BANKIA

TRIODOS BANK

TREA ASSET MANAGEMENT (“TREAAM”)

PAGANTIS

ONEY FINANCIAL SERVICES

AMERICAN EXPRESS

MORABANC

BANCO INVERSIS

NOVOBANCO GESTION

CECABANK

FORSO NORDIC AB

Work highlights

  • Advised Openbank on the international expansion of the bank to Portugal, the Netherlands, Germany, Italy and other EU jurisdictions.
  • Advised ING BANK NV in the assessment of the regulatory and tax implications of the implementation of a model bank structure at EU level.
  • Advising Deutsche Bank, Unicaja, Openbank, American Express and other financial institutions on their digital transformation, including supporting their business, legal and compliance areas to redesign new digital contractual processes (especially for mortgages, loans and payment products).

KPMG Abogados, Spain

The ‘very technically prepared and experiencedKPMG Abogados, Spain has substantial expertise in asset finance transactions and regulation, including compliance, corporate governance and investor protection issues, and the team is well versed in cross-border matters. Blockchain and fintech are additional areas of strength. The team is led by Francisco Uría Fernández, Pilar Galán Gavilá, Alfonso González-Espejo, Javier Bau Cabestany and Luis Fernández Santos.

Practice head(s):

Francisco Uría Fernández; Pilar Galán Gavilá; Alfonso González-Espejo; Javier Bau Cabestany; Luis Fernández Santos

Testimonials

‘It is a highly prestigious law firm worldwide and its ability to respond to the questions posed to it is very high.’

‘Good team, available and empathetic.’

‘Knowledge, speed of responses and great knowledge of the financial market.’

‘The multidisciplinary approach, empathy and willingness of the KPMG team have been very relevant in the authorization process we are carrying out.’

‘The dedication, knowledge and commitment of Pilar Galán Gavilá, as well as the effort and tenacity of José Luis Millán, are highly remarkable.’

‘A team very technically prepared and experienced.’

Key clients

Banco Santander, S.A.

Banco Cooperativo Español

BNP Paribas S.A., Sucursal en España

Cecabank, S.A.

Credit Suisse AG, Sucursal en España

Santander Consumer Finance, S.A.

Sigrun Partners, S.L.

JB Capital Markets, Sociedad de Valores, S.A.

Digital Virgo, S.A.

United Europhil, EP, S.A.

Social Network Loycus, S.L.

Mediolanum Banco, S.A.

Bankinter,S.A.

Work highlights

  • Advised Santander Consumer Finance on the renegotiation and re-papering of the derivative agreements and collaterals of the entity and subsidiaries under the requirement set out in article 11.3 of Regulation (EU) 648/2012.
  • Advised Banco Santander on the structuring and implementation of a financing transaction for the acquisition and lease of an Airbus A330neo to a major Portuguese Airline.
  • Advised Banco Santander on the review and implementation of the Law 5/2019, on real estate credit agreements.

Andersen

The Andersen team provides ‘excellent dedication’ in corporate finance operations, acquisitions, project finance and structured finance matters. The firm has particular strength in financial regulation and fintech matters. Guillermo Yuste has expertise advising on a range of financial issues, including trade, acquisition, syndicated and project financing. He co-leads the practice with Carlos Salinas, who specialises in corporate finance and debt restructuring.

Practice head(s):

Guillermo Yuste; Carlos Salinas

Testimonials

‘All the offices are updated on legislative developments, and all the offices with which we work are equipped at a technological level.’

‘For a team that works in circumstances that are normally quite stressful and complex, having clear, concrete and concise advice is a great support.’

‘What differentiates this firm is the closeness to the partner, the dedication and involvement of each lawyer.’

‘They all get involved and make you feel like the firm’s most important client.’

‘360 service and attention, with excellent coordination with international teams.’

‘The dedication in this area is excellent.’

Key clients

Stahler Real Estate

ANKASONS PROPERTY

NOVO BANCO

Avanzalia Solar, S.A.

FAMAR GROUP

KGAL GROUP

GRUPO INVERSOR HESPERIA

CAIXABANK

IBERIA CARDS, EFC, S.A.

CORPORACIÓN HABANOS

SMALL WORLD. S.A.

SUITAPREST

ATLAN

VIVECREDIT

Santander InnoVentures

Work highlights

  • Advising eight leading Spanish bank entities in the refinancing debt of SCTYL.
  • Advising Stahler Barcelona Suites on a legal and tax perspective, in all phases and aspects of a hotel project in Barcelona area.
  • Provided legal and regulatory ongoing advice to Iberia Cards regarding PSD2 and specific local payments regulation.

