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Capital markets: Debt

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A&O Shearman

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A&O Shearman’s debt capital markets team offers Spanish and English law expertise to issuers and underwriters on a broad range of mandates, including standalone bond issuances, debt programmes, hybrid capital, derivatives, securitisations, and structured finance transactions. The practice is jointly led by Salvador Ruiz Bachs, a seasoned expert in the full range of DCM work, and English law-qualified Charles Poole-Warren, a key figure for sophisticated debt offerings across Iberia, and Ignacio Ruiz-Cámara, who brings notable expertise in covered bonds and securitisations. The latter is a key area of activity for Alfonso Gutiérrez. Alvaro Rojo contributes significant experience in green bonds, hybrid instruments, and commercial paper programmes. Cristina Pablo-Romero is no longer at the firm.

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Key clients

  • Banco Santander
  • CaixaBank
  • Banco Sabadell
  • Citigroup
  • Goldman Sachs
  • BNP Paribas
  • Goldman Sachs
  • Morgan Stanley
  • JP Morgan
  • HSBC Continental Europe (HSBC)
  • European Investment Bank

Work highlights

  • Advised CaixaBank on its first synthetic securitisation using a Spanish securitisation fund (fondo de titulización) over a protected portfolio of €2bn and on the issuance of credit linked notes for an amount of €140m.
  • Advised J.P. Morgan on the subscription of certain derivative transactions with Escribano Mechanical and Engineering in the framework of the recent increase by the latter of its stake in IndraSistemas up to 8 per cent.
  • Advised BNP Paribas and Banco Santander as Arrangers and Join Lead Managers on the securitisation of mortgage loans originated by UCI, Unión de Créditos Inmobiliarios for a value of € 490m being the Class A Notes and the Class B Notes designated as “Green Bonds” (Secured Green Standard Bonds) in accordance with the ICMA Green Bond Principles.

Lawyers

Leading associates
Leading associates with regular involvement in their team's key work, and recognition from peers or clients as being ones to watch.
Alvaro Rojo
A&O Shearman
Alfonso Gutiérrez
A&O Shearman
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Charles Poole-Warren
A&O Shearman
Ignacio Ruiz-Cámara
Hall of fameA&O Shearman
Salvador Ruiz Bachs
A&O Shearman

Practice head

The lawyer(s) leading their teams.

Ignacio Ruiz-Cámara, Charles Poole-Warren, Salvador Ruiz Bachs

Other key lawyers

Alfonso Gutiérrez, Álvaro Rojo, Lázaro García, Ana García