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Clifford Chance has advised on the issuance of Emirates NBD's inaugural Digitally Native Notes denominated in AED and clearing through Euroclear D-FMI

Mon, 19 Jan 2026 09:13:10 GMT

The Digitally Native Notes were cleared and settled on Euroclear's D-FMI, the part of the Euroclear system by means of which the settlement of issuance, transfers and redemption of digitally native notes and related payments are recorded. The Digitally Native Notes have been rated A+ by Fitch and A1 by Moody's and shall be admitted to trading on Nasdaq Dubai with effect from on or around 16 January 2025. ENBD Capital, First Abu Dhabi Bank, Mashreqbank and Standard Chartered Bank acted as joint lead managers on the transaction.

The transaction, representing the third in the MENAT region, adds to Clifford Chance's growing roster of digital bond transactions – with the team having recently advised on the first ever digital gender bond by Akbank as well as the first issuance of digital notes with SOFR-based interest by Doha Bank.

The international Clifford Chance team advising on the transaction was led by Stuart Ure (Head of Middle East Capital Markets), Alexander Tollast (counsel), and Alekhya Prakash (counsel), with support from Veronica Valerio (associate), Alvin Boateng (trainee) and Lea Assaf (trainee).

Partner Stuart Ure said, "We are privileged to have been a part of this ground-breaking transaction which marks growing confidence in the region in digital bonds and, in particular, contributes to further deepening the domestic capital markets given the AED denomination and DFSA/Nasdaq Dubai listing and trading. We are also delighted to have supported Emirates NBD with their innovative funding platforms and strategies".

The Clifford Chance team advising Citibank N.A., London Branch as DNN Agent and Fiscal Agent consisted of Partner Bruce Kahl, Andrew Whelan and Callum Florence.

18ème Bourse d'Excellence Clifford Chance | École de droit de Sciences Po

Fri, 16 Jan 2026 16:13:00 GMT

Cette année, la bourse a été attribuée à Noémie Deus, actuellement en 1ère année du master Droit économique à l'École de droit de Sciences Po.

« Je remercie profondément le cabinet Clifford Chance pour l’immense soutien apporté à mon projet dont il fait preuve en m’accordant le titre de lauréate pour cette 18ème édition. Cette marque de confiance représente une reconnaissance des efforts que j’ai pu fournir jusqu’alors dans mes études, et me permettra de me consacrer sereinement à celles-ci ainsi qu’à la construction de mon projet professionnel. Surtout, je suis honorée de pouvoir nouer des liens d’autant plus forts avec ce cabinet que j’admire et au sein duquel je bénéficie également du programme de mentorat. » a déclaré Noémie Deus.

Les candidats à la bourse sont dans un premier temps présélectionnés sur dossier avant d'être conviés à un entretien individuel, qui leur permet de présenter leur projet à la fois professionnel et personnel. Le jury était composé de deux représentants de Sciences Po : Julie Klein, doyenne de l'École de droit, et Julie Babin d'Amonville, Directrice exécutive de l'École de droit, ainsi que de trois représentants du cabinet Clifford Chance : Charles-Henri Boeringer et Milica Zatezalo-Falatar, associés, ainsi que Romain Cavrois, Ressources Humaines.

Clifford Chance advises Vantage Data Centers on further issuance in relation to its Welsh data centres

Thu, 15 Jan 2026 14:57:00 GMT

The transaction builds on what was the first data centre asset backed securitisation in Europe on which Clifford Chance advised in 2024.

The cross-practice team was led by Partner and Head of Global Financial Markets Emma Matebalavu and Director Tom Capon, with support from Kenrick Wong and Haylee Cheam (Structured Debt), Jemma Dick, Cameron Dwyer and Marco Montanaro (Tax); Alex Pennington, Justin Wong (Real Estate); Matt Fairclough, James Kelton and Domenico Cullara (Debt Capital Markets); Sarah Boyd, Francesca Warren and Verinda Sohal (Corporate); Matt Lyons and Stuart Stahl (US Securities) and project management support from Hua Li.

