Clifford Chance has advised BNP Paribas and J.P. Morgan SE as dealer managers as to matters of English law, Spanish law and Dutch law in connection with the successful offer by Atradius Finance B.V. to the holders of its outstanding €250 million Fixed to Floating Rate Guaranteed Subordinated Notes due 2044 to purchase their notes for cash, and has advised J.P. Morgan SE as sole structuring agent and joint lead manager, together with BNP Paribas as joint lead manager, as to matters of English and Spanish law on the inaugural issue by Atradius Crédito y Caución S.A. de Seguros y Reaseguros (ACyC) of €300 million Fixed Rate Subordinated Notes due 2034.
This complex transaction was structured so that the new securities would be eligible for inclusion as Tier 2 capital of ACyC.
The Clifford Chance team was led by English Capital Markets Partner Antonio Henriquez, with the support of Senior Associate Francisco Pizarro as to matters of Spanish law. The team was completed by Associate Anna Buscaglia as to matters of English law and Associate Javier López as to matters of Spanish law. On matters regarding Dutch law, the Clifford Chance team was led by Partner Jurgen van der Meer with the support of Counsel Dewi Walian.
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