A&O Shearman boasts one of Spain’s top banking and finance teams, offering a broad spectrum of services to international banks and leading financial institutions engaged in large-scale financing transactions, from acquisition to project finance. Ignacio Ruiz-Cámara brings a wealth of experience across all areas of banking and finance, with particular expertise in leveraged finance, restructuring, and transactions within the infrastructure sector. Juan Hormaechea is a recognised leader in structured finance, acquisition finance, and equity derivatives, while Jimena Urretavizcaya has recently advised on numerous project finance deals in the renewables and LNG sectors. Salvador Ruiz Bachs is highly regarded for his expertise in financial services regulation. The team also benefits from the skills of Charles Poole-Warren, an English law-qualified partner with significant experience in financings in the energy and infrastructure sectors, Vanessa Cuellas, who regularly advises sponsors, borrowers, and funds on project finance, and Thomas Wilkinson, known for his work on sponsor-driven financings across Europe.

Clifford Chance is home to a 'very solid team' renowned for its 'great knowledge of the financial industry' and its expertise in 'dealing with complex issues and finding practical solutions for both lenders and borrowers'. The team excels in sophisticated cross-border financing transactions, including acquisition finance, project and real estate finance, debt restructuring, and refinancings, among others. Eduardo García - head of the global financial markets practice in Spain - is highly regarded for his fintech expertise and transactional work for banks, multilaterals, corporates, and funds. José Guardo brings extensive experience in multijurisdictional transactions, particularly those involving Latin America, with a strong focus on project finance, asset finance, and export finance. Structured finance and restructurings are among Epifanio Pérez’s key strengths, while Rodrigo Uría stands out for his focus on transactional and regulatory matters in the financial services sector. Eugenio Fernández-Rico is a prominent name in asset and project finance; María Sabau specialises in acquisition finance and refinancings; and Felipe Font concentrates on restructuring and real estate finance.

A popular choice for borrowers and financial institutions navigating complex financing transactions across Iberia and Latin America, Cuatrecasas ‘ banking and finance team manages a broad range of mandates, including corporate and acquisition financings, refinancings, real estate and project finance, and debt restructuring. Íñigo Rubio, known for his deep expertise in corporate and asset finance, also excels in infrastructure and real estate financing deals. Rubio jointly leads the team with Beatriz Causapé, a standout name for transactions involving the secondary loan trading markets. Héctor Bros focuses on cross-border corporate and acquisition finance deals, while Cristóbal Cotta plays a key role in the refinancing and restructuring of industrial and real estate companies. Additionally, Íñigo de Luisa is noted for his involvement in all types of financial transactions, where he acts for banks, financial institutions, private debt funds, hedge funds and sponsors.

Offering comprehensive expertise in lending and structured finance at both domestic and cross-border levels, Garrigues’ stronghold in Spain and established reputation among leading domestic banks, international financial institutions, and private equity funds make it a go-to destination for high-value financing transactions. The team’s key areas of focus include acquisition finance, direct lending, real estate finance, and ESG-linked transactions. The practice is jointly led by three partners: Gaspar Atienza, recognised for his work on large-scale corporate financings and direct lending; José Miguel Pinillos, who pairs deep expertise in Latin America with significant experience in financings and refinancings in the real estate and infrastructure sectors; and Marcos Botella. Gonzalo Rivera is noted for his proficiency in acquisition finance, while Xabier Urtiaga brings substantial experience in corporate finance with an international edge. Rafael González-Gallarza retired in July 2024.

The banking and finance team at Linklaters stands out for its combined expertise in both regulatory and transactional matters, handling high-profile financing transactions across Spain and internationally. The team is skilled in a broad range of areas, including acquisition finance, LBOs, project finance, real estate finance, direct lending, restructurings, and refinancings. Juan Barona is highly experienced in acquisition finance, leveraged finance, restructuring, and project financing within the energy and infrastructure sectors. Ben Crosse, an English law partner, focuses on leveraged finance, investment-grade lending, and real estate finance transactions. Francisco Sáinz-Trápaga manages a diverse range of domestic and cross-border financing deals, while Begoña Martínez is recognised for her expertise in restructurings and refinancings. Other noteworthy practitioners include Javier Hernandez, who advises lenders and sponsors on complex structured finance transactions, and English-qualified lawyer Piotr Hurkala, who works closely with the London office on cross-border financing matters.