This project underscores the firm’s deep experience and integrated, full-service capability in advising on every stage of the data centre lifecycle.

Clifford Chance advises Aikido Security on its Series B fundraising

Wed, 14 Jan 2026 14:54:00 GMT

Aikido Security is one of Europe's fastest growing software companies, focusing on cybersecurity solutions for developers. This transaction, raising $60m at a valuation of $1bn, represents a significant milestone in its growth.

Our team was led by counsel Gillis Waelkens, with associates Sébastien Nerincx and Maxime Vander Motten, and support from partner Patrice Viaene. Clifford Chance previously supported Aikido Security on its Seed and Series A fundraising rounds.

Clifford Chance advises International Chemical Investors Group on the acquisition of Venator’s business operations in Duisburg

Wed, 14 Jan 2026 09:29:39 GMT

ICIG is a globally active industrial group focused on mid-sized chemical and pharmaceutical companies. The group most recently generated revenues of more than €3 billion and employs approximately 6,000 people worldwide. Since its founding in 2005, ICIG has grown through acquisitions, with a particular focus on acquiring niche specialists.

The Clifford Chance comprised partners Volkmar Bruckner, Samuel Frommelt and associate Mona Fuchs (all Corporate/Private Equity, Munich), counsel Harald Amer (Restructuring, Munich), partner Christopher Fischer (Employment, Frankfurt), partner Mathias Elspaß and associate Louisa Busch (both Corporate/Energy, Düsseldorf), counsel Martin Barlösius and associate Miriam Sax (both Real Estate, Munich), senior associate Arne Gayk (Antitrust, Düsseldorf) as well as team members from Clifford Chance offices around the globe.

Clifford Chance advises banking consortium on €135 million project financing for renewable energy portfolio in Spain from ENCAVIS

Wed, 14 Jan 2026 09:29:00 GMT

The Aragón portfolio has a total capacity of 199 MW and consists of three wind farms with a combined output of approximately 142 MW and two photovoltaic (PV) plants totaling 57 MW.

Clifford Chance has advised ENCAVIS as well as its lenders on a number of transactions in the solar and wind energy sectors across various European countries.

The Clifford Chance team advising on this transaction was led by partner Christof Häfner and comprised senior associates Franziska Buchholz and Christopher Banks and partner David Neu (all Global Financial Markets, Frankfurt and Munich), associates Levin Becker and Jeffrey Arthur, senior transaction lawyer Sonja Lukner and transaction lawyer Lisha Xu (all Global Financial Markets, Frankfurt), partner José Guardo, associate Pablo Cancelo and trainee lawyer Sofía Riaño (all Global Financial Markets, Madrid) as well as partner Hein Tonnaer and associate Burak Dasdemir (both Global Financial Markets, Amsterdam).

Clifford Chance advises Brookfield on €1 billion holdco financing facility for DayOne's hyperscale data centre expansion

Wed, 14 Jan 2026 07:10:00 GMT

The seven-year facility, secured by DayOne’s Finland platform, will support the rollout of its hyperscale developments in Lahti and Kouvola, which will provide nearly 300MW of planned capacity across Finland. Structured as a secured holdco financing facility of €500 million, expandable to €1 billion with mutual agreement, the proceeds will also support DayOne's global expansion across the EU and APAC, with flexibility to allocate to other key growth markets as required.

Partner Tom England, senior associate Jitr Vilaivongse and associate Brian Wang advised Brookfield on this transaction. Partner Matthew Buchanan, senior associate James Thornton and associate Thomas Hobbs Martin advised on project finance aspects. Partner Shaun Langhorne and senior associate Jasmine Wales advised on restructuring aspects.

Tom said, "What differentiates this deal from almost every other data centre holdco financing in the region is the level of flexibility. Whilst most single-asset holdco financings are tied to the same controls and end-use as the senior debt, the Brookfield facility offers broad discretion over use of proceeds – including the ability to allocate across the wider DayOne group – as well as dynamic drawdown options to fund alternative projects in line with DayOne's future capital requirements, supported by an accordion feature. Combined with a balanced approach to asset-level controls, this product will become a sought-after solution for operators and developers as platforms and financing needs scale."

