Carmen advises a diverse client base spanning private credit funds, private equity sponsors, infrastructure investors, investment banks and listed and unlisted corporates on complex, cross-border transactions. Her clients benefit from her ability to act on either side of a transaction and to navigate competing interests in complex situations.
Carmen’s practice focuses on restructurings, refinancings, mergers and acquisitions, joint ventures, corporate finance and capital markets transactions. She has particular expertise in distressed and special situations work, bringing a holistic approach that spans multiple practice areas rather than operating in silos.
With over 11 years of experience advising on some of the most significant Spanish and international transactions, Carmen combines deep multi-jurisdictional expertise with a commercially driven approach. She is qualified to practise in Spain and is preparing for qualification as a solicitor in England and Wales.
CVC – LaLiga
Advised CVC on its €2 billion strategic investment in LaLiga to set in motion LaLiga Impulso, a project to boost the global growth of LaLiga and its clubs.
Naviera Armas – restructuring
Advised the ad hoc group of noteholders and shareholders on the first and second restructuring of Naviera Armas, a Spanish passengers and freight ferry services business, including a €160 million rescue financing and subsequent c. €1 billion debt and equity restructuring.
Celsa – bond issuance
Advised the Initial Purchasers on the refinancing of the €2.2 billion debt of Group Celsa, one of Europe’s leading steel producers.
Nortegas – refinancing
Advised Nortegas on the refinancing of its financial indebtedness for €1.245 billion, including bonds and bank debt.
Accolade Wines – acquisition
Advised Accolade Wines on the acquisition of the wine division of Pernod Ricard in Spain, Australia and New Zealand.
KKR – Luxembourg pledge enforcement
Advised KKR on one of the first enforcements of a Luxembourg pledge in Spain, a landmark transaction requiring innovative structuring and deep multi-jurisdictional expertise.
L Catterton – golden share
Advised L Catterton on the implementation of a golden share structure—an uncommon and highly bespoke mechanism in the Spanish market.
EIG Partners – energy investment
Advised EIG Partners on a €255 million investment in Prosolia Energy.
Swissport – restructuring
Advised the senior creditors committee on the c. €300 million rescue financing and subsequent c. €2.9 billion debt and equity restructuring of Swissport, a global aviation services business.
Deoleo – bond issuance and refinancing
Advised Deoleo, the Spanish listed company, on the issuance of unlisted bonds and the refinancing of its financial indebtedness, including the restructuring of its €575 million debt.