ECIJA

With ‘deep knowledge of financial and technological businesses’, ECIJA specialises in fintech and financial regulation. The firm has experience advising on crowdfunding, initial coin offerings, open banking, blockchain and cryptocurrencies. Key names in the team are María González, Alonso Hurtado, Magdalena Bertram, Cristina Villasante and Daniel López Carballo.

Other key lawyers:

María González; Alonso Hurtado; Magdalena Bertram; Cristina Villasante; Daniel López Carballo

Testimonials

‘They are very good specialists and the treatment is excellent.’

‘ECIJA fully understands the needs and concerns of its clients and that makes working with them easier.’

‘They are well dimensioned to cover all aspects related to our needs and well organized when working as a team.’

‘Due to their specific knowledge of financial and banking law, among other areas, and due to the fact that they know the latest market practices, they analyze the issues in a complete way and provide us with innovative solutions.’

‘ECIJA has a team specialized in Fintech and Banking of the first level, which has extensive legal knowledge, always managing to provide innovative solutions to the challenges that a deeply regulated sector like this poses.’

‘Special mention for María González.’

‘Without a doubt, it is our first option as legal advisors specialized in Fintech, Banking and Technology, both for legal and business knowledge, and for being one of the most competitive firms from the point of view of fees.’

‘The highest knowledge of the technological and financial market.’

Key clients

Santander Bank

American Express

ING

Bnext

Bank of Portugal

Bank of Spain

Adventureros PFP

SAP Concur

Signaturit

RCI Bank

VWFS – Volkswagen Financial Services

Bankia

AndBank

Banco Pichincha

Arquia Bank

Hoist Finance

Bankinter

Work highlights

  • Advised ING on adapting its mobile payment application Twyp to the new Payment Services Directive 2015/2366.
  • Advised SAP Concur on the adaptation and homologation process of its fintech solution for the digitalisation and accounting of company expenses in all European Union countries.
  • Advised the National Central Bank of Spain on the adaptation to the Regulation (EU) 2016/679 of the European Parliament and the Council of 27 April 2016 ( GDPR).

Eversheds Sutherland

The highly regarded banking and finance team at Eversheds Sutherland is active in asset-based lending, real estate finance and regulatory advice. The firm is known for assisting foreign banks in financing cross-border transactions, particularly corporations with subsidiaries in Spain. Counsel Teresa Villarroya Vargas leads the team and handles a range of financing matters, notably project and asset finance.

Practice head(s):

Teresa Villarroya Vargas

Other key lawyers:

Vicente Arias

Testimonials

‘Knowledge of the business and of the management team of our company, which makes your attention 100% personalized.’

‘They are clear in their approaches and reports, almost pedagogical, which is very useful for reporting to boards of directors and to the parent company.’

‘Their collaboration is 10 out of 10, and the diversity of very high-level professionals in other subjects is excellent.’

‘Technical knowledge may be available to other firms, its application to reality is something else, the ability to communicate very complex issues in a simple way, the speed in proposing solutions and alternatives and the strength of their positions, telling the truth regardless of what the customer wants to hear.’

‘Special mention to Teresa Villarroya and Vicente Arias.’

‘A balanced team that gives a practical perspective to their legal advice, who care about closing the matter and empathize with the client’s needs.’

Reactive, decisive and friendly.

Key clients

Goal Systems

GED Capital Fund

Unicredit

Temprano Capital Partners

VIVA GYM GROUP

Northgate

Tradition and Securities

Work highlights

  • Advising Goal Systems and its shareholders on the financing of the company for the development of its expansion strategy business plan.
  • Advising GED Fund and Procubitos, an ice cube manufacturer and distributor, on the purchase of the shares of Cubimadrid.
  • Advising WP Carey and Temprano Capital on a refinancing of the financing agreement for the acquisition of a shopping mall for Banco Sabadell,  and the standard security package to this kind of transaction.

EY Abogados

EY Abogados is noted for its ‘100% commitment to providing optimal service’ and its ‘great flexibility and agility'. The firm represents lenders and borrowers in a range of domestic and cross-border acquisition finance, refinancing and receivables finance matters. Other areas of expertise include real estate, travel and leisure, as well as financial regulatory and compliance issues. Practice head Gonzalo Martín de Nicolás advises banks, alternative lenders, borrowers and sponsors on the structure and implementation of finance transactions.

Practice head(s):

Gonzalo Martín de Nicolás

Testimonials

‘They are very practical in negotiations and very efficient in managing documentation.’

