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Rafael Bazán


Languages: Spanish, English

Assistant: Alicia Gayubas (gayubas@araozyrueda.com)

Professional career

Rafael Bazán, Partner of the Banking & Finance department of Araoz & Rueda since 2017, joined our firm after four years as a partner in the Banking & Finance Department of Baker McKenzie Madrid (2013-2017).

Before joining Baker McKenzie, he worked twelve years in the Banking & Finance Departments of Alonso Ureba, Bauzá y Asociados and Ramón y Cajal Abogados (the last nine years as a partner). Prior to this, he spent six years working as legal counsel at HSBC Bank plc. (Spain) and Citibank, and was Non-Director Vice-Secretary for Iberpay (Sociedad Española de Sistemas de Pago, S.A.), the managing entity for the National Electronic Clearing System.

Rafael has extensive experience in all kinds of national and cross-border transactions involving corporate finance, acquisition finance, asset finance and restructuring of companies in crisis, advising both banks and affected companies in all sectors, with a special focus on the real estate, financial and industrial sectors. In the last five years he has advised both selling banks and investors in transactions involving the acquisition of many of the most significant non-performing loan and asset portfolios in the market. He also has extensive experience in regulatory issues involving supervisory authorities.

Recommended Individual” in Banking & Finance by Chambers & Partners, IFLR 1000 and The EMEA Legal 500 since 2010 up to latest edition in 2024.


“Outstanding in everything”

“Dedication and skills negotiating with the counterparty”

– Chambers Europe Guide – 



  • University of Navarra (Business Development Programme, IESE) (2006).
  • Instituto de Empresa (Diploma Business Studies) (1995).
  • Universidad Complutense de Madrid (Law Degree) (1993).

Relevant Operations



Chambers Europe Guide 2024

Rafael Bazán of Araoz & Rueda is an active banking and finance practitioner who is mandated due to his expertise across various transaction types including debt restructurings and acquisition finance on behalf of both lenders and borrowers.

“Rafael Bazán is highly technical and at the same time practical, which allows him to always find a solution that is adapted to the needs of the client.”

“Rafael has a great ability to resolve stuck and complex issues. He’s organised.”

The EMEA Legal 500 2024

Noted for its experience in NPL, REO and asset portfolio transactions, the ‘proactive, efficient and commercial‘ practice at Araoz & Rueda handles a mix of asset-backed lending deals, debt restructuring, and corporate and acquisition financings. These are all key areas of activity for department head Rafael Bazán, who is trusted by lenders, borrowers, creditors and debtors alike. The group is also well positioned to advise on regulatory matters, with a particular focus on anti-money laundering issues.


‘An incredible team, highly trained and very good disposition.’

‘They know how to communicate, understand the client’s problem and be practical.’

‘Araoz and Rueda’s lawyers are exceptionally talented and experienced. They are very proactive, efficient and commercial. They understand the nuances of a dynamic deal process and, with their experience in the Spanish banking and finance market, they can advise their clients on the best market terms available.’

‘The team at A&R is experienced and engaged. They are reachable, responsive and will help drive a process through.’

Chambers Europe Guide 2023

Rafael Bazán of Araoz & Rueda is an active banking and finance practitioner who is mandated due to his expertise across various transaction types including debt restructurings, acquisition finance and mezzanine loans on behalf of both lenders and borrowers. “We are quite pleased with RafaelBazán’s communication, responsiveness and expertise.”

The EMEA Legal 500 2023

Araoz & Rueda advises both domestic and international banks, financial institutions, and corporates on a range of financial matters, including syndicated loans, debt restructuring, and corporate, acquisition and asset finance. In particular, practice head Rafael Bazán is highly experienced in the sale and acquisition of NPL, REO and asset portfolios.

Chambers Europe Guide 2022

Rafael Bazán of Araoz & Rueda is an active banking and finance practitioner who is mandated due to his expertise across various transaction types including debt restructurings, acquisition finance and syndicated loans on behalf of both lenders and borrowers. He is considered “very responsive, reliable and friendly” by clients.

The EMEA Legal 500 2022

The ‘responsive, easy to deal with and straightforward’ banking and finance group at Araoz & Rueda has particular expertise in the acquisition and sale of NPLs, REOs and asset portfolios. ‘Outstanding’ practice head Rafael Bazán is a well-known name in the Spanish market and also has professional experience in banking. He works directly with all clients, and new names instructing the team this year have included JP Morgan and Terra Firma Capital Management. Javier Sánchez and Juan Viaño are the associate team. Testimonials ‘Very consolidated team, with great experience in the sector and very accessible.’ ‘Rafael Bazan – Outstanding in everything.’ ‘We have worked with this firm for many years and enjoy doing so. They have a very good knowledge of the market we operate in. They are responsive and reliable.’ ‘Alejandro Araoz and Rafael Bazan are both extremely good and commercial in approach. They are very approachable. They understand our sector very well which is very helpful.’ ‘Responsive, easy to deal with and straightforward. Consistently high quality across practice areas.’

