Clifford Chance is home to ‘a top-level debt capital markets team in Spain’, which excels in the entire spectrum of DCM matters, including secured and unsecured standalone bond issuances, hybrid securities, convertible and exchangeable bonds as well as EMTN and ECP programmes. With in-depth expertise in structured finance products and foreign securitisation vehicles, the practice is a popular choice for domestic originators, securitisation managing companies, investment managers and international arrangers engaged in complex, and oftentimes novel, securitisations. Eduardo García, who heads up the global financial markets practice, and José Manuel Cuenca are notably experienced in structured debt and securitisations. Antonio Henríquez often handles ECM and DCM matters, notably hybrid capital and convertible bond issues, while Jesús Quesada is noted for his expertise in structured finance and securitisations. Other noteworthy individuals include counsel Leonardo Fernández, ‘a trusted adviser’ for structured finance deals, and senior associate Francisco Pizarro. Yolanda Azanza is no longer at the firm.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

‘Quick response to unforeseen events, total availability, and human quality. Antonio Henriquez and Francisco Pizarro are recommended.’
‘The team is very knowledgeable and up to date with recent market developments. Their approach is client-based and they are able to adapt to specific needs of their clients. ’
‘Leonardo Fernández is an exceptional lawyer and a trusted adviser through all stages of the transaction. His communication with other transaction participants is exceptional. He understands the importance of getting the deal done.’
‘Clifford Chance has a top-level debt capital markets team in Spain. Their advice is always timely and high quality.’
‘We value the depth of knowledge that the team has with respect to the market. They are able and willing to offer views on what is a market approach and where there is no consensus around a market approach. The team also has very good working relationships with the other law firms in the area which is helpful when issues arise that need to be talked through. ’
‘José Manuel Cuenca and Leonardo Fernández provide a lot of peace of mind in transactions, not only because of their great experience but because of their high level of professionalism.’
‘The Global Financial Markets team at Clifford Chance Madrid stands out as it offers a specialised service that adapts to the interests of its clients. They know what their clients need and want, and use cutting-edge technological tools that help them provide the best advice.’
‘Jesús Quesada is an excellent professional, he provides agile and brilliant answers to the most complicated technical questions. Having him as an adviser is always a guarantee of success. Likewise, he is well valued and respected by his professional colleagues.'

Key clients

Banco Santander
Banco Bilbao Vizcaya Argentaria
Caixabank
Citigroup
Credit Agricole CIB
HSCBC
Morgan Stanley
J.P. Morgan
Deutsche Bank
European Investment Bank
MedVida
Redeia
Enagás
ACS Group
Corporación Andina de Fomento
Kingdom of Spain
Blackstone
Nomura
Kroll Bond Rating Agency

Work highlights

Advised the Managers on English and Spanish law in connection with the issue by Redeia (Red Eléctrica Corporación, S.A.) of €500m 5.5 Year Non-Call Undated Deeply Subsordinated Reset Rate Securities.
Advised Banco Santander on the incorporation of the synthetic Spanish €3bn securitisation fund "Fondo de Titulización Magdalena 6" and issuing Portfolio Credit Linked Notes for €223.5m.
Advised J.P. Morgan as a hedge counterparty in connection with FC Barcelona’s €1.45bn financing relating to the redevelopment of the Espai Barca (and related financing transactions), structured by means of the incorporation of a Spanish private securitisation fund.

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José Manuel Cuenca

Hall of fameClifford Chance LLP

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