Clifford Chance has advised CaixaBank, S.A. on its issue of convertible preferred securities (participaciones preferentes) intended to qualify as additional tier 1 instruments (EUR 750,000,000 Perpetual Non-Cumulative Contingent Convertible Additional Tier 1 Preferred Securities). The preferred securities are expected to be admitted to trading on AIAF Market (the Spanish fixed-income regulated market).

This transaction is further evidence of Clifford Chance’s solid regulatory capital markets practice.

Our advising Capital Markets team was led by Partner Yolanda Azanza, who was supported by Senior Associate Francisco Pizarro and Junior Associate Mariana Ceballos.