Chambers Europe Guide 2021

Rafael Bazán earns considerable praise among interviewees for his experience on both the buy and sell sides of NPL transactions. He also advises on refinancing and financing transactions that often fall within the mid-market range. Clients highlight “his dedication and skill in negotiating with the counterparty.” “He is extremely responsive and knowledgeable,” notes another source.

Chambers Europe Guide 2020

Rafael Bazán (Tier 2) of Araoz & Rueda is recognised for advising a range of high-profile banks on the sale and acquisition of portfolios, including distressed portfolios. He further assists clients with the financing of takeover bids.

The EMEA Legal 500 2020

Araoz & Rueda advises on a range of finance matters, debt restructuring, leasing, and the acquisition and sale of distressed debt. The firm is also active in litigation against credit institutions, investment services compa-nies and collective investment schemes. Rafael Bazán leads the practice and has particular expertise in transactions involving the acquisition and sale of NPLs and asset portfolios, representing sellers and buyers in major NPL transactions. Testimonials: “Proximity and flexibility” “Very nice and easygoing people” “Availability with senior partners involved”

IFLR 1000 2020

During the research period the firms’ work in banking included advice to borrowers and lenders on acquisition finance, loans and refinancing deals. “The firms’ strengths are availability and commitment”. Partner Rafael Bazán is highly recommended.

Chambers Europe Guide 2019

Rafael Bazán (Tier 2) of Araoz & Rueda draws praise for his “very business-oriented” approach in mandates which include debt refinancing operations, NPL deals and acquisition finance. He is adept at advising both borrowing and lending parties. Clients report: “He goes right to the bottom of the matter, he’s always available and ready to help: it’s a pleasure to work with him.”

The EMEA Legal 500 2019

Araoz & Rueda offers the ‘direct engagement of senior lawyers’, with Rafael Bazán the name to note for banking and finance. Notable instructions include advising renewable energy companies Alten and Grupo Ortiz on the refinancing of two photovoltaic projects, and assisting Norwegian debt management company Axactor with the acquisition of two NPL portfolios from Bankinter.

IFLR 1000 2019

“Focused on closing deals while ensuring customer’s interest as much as possible.” “Araoz & Rueda provides high-quality service and delivers on time.” “Rafael Bazán and Ainhoa Veiga are great professionals on whom you can trust without any doubt”.

Chambers Europe Guide 2018

Clients highlight Rafael Bazán (Tier 2) for his “negotiation skills and excellent knowledge of Spanish regulations.” Interviewees further note that in complex situations “he knows how to manage everyone’s interests.” A recent addition to the team at Araoz & Rueda, he has standout experience on the sell side of distressed loan portfolio transactions. He also assists with corporate finance, acquisition finance and asset finance transactions.

The EMEA Legal 500 2018

Araoz & Rueda’s team was strengthened by the arrival of Rafael Bazán from Baker McKenzie. Highlights included assisting Crédit Agricole Corporate and Investment Bank with the Spanish aspects of Sidorme Hotels’ senior facility agreement in the sum of € 504m.

Chambers Europe Guide 2017

Rafael Bazán of Araoz & Rueda has experience of high-profile loan portfolio transactions for key Spanish banking entities including the FROB, Catalunya Banc and Bankia. He also has broader expertise in refinancing, acquisition and asset finance. Clients say: “He is clearly business-oriented and client-focused,” adding: “He is very precise and can advise on a wide scope of financial matters.

The EMEA Legal 500 2017

Araoz & Rueda acts for a variety of corporate and financial clients, including BNP Paribas and LM Group.

IFLR 1000 2017

Araoz & Rueda is recommended in Banking & Finance. The firm advised a borrower in connection with a €200 million loan facility granted to a photo voltaic energy production plant to allow it to undergo refinancing procedures. The team also acted for wine producers in the financing of a new premises.

In the media

¿Los bancos financiarán al capital riesgo en las operaciones postcovid?

Rafael Bazán
Septiembre 2020
Araoz y Rueda

El Derecho.com, May 2017

Rafael Bazán
Araoz y Rueda

Cinco Días (newspaper), May 2017

Rafael Bazán


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