Clifford Chance has advised CaixaBank on its successful tender offer to the holders of its existing EUR 1 billion contingent convertible preferred securities. Caixabank purchased up to EUR 605 million of the existing preferred securities pursuant to the tender offer, in a transaction that was the first to test the new Iberclear settlement regime for debt cash tender offers.
In addition, Clifford Chance advised CaixaBank on the concurrent issue of EUR 750 million new contingent convertible preferred securities, which have been admitted to trading on AIAF Mercado de Renta Fija (the Spanish fixed-income regulated market).
With this innovative and groundbreaking transaction, Clifford Chance has further cemented its leadership position in Spanish capital markets.
Our team was led by Global Financial Markets partners Antonio Henriquez and JosĂ© Manuel Cuenca and senior associate Francisco Pizarro who were supported by associates Anna Buscaglia, Enrique Pais, Yago LĂłpez and LucĂa DomĂnguez.