With a strong presence in Iberia and extensive experience in cross-border transactions involving Europe and Latin America, Uría Menéndez is a key port of call for both lenders and borrowers seeking advice on complex financing transactions. The team manages a diverse workload where corporate lending features alongside project finance, restructurings, asset finance, and acquisition finance deals. Ángel Pérez López heads the practice, bringing significant expertise in corporate, acquisition, and project finance, along with a proven track record in debt restructuring. Carlos de Cárdenas Smith is frequently sought after for his advice on high-profile banking, finance, and restructuring transactions, while Sebastián Sáenz de Santa María is a name to note for corporate and project finance, as well as debt restructuring. Luis Jiménez stands out for his financing work in the energy sector. Ignacio Zapata excels in acquisition finance and structured transactions.

DLA Piper‘s banking and finance team in Spain manages a diverse transactional workload, where acquisition and real estate finance mandates feature alongside syndicated factoring deals and project finance in the energy and infrastructure sectors. With a strong following of commercial banks, debt funds, borrowers and sponsors, the team also demonstrates strong skills in financial regulation and compliance issues. The practice is spearheaded by César Herrero, known for his extensive experience in high-value domestic and cross-border transactions, particularly in leveraged, project, and structured finance. Jesús Zapata is a key player in the team, specialising in corporate and acquisition financing deals. Also notable are Natalia López, who leads the financial regulation and investment funds practice, and José Marco, whose expertise in real estate financings is a standout feature of the group.

Both lenders and borrowers turn to Gómez-Acebo & Pombo for assistance with sophisticated financing and refinancing transactions in Spain, with the latter being a core area of strength for the firm. The group demonstrates proficiency across a diverse range of lending matters, including project finance in the energy and infrastructure sectors, real estate finance, asset deals, as well as acquisition and corporate finance. Practice head Rafael Aguilera plays a prominent role in restructuring deals led by Spanish banks and advises banks and credit funds on corporate, acquisition and real estate financings. Miguel Lamo de Espinosa possesses significant expertise in advising alternative lenders on restructuring transactions, a field in which Ferran Foix is also highly active.

Turned to by large domestic and international financial institutions, private equity firms, international funds, alternative finance providers and major corporate borrowers, Hogan Lovells Spain is well equipped to advise on the gamut of banking and finance matters, including project and acquisition finance, real estate finance, asset-based transactions, refinancings, and restructurings. The practice is jointly led by José Luis Vázquez, whose areas of expertise cover structured finance, project finance, and debt restructuring, and Alfredo Barona recognised for his ability to offer 'solutions to any obstacle that may arise during the negotiation of financing contracts with the counterparties'. Key team members also include Carlos Meijide and Miguel Mallo, the latter of whom is singled out for his strong track record in leveraged, acquisition, and real estate finance.

Bringing together experience in a wide range of banking and finance matters - from asset-backed lending and acquisition finance, to project finance and refinancing transactions - Latham & Watkins LLP is a popular choice for financial entities and corporates seeking advice on high-end financing deals. Practice head Fernando Colomina is noted for his wealth of experience in advising borrowers and lenders on sophisticated financing structures, particularly in cross-border M&A and private equity transactions, with a focus on leveraged buyouts. Luis Sánchez frequently acts for creditors, companies and investors in financing and debt restructuring mandates.