‘A lot of experience and a lot of knowledge, flexibility and quick responses.’

‘There is a mutual trust based on the impeccable advice they provide.’

‘The dedication of the team is unbeatable.’

‘They are great experts in their respective matters and the name of the firm and teams confer great legal security both internally and externally.’

‘The size of the office allows us to respond to different areas in the different countries with which my entity works.’

‘100% commitment to providing optimal service.’

Great flexibility and agility.’

Key clients

Azaria Rental SOCIMI

Banco Santander

IBA Capital Partners

Incus Capital

Reden Solar

Abac Capital

Abanca Corporación Bancaria

Miura Private Equity

Nexxus Iberia

Resilience Partners

Work highlights

  • Advising Mast Investments, (a vehicle managed by Incus Capital), as lender, in the €28m financing to Greenalia Power Spain to meet its project development investment needs.
  • Advising Azaria Rental SOCIMI and its subsidiaries on the financing granted by VTB Bank (Europe) to refinance certain indebtedness of Azaria’s subsidiaries and finance the corporate reorganisation of Azaria and its subsidiaries, among other areas.
  • Advising Trebol Core Properties (a vehicle managed by IBA Capital Partners) in the financing granted by Banco Santander and PostBank to finance the acquisition of a commercial building in Barcelona.

Osborne Clarke

The 'technically highly prepared and cohesive’ team at Osborne Clarke acts for financial entities, borrowers and investment funds in corporate, project, acquisition and asset finance. As well as being active in payment and fintech matters, the firm is particularly strong in complex transactions related to the life sciences, renewable energy, real estate and digital business sectors. The highly regarded Eduard Arruga leads the team and focuses on debt finance and restructuring, with a range of experience in leveraged lending and real estate finance.

Practice head(s):

Eduard Arruga

Testimonials

‘The understanding of the client’s business, needs and opportunities makes Osborne Clarke Spain Finance practice totally unique.’

‘Mixed with the full availability of all of its members, it provides full comfort to the client and our staff.’

‘In terms of technology, Osborne Clarke is clearly on top of legal firms, offering different alternatives for collaboration and interaction with client.’

‘Eduard Arruga is absolutely devoted to us, having full understanding of our business and collaborating smoothly with our staff. He delivers prompt and exceptional legal and commercial tailored to our particular nuances, helping us in achieving our goals.’

‘As a client we have always felt very well advised and protected.’

‘Without any doubt it is the most powerful and efficient team I have worked with throughout my professional career. They are well above the technical capacity, dedication and contribution of solutions than other firms.’

‘Eduard Arruga stands out in: legal knowledge, ability and flexibility.’

‘Eduard is fully integrated into the structure of his client’s company. He stands out in technical qualities, dedication and negotiating solvency. He has an important didactic vocation with which the client and team learn.’

Key clients

GRIFOLS

NOVO BANCO

QUINTAS ENERGY

BANCO SABADELL

SIERRA 10

XIOR STUDENT HOUSING

EXCELLENCE GROUP

Work highlights

  • Advising GRIFOLS in connection with the group refinancing; the transaction closed in less than one month.
  • Advising QUINTAS ENERGY in connection with the first green bond issue for PV plants in Spain.
  • Advising BECORP in connection with the financing framework agreement for the built-to-rent programme in the region of Barcelona.

Pinsent Masons LLP

Pinsent Masons LLP’s team has ‘great experience in the field and gives very complete, personal and high-quality advice' in banking and finance matters. The firm represents borrowers and lenders in a range of transactions, including corporate, project, acquisition and structured finance. The practice has particular expertise in fintech, providing ‘innovation in everything related to new currencies or payment methods'. Idoya Arteagabeitia leads the team and specialises in banking, finance and fintech work, as well as domestic and international debt financing and restructuring.

Practice head(s):

Idoya Arteagabeitia

Other key lawyers:

Jacobo Otero Moyano; Mar Cabrera Chicharro

Testimonials

‘Flexibility and adaptation in terms of dedication, meeting dates, quality of advice.’

‘What makes them better is the great experience of each of their lawyers and the degree of dedication they give to your operation.’

‘Idoya Arteagabeitia gets into operations from the first moment and supervises them with detail they deserve.’

‘They have also shown themselves to be fully up to date on green and sustainable energy issues by providing good green loan advice.’

‘Proactivity, commitment to long-term professional relationships, not just short-term income, very personalized treatment, absolute commitment and great human quality.’

‘Very complementary knowledge between the different partners to offer comprehensive advice.’

‘They are a very innovative firm in everything that refers to new currencies or payment methods.’ 