Clifford Chance has advised on several major transactions involving digital infrastructure globally, including the €3.3 billion financing of Brookfield-owned DATA4's European data centres, PIMCO funds on its investment to develop Meta's Hyperion Data Center in the US, and Yondr Group on its over US$900 million project financing for hyperscale data centres in Malaysia.

Clifford Chance advises on TotalEnergies' successful SEC-registered US$3.5 billion bond issuance across three tranches

Tue, 13 Jan 2026 16:55:00 GMT

The bond issuance featured three tranches of fixed-rate notes, with maturities ranging from five to 10 years.

TotalEnergies, listed on Euronext and the NYSE, is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity.

The global Clifford Chance team was led by Trevor Lavelle and Om Pandya in Houston and Olivier Plessis in Paris, with key support from Jake DuCharme in New York, Trey Oxendine in London, Johnathan Walker in Houston, and Cedric Burford, Auriane Bijon and Baya Hariche in Paris. Additional support was provided on US and French tax matters by Avrohom Gelber and Jihyun Lee in New York and Alexandre Lagarrigue, Pierre Goyat and Hanene Zemir in Paris.

Clifford Chance advises on Orange's successful inaugural Rule 144A USD 6 billion bond issuance across five tranches

Tue, 13 Jan 2026 16:24:33 GMT

The bond issuance featured five tranches of fixed-rate notes, with maturities ranging from three to thirty years.

Orange plans to use the proceeds for general corporate purposes, which may include the repayment of certain outstanding indebtedness of MasOrange to be assumed in connection with Orange’s acquisition of the remaining 50% of MasOrange.

Orange is one of the world’s leading telecommunications operators with revenue of €19.9 billion in the six-month period ending June 30, 2025, and approximately 124,600 employees worldwide at June 30, 2025.

The Clifford Chance team was led by Olivier Plessis, with key support from Jill Concannon, Natasha Sarna and Tara Kade in London and Cedric Burford, Auriane Bijon, Baya Hariche and Santiago Ramirez in Paris. Additional support was provided on US and French tax matters by Avrohom Gelber in New York and Pierre Goyat, Hanene Zemir and Andréa Pilisi in Paris.

Clifford Chance advises Aware Super on its investment in the €2.6 billion European Outlet Mall Venture platform

Tue, 13 Jan 2026 10:50:00 GMT

The EOMV platform owns and operates four outlet malls worth c.€2.6bn in total, spanning the Netherlands, Austria and Italy. The four outlet centres comprise 163,523 square metres of retail space with 24.6 million annual visits, including Serravalle Designer Outlet in Italy (which ranks among Europe's top three outlets), Castel Romano Designer Outlet in Italy and certain phases at both Designer Outlet Roermond in The Netherlands and Designer Outlet Parndorf in Austria. This strategic investment reflects Aware Super's geographical diversification strategy and selective re-entry into retail.

The cross-practice Clifford Chance team was led by Corporate Partner Riaz Pirmohamed, supported by Associates Liam Porritt, Alice Butcher and Jeremy Pui.

Angela Kearns, Partner; Zain Farook, Senior Associate; and Vivian Griffiths, Associate, advised on the property aspects of the transaction. Tax advice was provided by Edward Page, Partner, and Viktoria Parkhomenko, Senior Associate. The wider team consisted of colleagues across Antitrust, Corporate, Real Estate, Global Financial Markets and Employment, including Sue Hinchliffe (Antitrust), Saskia Myners (Corporate), Claudio Cerabolini (Real Estate) and Liesbeth Buiter (Real Estate), all Partners.

Clifford Chance advises on GigaDevice Semiconductor's IPO and Listing in Hong Kong

Tue, 13 Jan 2026 10:07:00 GMT

GigaDevice is a fabless semiconductor company that develops a wide range of chips, systems and solutions, including corresponding algorithms and software, used in the consumer electronics, automotive, industrials, computing and network communications sectors. GigaDevice has been listed on the Shanghai Stock Exchange since 2016.