Noted for 'its technical knowledge, personal approach and negotiating skills', Pérez-Llorca's banking and finance department advises banks, debt funds, investors, sponsors and major companies on a broad range of transactional matters. The team excels in acquisition and leveraged finance, asset-backed lending, and real estate and project finance deals. Department head Ander Valverde brings extensive experience across financing transactions, including refinancings and special situations. Ildefonso Arenas is a key contact for financial institutions, debt funds, PE entities and companies seeking advice on acquisition, corporate, project and real estate finance. Mónica de San Román oversees the project finance group, while Cosme Colmenero plays a key role in restructuring and refinancing deals, as well as leveraged, corporate and project finance issues.

Ashurst LLP‘s banking and finance department in Spain possesses a ‘very high level of technical understanding of complex legal and structuring matters’, offering expertise to both lenders and borrowers in leveraged and structured finance, asset-backed deals, export and trade finance, and securitisations. The team is particularly active in the financing of infrastructure and energy projects and has a strong track record in real estate finance. José Christian Bertram leads the department and is a reference for structured finance mandates. English-qualified partner Nick Pawson is experienced in managing cross-border transactions, including acquisition and leveraged finance, corporate lending, and refinancings. Irian Saleta Martínez is active in financing deals in the energy and real estate sectors.

Sought out for its expertise in a vast array of banking and finance matters, including acquisition finance, project finance, real estate finance and restructuring deals, Herbert Smith Freehills LLP attracts regular instructions from banks, debt funds, corporates, as well as investment and private equity funds. Practice head Armando García-Mendoza oversees a wide range of transactions, with a focus on energy, infrastructure, and real estate finance. Sergio Cires specialises in project and corporate finance, while Beatriz del Rey is particularly known for her work on distressed and loan portfolio deals. Carmen Jara is a key name in acquisition finance, restructuring, and real estate and project finance.

Leveraging its global presence, Jones Day‘s Madrid office frequently advises domestic and international financial institutions, funds, and corporate clients on complex cross-border financing transactions across sectors such as energy, telecoms, food and beverage, healthcare, and hospitality. The team is particularly distinguished for its expertise in energy transition and infrastructure deals and has seen notable activity in real estate finance. Co-head Javier López Antón specialises in leveraged, project, real estate, corporate, and asset-backed financings, acting for both lenders and borrowers. Complementing the team’s transactional capabilities, co-leader Iván Martín-Barbón offers further knowledge of financial services regulations, fintech, and ESG-related issues. Elvira Coloma is another key figure, recognised for her work in bilateral and syndicated lending.

With a notable track record in cross-border syndicated lending, corporate finance, project finance, and refinancing transactions, the banking and finance team at White & Case LLP is frequently sought by international and Spanish financial institutions, debt funds, sponsors and corporate borrowers. Fernando Navarro, a dual-qualified partner, excels in syndicated loans, structured products, and debt capital markets. Jaime Rossi stands out for his work in leveraged acquisition finance, real estate finance and restructurings. Julio Peralta is recognised for his experience advising export credit agencies across Europe and the Americas, while Alfonso García Freire combines expertise in both banking and finance and debt capital markets.

Standing out for its unparalleled track record in the fund finance space, the Madrid-based banking and finance team at Addleshaw Goddard acts for an impressive array of lenders and borrowers, including international and domestic banks, private equity firms and energy companies. The team, which demonstrates particular strength in the financing of renewable energy projects, often advises commercial lenders and the European Investment Bank on sophisticated project finance transactions. Department head Joaquín Sales is a name to note for financial institutions, funds and corporations seeking assistance with project, acquisition, corporate and asset finance matters. Key support is also offered by Félix Hernández, who excels in real estate and acquisition finance.

Leveraging its global network, Baker McKenzie‘s banking and finance practice in Spain is equipped to handle multijurisdictional transactions for financial institutions, borrowers, and international funds. The group provides expert advice on acquisition, project, structured, and real estate finance. Juan Gelabert, who joined from DLA Piper in May 2024, jointly oversees the practice with Rossanna D’Onza, who advises banks, alternative lenders and borrowers on a wide range of finance and restructuring deals, including project finance, acquisition finance, and real estate finance.

