Fernando Navarro

Fernando Navarro

Partner, Madrid
Fernando Navarro
Fernando Navarro

Fernando Navarro

Partner, Madrid
Fernando Navarro

His client service and his finance business perspective are what makes him stand out

Banking & Finance | Chambers & Partners

Biography

With more than 30 years experience, Fernando Navarro is a partner in the EMEA Debt Finance Team and head of Madrid Debt Finance.

His practice focuses on a wide variety of Spanish and English law financing transactions through syndicated and bilateral loans in the context of either senior, super senior, mezzanine, PIK and second lien structures, acting for lenders and borrowers alike.

With a particular focus on leveraged and acquisition finance, Fernando has as well vast experience in project finance, trade finance and asset finance.

Fernando has been ranked for the  last 18 years by Chambers, Legal 500, and IFRL where he is rated as "highly regarded".

Experience

Some representative examples of Fernando's experience includes advising:

Representation of LGT Capital Partners as lenders in connection with a €90 million financing extended for the acquisition of Agronova by Ambienta Sgr S.P.A. Loan proceeds were also used to refinance existing indebtedness of the company and for ongoing general corporate purposes.

Representation of X-Elio Energy, S.L. and the lenders in connection with an amendment and restatement agreement executed on 26 October 2023 in relation to an existing syndicated financing (granted as a revolving facilities agreement) entered into on 28 July 2021 (as amended and/or restated from time to time and, in particular as amended on 16 September 2022 and as amended and restated on 3 August 2023) by virtue of which Export Development Canada, Instituto de Crédito Oficial, E.P.E. and CIBC Capital Markets (Europe) S.A. acceded to the financing as additional lenders. The total amount of the facilities was increased up to € 500 million.

Representation of a syndicate of lenders lead by Ardian in a financing comprising a Unitranche Facility, a Committed Acquisition Facility and a PIK tranche to support the acquisition of Gestión Tributaria Territorial (GTT) by Stirling Square Capital Partners.

Portfolio construction financing for Lightsource bp (LSbp) to finance the development of it solar, wind and BESS projects in Spain, Portugal and Italy. The revolving credit facility is initially sized at € 175 million to finance the construction of the Guillenas 220/400 Solar Project in Seville, Andalucia, Spain, comprised of two photovoltaic plants with a combined capacity of 247 MWp.

Representation of  Banco Santander, S.A. in connection with a margin loan to be granted to a Spanish listed company.

Representation of Nomura on a warehouse financing for Waterfall Asset Management, in respect of their lending platform Izilend, in relation to a portfolio of Spanish residential and commercial mortgage loans.

Representation of the international commercial banks in a non-recourse financing of the 456 MW, approx. US$700 million Feijão wind project in Brazil, which is co-owned 51% by Green Investment Group, an affiliate of the Macquarie Group, and 49% by Hydro Rein, an affiliate of Norsk Hydro.

Representation of Benteler on the € 2.000.000.000 refinancing of Benteler Group’s debt through an emission of bonds and a syndicate loan and revolving financing. This deal has involved 18 jurisdictions.

Representation of the lenders in connection to a proposed multi-lender, export credit agency backed project financing for the construction of Queensland's MacIntyre Wind Farm. The project will be part of a 1026-megawatt wind farm precinct alongside CleanCo (the Queensland Government's renewable energy generator) with a total investment of $1.96 billion.

Representation of the lenders (Banco Santander, S.A. and Kommunalkredit Austria AG) on a € 170 million financing relating to the acquisition by Ancala Partners, LLP of part of Babcock International Group PLC’s aerial emergency services business.

Representation of Swiss Life Asset Managers and AXA investment Managers on the financing for the acquisition of Lyntia Networks from Antin Infrastructure Partners.

Representation of the arrangers in connection with the financing by ICG of the acquisition of Comdata and combination with Konecta, leaders in Customer Experience (CX) Business Process Outsourcing (BPO) solutions. The financing involved a € 975 million credit facility, comprising a TLB facility, TLA facility and revolving credit facility.

Representation of Angelo Gordon Europe LLP and funds advised by PIMCO as lead lenders in a € 760 million syndicated refinancing of Promotora de Informaciones S.A. (BME: PRS). The financing involved a € 575 million senior facilities agreement and a € 185 million second lien facilities agreement, both implemented by way of cashless roll on behalf of the lenders under the original facility. Both facilities were used to finance or refinance the existing indebtedness of the Group.

Representation of Banco Santander, S.A. (Santander) on the financing of the acquisition of Grupo Euskal Forging, S.L. and its subsidiaries by Siderforgerossi Group S.p.A. (Siderforgerossi).

Representation of the senior lenders, including multilateral lenders, development finance institutions and a syndicate of commercial banks, BNDES (Brazil´s national development bank) in the project financing of the approximately US$ 3 billion Sao Paulo Metro Line 6 in Brazil. This is the first-ever limited recourse financing of an infrastructure PPP project in Brazil by BNDES and is currently the largest PP project under construction in Latin America.

Representation of Blackstone Credit in relation to the financing of the merger of Photobox and Albelli, which are owned by Exponent and Gilde respectively.

Representation of Crédit Agricole-CIB with an interbank minimum requirement for own funds and eligible liabilities (MREL) facility to be extended to Novobanco.

Representation of Babcock Mission Critical Services, S.A.U. in the issuance of a Spanish law capacity legal opinion with regard to a lease agreement of different aircrafts.

Representation of Tink AB, a leading open banking platform provider, in connection with a secured facility for an amount of € 110M extended ahead of Tink AB´s sale to Visa.

Representation of Bank of America Europe Designated Activity Company in relation to an amendment agreement of a revolving credit facility for an initial maximum amount of 100,000,000 (current € 60 million) entered into on 1 July 2016 by Repsol, S.A. as borrower and Bank of America as lender.

Representation of Banco Santander, S.A. in connection with a US$75 million credit agreement governed by the laws of the State of New York entered into among, inter alia, Nuevo Saturno S.A.C. as the Initial Borrower, Talesden Investments, S.L.U. as the Initial Guarantor, Banco de Crédito del Perú S.A. as Administrative Agent and Banco Santander, S.A. as Sole Lead Arranger and Bookrunner.

England & Wales (Solicitor)
Spain
Bachelor of Laws
Legal and Business Administration
Universidad San Pablo CEU

Madrid

The College of Law

London, courses for QLTT

IESE Business School

Program on Management for Law Firms

Spanish
English

Banking & Finance

  • Leading Individual: The Legal 500 2021
  • Recommended (Band 3): Chambers and Partners Global 2021
  • Recommended (Band 3): Chambers and Partners Europe 2021
  • Un futuro lleno de oportunidades entre México y España. El Economista newspaper, May 2024
  • A corridor of opportunity: deal flow between Mexico and Spain. Debt Explorer, March 2024
  • 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

Service areas