Abertis Leverages Clifford Chance for Hybrid Bond Deal
Deal News | Dec 05, 2024 | Iberian Lawyer
Clifford Chance, a leading international law firm, has played a pivotal role in advising BNP Paribas, J.P. Morgan SE, and Société Générale on legal matters for Abertis Infraestructuras Finance B.V.'s recent financial activities. The firm guided these dealer managers on English, Dutch, and Spanish legal issues in connection with Abertis' tender offer to repurchase its €1.25 billion hybrid securities. Additionally, Clifford Chance provided counsel for the issuance of €750 million in undated deeply subordinated fixed rate reset securities, a strategic move inscribed under the €12 billion Abertis' Euro Medium Term Note Programme. The engagement represents Abertis' inaugural hybrid bond issuance structured as a drawdown under this program. Clifford Chance’s multi-jurisdictional advice exemplifies comprehensive legal support in complex capital market transactions. English, Dutch, and Spanish legal expertise was delivered by a team of partners, associates, and trainees led by Antonio Henriquez, Jurgen van der Meer, and Francisco Pizarro respectively, showcasing the firm's adept handling of international legal frameworks.
Sectors
- Financial Services
- Legal Services
Geography
- Spain – Abertis Infraestructuras Finance B.V. is associated with Spain, and Spanish law was crucial in the transaction.
- Netherlands – Abertis Infraestructuras Finance B.V. is a Dutch incorporated entity, involving Dutch legal aspects.
- United Kingdom – Clifford Chance provided advice concerning English law, indicating the involvement of the UK jurisdiction.
Industry
- Financial Services – The article involves financial services, focusing on bond issuance and tender offers facilitated by major financial institutions like BNP Paribas and J.P. Morgan.
- Legal Services – Clifford Chance, a law firm, is prominently involved in advising on complex multi-jurisdictional legal aspects of the financial transactions.
Financials
- €1.25 billion – The value of the tender offer for purchasing outstanding hybrid securities.
- €750 million – The amount of the new hybrid bond issuance under Abertis' program.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Clifford Chance | Legal Advisor | Company | An international law firm advising on English, Dutch, and Spanish legal matters. |
| Abertis Infraestructuras Finance B.V. | Issuing Company | Company | A financial entity involved in issuing the bonds under the Euro Medium Term Note Programme. |
| BNP Paribas | Dealer Manager | Company | One of the global financial institutions involved in managing the securities transaction. |
| J.P. Morgan SE | Dealer Manager | Company | A leading global financial services firm participating in the transaction. |
| Société Générale | Dealer Manager | Company | A major French financial institution acting as a dealer manager in the transaction. |
| Antonio Henriquez | English Capital Markets Partner | Person | A partner at Clifford Chance who led the transaction on matters of English law. |
| Jurgen van der Meer | Partner | Person | Led the Clifford Chance team on Dutch law matters. |
| Francisco Pizarro | Senior Associate | Person | Led the Clifford Chance team concerning Spanish law. |