International law firm Clifford Chance has advised Mapfre on a liability management exercise over Tier 2 notes, as well as on a new issuance of Tier-2 subordinated notes for a nominal amount of EUR 500 million. The new issuance was carried out through Mapfre’s recently established EMTN Programme, which gave flexibility in the execution of the deal.
The deal allows Mapfre to efficiently manage its solvency base and optimise its debt profile and liquidity position.
The Clifford Chance team that advised on the transaction was led by Francisco Pizarro and included associates Enrique Pais and Alejandro Gómez-Coronado.
This deal reinforces Clifford Chance’s position as the firm of reference for regulatory capital deals in the insurance industry.
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