Bolstered by its 'international network of offices that greatly facilitates cross-border transactions', Dentons' Madrid-based banking and finance practice is best known for its expertise in project finance, commercial lending, and structured finance. Department head Jabier Badiola - a key point of contact for Spanish and international financial entities, insurance companies and investment funds - steers the team on a range of banking and finance matters, including project finance and debt restructuring. Luis Belart specialises in cross-border deals, most notably financings in the real estate and energy sectors.

Demonstrating particular proficiency in financings in the energy and infrastructure sectors, Watson Farley & Williams LLP is a popular choice for banks, investors and corporates seeking advice on sophisticated project finance transactions in Spain. Practice head Rodrigo Berasategui - a name to note for financial institutions, utilities, multilateral and funds - shines in project and export finance deals. Jose María Anarte brings additional expertise in project finance in the energy, infrastructure and transport segments, while Juan Vicente Barquilla enhances the team’s capabilities with his focus on structured finance.

Bird & Bird’s finance and financial regulation practice ‘offers first-class technical service in banking and finance’, earning recognition for its expertise in structured finance, distressed portfolio deals, asset finance, as well as refinancing and restructuring work. José Luis Lorente Howell advises domestic and international clients on regulatory and transactional matters, with a special focus on lender-side instructions. The practice was further strengthened by Fernando Gutiérrez‘s arrival in August 2023; Gutiérrez joined from Dentons bringing a wealth of experience in project, real estate, asset and fund finance.

Cases&Lacambra brings ‘high technical quality, flexibility, and understanding of the client’s needs’ to a range of financing transactions, including NPL deals, acquisition finance, debt restructurings, and real estate finance. Practice head Miguel Cases supports international financial institutions and investment funds in debt transactions, banking regulations, and derivatives. Toni Barios is a key contact for financial institutions, funds and other alternative lenders, while Claudi Rossell specialises in financial services disputes. Joaquin Fabre adds significant expertise in domestic and cross-border transactions, including direct lending, leveraged finance, alternative finance and syndicated loans.

CMS Albiñana y Suárez de Lezo is well positioned to assist major clients – both lenders and borrowers – with transactional and regulatory matters. The firm, praised for its ‘excellent coordination in deals across multiple geographies’, is skilled in acquisition finance, debt refinancing, and project finance, with a strong emphasis on the energy sector. Co-head Alberto Mata Rodríguez adds significant value with his expertise in cross-border financing transactions, while fellow co-lead Ricardo Plasencia oversees financial regulatory matters. The practice was further strengthened in July 2024 with the arrival of Alejandro González from Hogan Lovells Spain, who brings considerable experience in leveraged buy-outs, refinancings, and securitisations.

Praised for being ‘on top of transactions and having a pro-deal attitude’, RocaJunyent’s banking and finance team assists financial institutions, investment funds, alternative lenders, and borrowers with transactions and regulatory matters. The team has strong expertise in direct lending, syndicated and bilateral loans, and is particularly skilled in acquisition, project, and real estate finance, as well as debt refinancings. José Luis Pita da Veiga acts for financial institutions, sponsors, and debt and venture capital funds in financing, refinancing, and restructuring mandates, while Xavier Foz is recognised for his experience in the fintech and blockchain sectors.

Squire Patton Boggs' banking and financial services team handles a broad range of transactional work, including acquisition, project, corporate, and real estate finance, as well as debt restructuring and trade receivables financing. Lenders, borrowers, sponsors and funds regularly turn to Manuel Mingot for advice on domestic and cross-border financings, including project finance, direct lending, and debt restructuring mandates. José Luis Iriarte Ruiz is another name to note for acquisition, export and trade finance. Former co-head Pablo Rodríguez Abelenda is no longer at the firm.

'Known for its legal and sectoral knowledge, availability and quick response,' Andersen's banking and finance team handles a wide range of transactional matters - most notably corporate, project, and structured finance transactions - alongside financial regulatory issues. Co-head Guillermo Yuste steers the team in cross-border financings, specialising in project finance, debt restructuring, and syndicated loans, while co-leader Miguel Prado focuses on financial regulatory matters. The practice was significantly strengthened by the arrival of Guillermo Muñoz-Alonso from CMS Albiñana y Suárez de Lezo in September 2023.

