Rafael Bazán



Banking & Finance


Languages: English and Spanish

Assistant: Alicia Gayubas


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

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, SA), 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 in legal directories such as Chambers & Partners, Legal 500, IFLR 1000 and Best Lawyers. Ranked in Tier 2 as a recommended expert in the latest editions of Chambers Europe (up to 2021).

Teaching experience

Lecturer in banking and finance law at different institutions and universities, such as the University of Alcalá de Henares, Instituto de Empresa, Escuela de Finanzas Aplicadas and Universidad Rey Juan Carlos.

Chambers Europe Guide 2021 – Banking & Finance

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 2021
IFLR 1000 2020 – Banking & Finance

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.

IFLR 1000 2020
Chambers Europe Guide 2020 – Bancario & Financiero

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.

Chambers Europe Guide 2020
Best Lawyers 2020 – Banking/Financing

Included in the list of "Best Lawyers in Spain" in Banking/Finance.

Best Lawyers 2020
The EMEA Legal 500 2020 – Banking & Finance

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”

The EMEA Legal 500 2020
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.

The EMEA Legal 500 2019
Chambers Europe Guide 2019 – Banking/Finance

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."

Chambers Europe Guide 2019
IFLR 1000 2019 – Banking/Finance

"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".

IFLR 1000 2019
Best Lawyers 2019 – RBL

Included in the list of "Best Lawyers in Spain" in Banking/Finance.

Best Lawyers 2019
Best Lawyers 2018 – RBL

Included in the list of "Best Lawyers in Spain" in Banking/Finance.

Best Lawyers 2018
The EMEA Legal 500 2018 – Banking/Finance

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.

The EMEA Legal 500 2018
Chambers Europe Guide 2018 – Banking/Finance

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.

Chambers Europe Guide 2018
Chambers Europe Guide 2017 – Bancario/Financiero

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.

Chambers Europe Guide 2017
IFLR 1000 2017- Banking/Finance

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.

IFLR 1000 2017
The EMEA Legal 500 2017 – Banking/Finance

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

The EMEA Legal 500 2017
Best Lawyers 2017 – RBL

Included in the list of "Best Lawyers in Spain" in Banking/Finance.

Best Lawyers 2017

«Q&A: providing an overview to lending and secured finance laws and regulations in Spain»

Publication: Country Comparative Guide 2020 - The Legal 500
Authors: Rafael Bazán
Date: May 2020

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“Q&A: providing an overview to lending and secured finance laws and regulations in Spain”

Publication: Country Comparative Guide 2019 - The Legal 500
Authors: Rafael Bazán
Date: May 2019

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La nueva ola inmobiliaria: activos bancarios y sectores alternativos

Capital Privado (El Economista), September 2020 (Rafael Bazán)

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Iberian Lawyer Magazine, May 2018 (Rafael Bazán)

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Iberian Lawyer Magazine, April 2018 (Rafael Bazán)

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