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Ben Crosse

Partner, Global Co-Head of Banking, Madrid

"I have over 20 years’ experience of advising on the full spectrum of complex financing and restructuring transactions in Europe. I offer a legally sound, commercial and flexible approach to advising major banking and corporate clients on their most strategically critical deals. I am multilingual and well versed in both English and European transaction structures to bridge cultural gaps and practical differences that inevitably arise in transactions."

Overview

Professional experience

Education and qualifications

Overview

Ben is an English law partner and global co-Head of the Banking Practice of Linklaters in Madrid.

He is currently actively involved in complex financial and corporate restructurings, and he has experience advising both investment banks and corporate clients in a wide range of banking transactions, including private equity leveraged financing, investment grade lending and real estate financing.

Chambers ranks him as a leading individual among UK/US-qualified experts practicing in Spain, describing him as one of the most experienced English lawyers based in Spain, who is incredibly well-reputed and has an impressive track record. Clients report that Ben has an in-depth knowledge of financing structures and possesses an excellent understanding of finance law. He is also recognized as highly capable and a clear market leader. According to client sources, he is a “very reliable expert with a commercial vision and a pragmatic approach that helps implement business-oriented solutions,' highlighting that he “is creative and able to find a compromise between stakeholders” and that “his high expertise in financing is accompanied by remarkable empathy. He is always calm and confident”. Moreover, they note that "he generates comfort, which is what one looks for in a partner."

 

Legal 500 ranks him as a leading individual in Banking and Finance and Restructuring and insolvency.

 

Work highlights

Ben’s prior experience includes:

  • Advising BNPP and a syndicate of lenders on a €1bn financing of Dorna Sports for the purposes of refinancing the existing €840m term-loan and a dividend distribution to its shareholders.
  • Advising Bridgepoint on the financing for the €700m acquisition of Windar Renovables.
  • Advising Vauban CAA on the financing for the acquisition of a 45% stake of BlueVia.

  • Advising Pemberton as lender on the financings for the acquisitions of the Ayesa Group and the financing of the acquisition by Ayesa Group of Ibérmatica.

  • Advising Lecta on the implementation of a comprehensive refinancing package to further strengthen and protect its balance sheet and to raise significant new capital to fund the further transformation to “Specialty” papers.

  • Advising a syndicate of lenders on a SGD1bn term facility agreement for EDP - Energias de Portugal. The facility made available under that agreement is characterised as a "green loan".
  • Advising the banks on the recapitalisation and refinancing of DIA group.
  • Advising Abengoa on its global restructuring and several subsequent refinancings.
  • Advising Tendam on the issuance of €300m senior secured floating rate notes and a €130.9m term loan, together with a €174.2m revolving credit facility, the last two sustainability-linked facilities.
  • Advising OHL on its debt refinancing and continued negotiation with its lenders and bondholders.
  • Advising Naviera Armas Group on its financial and capital restructuring.

Professional experience

Ben has been based in the firm’s Madrid office since 2004. He has also worked in the firm’s London and Paris offices on cross-border transactions. He was seconded to the leveraged finance equity sponsors group of Credit Suisse First Boston for six months in 2002. 

Education and qualifications

Ben holds a Master’s degree in Mediaeval History and French from the University of St. Andrews and a Certificat d’Etudes Politiques from L’Institut de Sciences-Politiques of Paris.