Araoz & Rueda’s banking and finance team delivers strong capabilities across asset-backed lending, debt restructuring, and corporate and acquisition finance, with a particular focus on NPLs, REOs, and asset portfolio transactions. Department head Rafael Bazán is a key adviser to a diverse client base, including lenders, borrowers, creditors, and debtors. Beyond its transactional expertise, the team is also well positioned to advise on financial regulatory issues.

BROSETA Abogados offers comprehensive expertise across a variety of financing transactions, including project finance, syndicated lending, and complex debt restructurings. Antonio Navarro brings extensive experience in handling financing and refinancing matters, while Miguel Navarro specialises in distressed debt and restructurings. Carlos Salinas stands out for his strong focus on structured finance deals and debt refinancing.

Borrowers and lenders – including domestic and international financial institutions, banks, funds and sponsors – regularly turn to Eversheds Sutherland for assistance with project finance deals in the mining, water, telecoms, infrastructure and energy sectors. The latter is a key area of strength for the group, which is also adept in asset-based lending and real estate finance transactions. Practice head Teresa Villarroya is especially proficient in ship finance and in the funding of renewable energy projects. Marta Becker is another key contact for financial institutions, funds and sponsors.

Under the leadership of José Millán Martin, Pinsent Masons LLP‘s banking and finance practice has established itself as a key player in real estate finance, acquisition finance and project finance, serving both lenders and borrowers across these areas. The team has recently demonstrated notable activity in financing mandates across the real estate, energy, telecoms, and industrial sectors. Practice leader Millán regularly advises domestic and international clients on matters involving project and structured finance, acquisition finance, and debt restructuring.

Deloitte Legal's banking and finance team is particularly active in project finance, real estate finance, and debt restructuring. Led by Ignacio Echenagusia, the practice supports both borrowers and financial institutions in navigating domestic and cross-border financing transactions.

A preferred choice for lenders, debtors and guarantors, EY Abogados stands out for its strong track record in acquisition finance, refinancing, and receivables finance. The team has strong cross-border capabilities, handling financing for real estate projects and asset-backed deals, with a particular focus on sectors such as shipping, R&D, and film. The department is led by Gonzalo Martín De Nicolás, who provides expert guidance to banks, alternative lenders, borrowers, and sponsors on acquisition finance, project finance, real estate finance, and restructuring. Guillermo Crespo specialises in structured and corporate finance.

KPMG Abogados, Spain is recognised for its strong expertise in structured and asset finance, particularly within the shipping and aviation industries. Luis Fernández, who specialises in asset-backed transactions and real estate finance, frequently advises banks, shipowners, airlines, and real estate companies, among other clients. Luis Mingo is noted for his expertise in tax lease shipping finance and project finance, while Carlos Rey Portela is highly regarded for his work in transport sector financings.

Praised for its ‘attention to detail, and considerable knowledge and experience’, the team at López-Ibor Abogados is particularly prominent in asset finance, especially within the aviation sector, as well as real estate finance transactions. The group is led by Alfonso López-Ibor, whose areas of expertise include aircraft finance, fintech, and payment regulatory matters.

Direct lending, real estate finance, restructurings, and M&A in the financial sector are all core areas of activity for the banking and finance practice at PwC Tax & Legal Services, which is a popular choice for both borrowers and lenders. Practice head Beltrán Gómez de Zayas 'stands out for his extensive banking knowledge, especially from the lender's perspective', and brings notable expertise in structured finance, debt restructuring, and the disposal of non-core assets by financial institutions.

With strong expertise in direct lending, alternative financing, special situations, and real estate finance, ZADAL has quickly become a go-to firm for traditional and alternative lenders and borrowers. Antonio Paredes often advises on debt restructuring, NPL deals and project finance. Román Mejías, who joined from Cuatrecasas in June 2023, enhances the team’s corporate finance and debt restructuring capabilities.