Clifford Chance has advised BNP Paribas, J.P. Morgan SE and Société Générale, as dealer managers, on matters of English law, Dutch law and Spanish law in connection with the offer by Abertis Infraestructuras Finance B.V. to the holders of its outstanding EUR 1.25 billion Undated 5.25 Year Non-Call Deeply Subordinated Guaranteed Fixed Rate Reset Securities, to purchase their notes for cash.

Clifford Chance also advised the managers, including BNP Paribas and J.P. Morgan SE, as joint global coordinators, on matters of English law, Dutch law and Spanish law relating to the issuance by Abertis Infraestructuras Finance B.V. of EUR 750 million Undated 5.25 Year Non-Call Deeply Subordinated Guaranteed Fixed Rate Reset Securities.

This transaction was Abertis Infraestructuras Finance B.V.’s first hybrid bond issuance to be structured as a drawdown under the Abertis Infraestructuras Finance B.V. and Abertis Infraestructuras, S.A. EUR 12 billion Guaranteed Euro Medium Term Note Programme.

The Clifford Chance team that advised on the transaction was led by English Capital Markets partner Antonio Henriquez, with the support of associate Anna Buscaglia and trainee solicitor Rose Cocks on matters of English law. On matters regarding Dutch law, the Clifford Chance team was led by partner Jurgen van der Meer and counsel Dewi Walian, with the support of trainee lawyer Bart Stuyfzand. On matters relating to Spanish law, the Clifford Chance team was led by senior associate Francisco Pizarro, with the support of associate Enrique Pais.