Leo specialises in structured finance and leads the fund finance practice in Spain, advising banks, alternative lenders, sponsors and investment funds on complex structured debt transactions. His practice spans synthetic and traditional securitisations, asset-backed lending, backleverage financing and derivatives, alongside a wide fund finance capability
Advising European Investment Bank (EIB) acting under the Pan-European Guarantee Fund in relation to a co-investment facility along with Banco Sabadell (through its VC fund "Sabadell Venture Capital") to support SMEs in Spain and Portugal.
Advising Servicios Financieros Carrefour as originator in the renewal of the Columbus Master Credit Cards, Fondo de Titulización Base Prospectus and the first issuance under the renewed programme, including the incorporation of STS requirements.
Advising Banco Santander (as originator, protection buyer, paying agent and servicer) in the setting-up of FT Pymes Magdalena 5, first on-balance sheet securitisation carried out in Spain under the new STS Regulations.
Advising hedge fund Fidera Limited in connection with Real Estate direct lending transactions in Spain.
Advising a syndicate of banks including BNP Paribas, Deutsche Bank, Caixabank, Santander and ICO in a project finance in Mexico.
Advising Banco Santander in the transition from IBOR rates to Risk Free Rates for its cash products, including loan facilities, receivables purchase agreements and reverse factoring.
Advising Enagas in a USD 550,000,000 facility for corporate purposes.
Advising Coface Finanz GmbH in the granting of several Factoring Facilities to Klöckner Group.
Advising Cellnex in the amendment of its syndicated and bilateral facilities for the purposes of transitioning USD LIBOR, GBP LIBOR and CHF LIBOR to new applicable reference rates.
Advising Neuberger Berman in the setting-up of private equity fund "NB Select Private Equity FCR" managed by Abante Asesores SGIIC.
Advising Banco Santander in a structured financing/repackaging of a financial lease with Orange Spain for the installation of an optical fiber.
Advising Taconic Capital Advisors in connection with a structured acquisition of bonds and equity stake.
Advising Bank of America and a group of investment banks on El Corte Inglés' €600,000,000 high-yield bond issue.
Advising originators and management companies (Sociedades Gestoras) on regulatory issues arising from COVID 19 regulations with impact over securitisation funds.
Advising WiZink as originator and Société Générale as arranger in a EUR 2,000,000,000 Medium Term Note Programme through aZul Master Credit Cards DAC.
Advising Neuberger Berman as investor in a GP-Led restructuring in Spain.
Advising investment banks and funds like Deutsche Bank AG London Branch and JB Capital in participation schemes.
Advising CA-CIB in a rated European factoring agreement together with La Banque Postale.
Universidad Carlos III (Law -First Class Honours) 2005
Universidad Carlos III (Business Administration – First Class Honours) 2005
Universidad San Pablo CEU (PhD Courses) 2009
IESE Business School (EMBA) 2013
Joined Clifford Chance in 2020
Partner since 2026
Awards and citations
Chambers Europe 2026 - Capital Markets: Securitisation & Derivatives
"Leonardo Fernandez is extremely good to work with due to his positive and solution-oriented approach."
"He is able to anticipate the points that are commercially important and sensitive."
"Leonardo Fernandez's commercial understanding and deep familiarity with the local regulatory and structuring landscape are invaluable and have consistently stood out."
‘Leonardo Fernández is an exceptional lawyer and a trusted adviser through all stages of the transaction. His communication with other transaction participants is exceptional. He understands the importance of getting the deal done.’ THE LEGAL 500 RANKINGS 2024
Leonardo Fernández Rodríguez is very responsive and practical, and I appreciated the good working relationship he maintained with opposing counsels, which often prevented legal issues from becoming commercial bottlenecks. THE LEGAL 500 RANKINGS 2023