Partners Tianning Xiang and Jean Thio co-led the transaction with support from counsel Erxin Lu, senior associate Yuer Shao, associates Daisy Wang and Ke Shi, as well as trainee solicitors Ziyi Fan, Chubin Liu and Pu Wang, paralegal Jay Lee, legal analysts Zixin Zhang and Yueyang He.

Tianning said, "We are delighted to support GigaDevice on its successful listing, which affirms Hong Kong’s position as the bridge between China's semiconductor innovators and global investors."

Clifford Chance has advised on the successful H-share listings of various Mainland China-listed companies including SANY Heavy Industry (one of the largest in 2025), SICC, Joyson Electronics, Anjoy Foods, Foshan Haitian and Zhejiang Sanhua Intelligent Controls.

Clifford Chance strengthens private capital offering with addition of private equity partner Michal Netanyahu in US

Mon, 12 Jan 2026 15:15:00 GMT

Joining from Freshfields, Netanyahu represents private equity sponsors and their portfolio companies on a broad range of matters including cross-border M&A, leveraged buy-outs, investments, divestitures, joint ventures, equity financings and restructurings.

Jonny Myers, Global Head of Private Equity, said, "Michal's rich track record advising private equity sponsors and growth equity funds will create advantage for our clients globally, helping them navigate US and multijurisdictional transactional, regulatory and market complexities with precision. We are delighted to welcome her to the team."

Americas Head of Corporate Ben Sibbett says, "As we continue to build out our private equity bench in the US, Michal's deep understanding of the market and sponsors that drive it will translate directly to tailored solutions for clients."

Netanyahu said, "Clifford Chance has an incredible transactional platform. I'm excited to join such a collaborative, innovative team and contribute to the firm's continued growth in the US and globally."

The addition of Netanyahu reflects the firm’s continued expansion of its growing US private capital platform, marking the fifth addition to team in the past twelve months.

Clifford Chance advises Eiffel Investment Group on strategic investments in Poland

Mon, 12 Jan 2026 11:27:00 GMT

R.Power Renewables and Eiffel Investment Group are strengthening their partnership with new strategic investments across Europe.
The Clifford Chance team was led by Aleksandra Rzegocka and Aleksandra Bartoszewicz, Senior Associates, and included Kinga Grzelczak and Krzysztof Burda, Associates. Marta Michałek-Gervais (Senior Associate) and Kamila Hora (Associate) advised on antitrust aspects. The team was supervised by Paweł Puacz, Partner.

Clifford Chance advises Edison Next S.p.A. on the disposal of its entire stake in Edison Next Poland and Edison Next Poland Services

Mon, 12 Jan 2026 09:14:00 GMT

The Clifford Chance team comprised Krzysztof Hajdamowicz (Counsel), Nick Fletcher (Of Counsel), Katarzyna Kuchta (Senior Associate), Weronika Mietła (Senior Associate), Kamila Świerk (Associate) and Zuzanna Paliwoda (Trainee).

Clifford Chance strengthens global private capital offering with Luxembourg funds hire

Mon, 12 Jan 2026 07:45:00 GMT

Matthias Kerbusch, who began his career at Clifford Chance, rejoins the firm from Dechert. He advises international and domestic clients on the formation and restructuring of Luxembourg-based investment funds with a focus on alternative asset classes (including retail funds in private assets) and on LP due diligence work for international institutional investors.

Katia Gauzès, Managing Partner of Clifford Chance’s Luxembourg office, said: "We’re pleased to welcome Matthias back to Clifford Chance. His experience in Luxembourg fund structures and understanding of the local regulatory environment will be a valuable addition to our team, reinforcing our commitment to delivering high quality fundraising and regulatory advice for our clients."

Alex Davidson, Global Head of Funds and Investment Management, added: "Matthias' arrival further strengthens our leading global funds practice, which is central to our broader private capital strategy. His expertise across asset classes and product types aligns perfectly with the holistic service we deliver to clients, and we are delighted to welcome him back."

