Find Lawyers in Spain for Structured Finance Law
Practice Area Overview
Legal advice in connection with complex financial transactions is designed on a case-by-case basis for corporations with very specific financial needs that cannot be satisfied with more traditional and standardized products. They usually combine lines of credit with contributions by other parties (equity, mezzanine) and entail a certain degree of risk, which is covered by the implementation of security packages. Some examples of structured finance products include collateralized bond obligations, collateralized debt obligations, public supported transactions, and synthetic financial instruments, which are often combined to optimize the expected profitability of the overall transaction.
Different parties participating in the transactions may require legal advice, including the following:
(i) Mandated Lead Arrangers and other financing parties: they provide lines of credit to the borrowers and the legal advice typically required includes ensuring that the security package obtained sufficiently protects the borrowers’ repayment obligations from a legal perspective.
(ii) Equity/mezzanine investors: they provide subordinated financing in exchange of higher profitability arising from credit rights, tax savings, or other sources. The legal advice typically required includes a review of the legality of the structure to be implemented, including the issuance of legal and tax clean opinions addressed to the investors and the implementation of measures to limit the risk of their investments without being detrimental to their expected profitability and the implementation of proper mechanisms to protect their interests without detrimental of those of the senior financiers.
(iii) Borrowers: they obtain funds to be used for projects, operations, business expansion, or other purposes. The legal advice typically required includes analysis of the implications of their participation in the transaction from a legal perspective and the review of the conditions and obligations that are being offered in order to ensure that they will be able to receive the needed funds in time and form and that they will still be able to run their business in an operational manner, as well as that the limitations required by other participants are not detrimental to their business expectations.
Structured finance transactions are often cross-border deals that require legal advice in more than one jurisdiction.
Depending on the type of structure that requires legal advice and the outcome of its implementation, several areas of the law may be covered, including financial, tax, public, corporate/commercial, procedural, bankruptcy, aviation, and maritime law.
Juanma is one of the founding partners of De la Peña & Bethencourt. He is also Co-Managing Partner and Head of Corporate, Real-Estate & Finance Departments of the Firm. He has over 10 years of experience advising listed and non-listed national and international companies and sponsors, banks and funds on all kind of financing-related deals and matters. Previously to joining the firm, Juanma worked as a Senior Associate at the Banking and Finance Department of Pérez Llorca...
Joaquim Bisbal is a professor of commercial law at Barcelona University. Professor Bisbal was awarded his PhD in Law from Bolonia University. He was a visiting researcher at Yale Law School (USA), head of commercial law at Barcelona University and one of the founders of the Open University of Catalonia (UOC). He specialises in company law, insolvency law and securities market law, and he has published widely in these areas. He is a member of the Editorial Board of two journals, Revista de Der...
Jordi Casas is a partner at Osborne Clarke. He advises on M&A, joint ventures, private equity, venture capital and corporate law matters, including Spanish and cross-border transactions. Having been educated at the University of Barcelona, Jordi graduated with a law degree in 1992 and he also studied in the USA (AFS scholarship, Springbrook High School, 1987), France (Erasmus scholarhip, Université de Poitiers, 1991) and Belgium (Patronat Català Pro Europa’s scholarshi...
Jordi joined Pérez-Llorca in 2006 after having worked at a leading Spanish law firm. He advises national and international clients on all kinds of corporate transactions such as mergers and acquisitions (acquisitions, mergers, spin-offs, restructurings, etc), start-ups and venture capital, project finance, real estate transactions (investment, development, sale, etc), corporate law and agreements. Jordi lectures for the degrees in Law at ESADE and Universitat Ramón Llull in Barc...
Practice areas: Real Estate, Banking & Finance, Projects and M&A, Energy Fausto Romero-Miura advises national and international clients on real estate, M&A and energy sector-related deals. He advises on project development, financing and acquisition, and on acquisitions within the debt and banking sectors. He advises hedge funds and investment funds on acquisitions in Spain. Fausto joined Pérez-Llorca in 2000 and made partner in 2007. Law degree (Universidad Complutense, Ma...
Gerard joined Pérez-Llorca in 1995 and is currently head of our Barcelona office. He specialises in providing advice to both national and international clients on all real estate transactions, particularly property projects, including shopping centres, apartment blocks, office complexes and hotels. Practice areas: Real Estate, Corporate law, M&A
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