Fernando Navarro is a partner in the EMEA Banking Team and head of the Madrid Banking Group.
His practice focuses on a wide variety of financing transactions through syndicated and bilateral loans, acting for both lenders and borrowers, as well as on derivatives, structured products, securitisation and DCM. He has also participated in a number of portfolio disposals acting for numerous Spanish and international banks and funds.
Fernando has vast experience in asset finance, trade finance, aviation finance and project finance.
Fernando is highly recommended as a Banking lawyer by Chambers where he is mentioned as being capable to translate "questions of great legal and technical complexity to a commercial and easily intelligible level" and by IFLR1000 where is rated as “highly regarded”. Fernando is also mentioned as a "Leading individual" by Legal 500 in its last edition.
London, courses for QLTT
Program on Management for Law Firms
Some representative examples of Fernando's experience are advising:
- A syndicate of banks in connection with a EUR 250,000,000 multicurrency revolving credit facility extended on 28 July 2021 in favour of X-Elio.
- Banco Santander as Spanish legal counsel in connection with a framework agreement of bank guarantees dated 31 July 2020, drafted in Spanish and governed by Spanish law for an approximate amount of up to €65.9 million originally entered into among, inter alia, Fertiberia, S.A. as guarantee holder, Química del Estroncio, S.A.U., Fercampo, S.A.U., Agralia Fertilizantes, S.L., Fertiberia Castilla-León, S.A. and Fertiberia La Mancha, S.L. as guarantors, Bankia, S.A., Bankinter, S.A., Banco de Sabadell, S.A. and CaixaBank, S.A. and Banco Santander, S.A., as guaranteeing entities and to which Barclays Bank Ireland PLC acceded as an additional guaranteeing entity (Entidad Avalista Adicional) by virtue of an accession letter signed on 16 October 2020.
- Swissport Financing S.à r.l., a multinational cargo/airport ground services provider. Swissport sought new financing as part of a wider restructuring process comprising of amendments to an existing credit agreement dating from 2019, along with a new super senior facilities agreement to provide a €300 million interim facility.
- doValue S.p.A. on a €300 million senior secured notes issuance to prepay and cancel the outstanding senior facility agreement entered into on March 22, 2019 (including accrued interest thereon and related interest rate swaps), with the remainder to be held as cash for general corporate purposes.
- Banco Santander as Administrative Agent and the Lenders in connection with a US$200 million credit agreement governed by the laws of the State of New York, entered into by and between, among others, Acciona Financiación Filiales Chile SpA, as Borrower, Acciona, S.A., as Guarantor, CaixaBank, S.A., Mizuho Bank Europe N.V., Banco Bilbao Vizcaya Argentaria, S.A., New York Branch and Banco Santander, S.A. as Lenders and Banco Santander-Chile as Administrative Agent.
- Vauxhall Lending and LCM Partners in connection with several Sale & Lease back and Operating lease agreements over numerous assets in Spain.
- KfW-IPEX Bank GmbH ("KfW-IPEX Bank"), a subsidiary of the German government-owned Kreditanstalt für Wiederaufbau ("KfW"), in connection with the limited recourse financing for the Chubut Norte III and Chubut Norte IV wind farm projects in Argentina being developed by Genneia S.A. ("Genneia") and Pan American Fueguina S.A. ("PAE"). Vientos Sudamericanos Chubut Norte III S.A. and Vientos Patagonicos Chubut Norte IV S.A., two special purpose vehicles owned by the Argentine energy companies Genneia and PAE, obtained a US$131,550,636.00 loan facility from KfW-IPEX Bank to finance the construction, development and operation of the projects. The loan is backed by a guarantee from the German export credit agency, Euler Hermes. The projects were awarded 20-year power purchase agreements under Argentina's RenovAr program, which aims to produce 20 percent of the country's electricity from renewable sources by 2025.
- Bank of America Europe Designated Activity Company (the "Bank") in relation to a second amendment agreement of a loan agreement dated 13 February 2017 granted for an amount of US$60 million provided by the Bank, as lender, to Pintura, Estampado y Montaje, S.A.P.I. de C.V., as borrower.
- Banco Santander, S.A. as lender in connection with a US$100 million margin loan to Cementos Argos S.A., as Colombian Borrower, and Argos USA, LLC, as U.S. Borrower. The loan is secured by shares in Grupo de Inversiones Suramericana SA and the proceeds of the loan will be used to finance the Borrowers' general corporate purposes.
- Eurowag group in connection with financing up to €310 million provided by a club of banks for the refinancing of existing indebtedness (in particular from previous acquisitions), CAPEX, future acquisitions and general corporate purposes.
La financiación de procedimientos judiciales, ¿una modalidad que ha llegado para quedarse? La Ley Mercantil, May 2015
Posibles efectos prácticos del convenio de Ciudad del Cabo sobre operaciones de financiación de elementos de equipo aeronáutico españoles. La Ley Diario, February 2015
El pacto comisorio en el actual marco de los derechos de garantía. La Ley Diario, May 2014
Direct lending: ¿qué, cuándo y cómo? Cuatrecasasblog.com, February 2014
Trend to high-yield bonds. International Financial Law Review IFLR, May 2013
Fondo para la financiación de los pagos a proveedores. Anuario mercantil para abogados, 2013
Implicaciones prácticas de la prenda de derechos de crédito configurada como prenda sin desplazamiento tras la reforma de la Ley Concursal introducida por la Ley 38/2011, de 10 de octubre. La Ley Diario, December 2012
Fund for financing payments to suppliers. International Financial Law Review IFLR, 26 September 2012
Financing payments to suppliers of local entities and autonomous regions. Financierworldwide.com, August 2012
Banking & Finance
Leading Individual: The Legal 500 2021
Recommended (Band 3): Chambers and Partners Global 2021
Recommended (Band 3): Chambers and Partners Europe 2021