Matthias Kerbusch commented: "It’s an immense pleasure to return to Clifford Chance and rejoin a team I know well and worked with very successfully in the past. The firm’s integrated global platform and collaborative culture support clients with innovative and commercially focused fund solutions which is perfectly aligned with my client basis. I look forward to contributing to and further growing a practice that delivers results for clients in Luxembourg and globally."

Clifford Chance’s Global Private Capital team comprises over 1,450 lawyers across Europe, the US, Asia Pacific, the Middle East, and Africa.

The firm continues to strengthen its teams to meet growing global client demand, with recent lateral hires including Bruce Embley, Emma Ghaffari, Patrick Scott and Annie Lewis in London; Andrea Gede-Lange, Vince Ferrito, David Schultz and Matthew Hinker in New York; Jamie McLaren in Singapore; and Arnaud Fromion and Frédéric Guilloux in Paris.

Clifford Chance conseille Emil Frey France dans le cadre de la cession de Aurilis Group (Flauraud) à FairCap

Fri, 09 Jan 2026 11:08:00 GMT

Portée par une expertise forgée depuis 1932, l’activité de Flauraud, aujourd’hui basée à Clermont-Ferrand, rassemble près de 345 collaborateurs et s’appuie sur un réseau de plus de 25 points de vente à l’échelle nationale.

L’équipe de Clifford Chance était composée de Delphine Caramalli, associée, et Louis Nerson, avocat, sur les aspects restructuring, Laurent Schoenstein, associé, et Antoine Chomette, avocat, sur les aspects corporate, François Farmine, associé, sur les aspects de droit social, ainsi que d'Alexandre Manasterski, counsel, sur les aspects contrats commerciaux.

Clifford Chance has advised Generali on the corporate reorganisation of its group in Spain and Portugal

Thu, 08 Jan 2026 11:29:00 GMT

Clifford Chance’s advice covered all legal and regulatory aspects of the reorganisation, including corporate steps and the relevant authorisation or non-opposition procedures before the competent regulatory authorities. The reorganisation incorporated innovative mechanisms, such as the cross-border division, which is unprecedented in the insurance sector in both Spain and Portugal.

The completion of the transaction marks a strategic milestone in consolidating Generali’s business in Iberia and realising the synergies resulting from the acquisition of Liberty Seguros.

The Clifford Chance team advising Generali on this transaction was led by counsel Miguel Barredo and associate María Viñas, with support from senior associate Juan Valcárcel and of counsel Javier García de Enterría. Counsel Fernando Escribano provided tax advice in connection with the transaction.

For Portuguese law matters, Clifford Chance worked in collaboration with Morais Leitão.

Clifford Chance advises on advanced surgical robotics company Edge Medical's Chapter 18A IPO and Listing in Hong Kong

Thu, 08 Jan 2026 09:01:00 GMT

The listing is expected to raise approximately HK$1.2 billion, backed by several cornerstone investors including Abu Dhabi Investment Authority, UBS, Tencent, OrbiMed and ChinaAMC (Hong Kong).

Founded in 2017 in Shenzhen, Edge Medical is an advanced surgical robotics company in the medical device industry, dedicated to designing, developing and manufacturing surgical robots for minimally invasive surgery, as well as non-invasive surgery. It is the first company in China and second globally to receive registration approvals of all of its multi-part endoscopic, single-port endoscopic and natural orifice surgical robots.

Partner Fang Liu said, "Edge Medical's listing reflects the depth of China's medtech sector, showcasing innovation in surgical robotics, as well as the strength of Hong Kong's biotech listing platform. We leverage deep biotech expertise and proven Chapter 18A experience to guide clients through every stage of these landmark listings. These transactions are vital to scaling life science breakthroughs globally and central to Hong Kong's strategy to build world class champions."

Partners Fang Liu and Virginia Lee led the transaction with support from counsel Janet Fok, senior associates Ran Bi and Ryan Ho, associates Ruoyu Xiong, Choo Jun Kai, Phoebe Yan Ting Lo and Grace Wang*, legal assistant Minting Luo, trainee solicitor Carina Tan, paralegals Pascal Chan and Jay Lee.