‘They have a team with great experience in the field and gives very complete, personal and high-quality advice.’

Key clients

Instituto de Crédito Oficial

Ellomay Capital Ltd

Banco Santander, S.A.

Banco de Sabadell, S.A.

CaixaBank, S.A.

Accurate Quant Av, S.A

ChangetheBlock

Desyphos, S.L.

Climate Blockchain Initiatives, S.L.

Criptan Trade, S.L.

Out Of Office Games, S.L.

Ripio Holding Ltd.

Compañía Española de Financiación del Desarrollo

Housers Global Properties PFP, S.L.

Work highlights

  • Advised ICO (Instituto de Crédito Oficial) and Compañía Española de Financiación del Desarrollo (COFIDES) on both restructuring agreements of Camanica (Nueva Pescanova group) and the amendment and ratification of the mortgages in Spain and Nicaragua.
  • Advising the lenders on the syndicated financing agreement in favour of Hermanos Gandón and related guarantees and securities.
  • Partnership with the Spanish Association of FinTech and InsurTech in the drafting of the WealthTech White Paper.

Squire Patton Boggs

Known for its expertise in debt refinancing and loan workouts, Squire Patton Boggs acts for local and international banks, as well as debt funds, in a range of issues. The firm also advises on direct lending and asset-based lending matters, including cross-border, pan-European receivables purchases and factoring transactions. The team is co-led by Manuel Mingot, who is experienced in advising banks, debt funds, sponsors and developers; corporate finance specialist Antonio Cañadas; and UK-based Tomas Cerdan, who assists Spanish corporates in financing transactions governed by English law.

Practice head(s):

Manuel Mingot; Antonio Cañadas; Tomas Cerdan

Testimonials

‘SPB provides ongoing comprehensive local Spanish law advice (including tax) in the context of pan European factoring Programmes.’

‘SPB provides high calibre legal advice conforming to the highest standards which we feel comfortable relying on.’

Key clients

BBVA

HIG CAPITAL and HIG Whitehorse

PNC Bank, N.A.

BANCO SABADELL

BANKIA

RAIFFEISEN BANK

HYPERION MATERIALS & TECHNOLOGY Inc.

APOLLO MANAGEMENT INTERNATIONAL

BNP COMMERCIAL FINANCE

Work highlights

  • Advised PNC Bank, as arranger bank, agent and security agent, together with four other lenders as the lenders’ counsel in the novation, amendment and subsequent refinancing of a NY law senior secured syndicated revolving credit facility granted to Ferroglobe PLC.
  • Advised Sabadell (as agent bank), BBVA and Caixabank as lenders’ counsel in the debt refinancing of a senior secured loan facility granted to Altan Pharmaceuticals.
  • Advising Apollo Management International LLP as lender’s counsel in relation to a credit facility to the Celsa Group.

Watson Farley & Williams LLP

'A benchmark office in Spain today to finance energy projects', Watson Farley & Williams LLP has expertise in acquisition, asset, real estate and project finance. Trade and export finance transactions also feature. Rodrigo Berasategui advises public and private developers, sponsors, financial institutions, multinational institutions, insurers and specialised funds on financing schemes, particularly renewable assets work.

Practice head(s):

Rodrigo Berasategui

Other key lawyers:

Antonio Cáneva

Testimonials

Great experience and knowledge in the renewable energy sector.’

‘Versatile and rigorous.

‘It is a benchmark office in Spain today to finance energy projects.’

‘Very knowledgeable about the assets on which they make the transactions, they have everything at a technological level and there is gender diversity in their teams.’

‘Resourceful team capable of working on multiple relevant mandates simultaneously.’

‘Rodrigo Berasategui has great experience and commercial vision.’

‘Antonio Cáneva is very rigorous and with previous experience in other types of financing, which is useful when looking for solutions other than those usual in project finance.’

‘Very constructive in the negotiations, they work with several jurisdictions.’

Key clients

Naturgy

Compañía Española de Financiación del Desarrollo (Cofides)

Kartesia

Novo Banco

Banco Santander

BBVA

Natixis

CaixaBank

Banco Sabadell

CA-CIB

Edmond de Rothschild

Work highlights

  • Advised Naturgy Renovables on the green financing granted by BBVA and CaixaBank.
  • Advised (CIP) on the financing of the Monegros portfolio, comprising twelve wind farms located in Los Monegros (Aragón), with a total capacity of 487 MW.
  • Advising Sonnedix on a mezzanine financing backed by three underlying Spanish PV portfolioscomposed by more than 60 plants and with a 153.9 MW total capacity.