Clifford Chance is a leading adviser of pharmaceutical, biotech and healthcare companies, having advised most recently on the listings of B&K Corp, Ab&B Bio-Tech and Lepu Biopharma.

* From Shanghai He Ping Law Firm. Clifford Chance LLP and Shanghai He Ping Law Firm have established a Joint Operation in the China (Shanghai) Pilot Free Trade Zone under the name Clifford Chance LLP and Shanghai He Ping Law Firm (FTZ) Joint Operation Office with the approval of the Shanghai Bureau of Justice.

Clifford Chance Advises Nofar USA in Successful US$285 Million Bid to Acquire 1GW Solar Portfolio in Chapter 11 363 Sale

Tue, 06 Jan 2026 15:18:00 GMT

Global law firm Clifford Chance advised Nofar USA, LLC in connection with its successful US$285 million bid by its subsidiary, Nofar USA Energy Investments and Management LLC, to acquire a portfolio of nearly 1GW of utility-scale solar projects from Pine Gate Renewables and certain of its affiliates.

Nofar's bid was submitted as part of a sale process approved by the U.S. Bankruptcy Court for the Southern District of Texas under Section 363 of the Bankruptcy Code in connection with Pine Gate Renewables filing for Chapter 11 bankruptcy in early November 2025. Pine Gate designated Nofar as the winning bidder on December 30, 2025 and the Bankruptcy Court approved the sale on January 5, 2026, following a sale hearing on January 5, 2026. The sale is expected to close in the first quarter of 2026, subject to receipt of required regulatory approvals and satisfaction of customary conditions.

Nofar USA, LLC is a wholly-owned subsidiary of O.Y. Nofar Energy Ltd., a global renewable energy developer and independent power producer with a multi-GW portfolio across the UK, Germany, Spain, Italy, Poland, Romania, Israel, and the United States. Nofar's bid acquisition of Pine Gate’s portfolio would represent a significant addition to its holdings in the United States, following closely on its acquisition of a 1GW solar development pipeline earlier this year.

Energy & Infrastructure partner Shellka Arora-Cox commented, "We are proud to have supported Nofar USA on this important transaction, which underscores both their commitment to the US renewables market and the strength of our cross-practice team at Clifford Chance. This successful outcome reflects the dedication and experience of our colleagues across multiple disciplines, working seamlessly to deliver for our client in a complex and competitive process."

Arora-Cox led the cross-office and cross-disciplinary team, working closely with associate Henry Myers. The wider team consisted of:

Corporate: Partners Enoch Varner, Cephas Sekhar, associates Amrine Sultana, Shaq Taylor and James Kleine
Restructuring: Partners Brian Lohan and Matthew Hinker and associate Madelyn Nicolini
Project Finance: Partner Alexander Leff, counsel Lauran Smith, and associates Erin Drolet, Brianna Jones-Rich, Karim Lalji, Adele Irwin, Isabella Blosser, and Phil Reens
Energy Regulatory: Partner Marcia Hook, counsel Heather Feingold, and associate Nicholas Johnson
Tax: Partner Todd Lowther and associate Jihyun Lee
CFIUS: Partner Renee Latour and associate Erica Hackett
Antitrust: Partner Brian Conklin, counsel Lauren Rackow, and associate Eva Kurban
Real Estate: Partner Jon Newman, counsels Meny Elgadeh and Vicky Manthas, staff attorney Dan Copland, associate Nick Mitchell and law clerk Michelle Mullin
Environmental Regulatory: Partner Ty'Meka Reeves-Sobers and associate Kami McFarland
Employment: Partner Reuven Falik and counsel Meghan Fox

Clifford Chance advises a syndicate of lenders on the £364 million debt refinancing of Newcastle International Airport

Mon, 05 Jan 2026 14:08:00 GMT

The Clifford Chance team was led by partner Julia House, working closely with director Kate Mccomiskey, and associate Nourhan Marouf. Hedging support was provided by Will Winterton and Artur Gladysz; whilst Jemma Dick and Marco Montanaro advised on tax elements.