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Clifford Chance advises on ReNew’s first-of-its-kind green bond issuance via India's GIFT City

Tue, 03 Feb 2026 10:22:00 GMT

The 6.50% senior secured notes due 2031 are guaranteed by Nasdaq-listed ReNew Energy Global plc, one of India’s leading renewable-energy producers, and also to be guaranteed by its subsidiary, ReNew Private Limited.

Barclays Bank PLC, BNP Paribas, Deutsche Bank, HSBC, J.P Morgan, MUFG and Standard Chartered Bank were joint global coordinators, as well as bookrunners with Credit Agricole CIB, DBS Bank Ltd and SMBC Nikko.

Lead partner Alan Yeung who specialises in high yield and investment grade debt issuances said, “We are delighted to advise on this landmark transaction, which not only marks the first international bond issuance from GIFT City but also sets a new benchmark for Indian corporates seeking efficient access to global capital markets. By leveraging the benefits of the GIFT City structure, this issuance demonstrates the growing sophistication and internationalisation of India’s debt capital markets, paving the way for increased cross-border fundraising activities.”

Alan led the deal and was supported by counsel Stephanie Liman, associate Jun Kai Choo and trainee solicitor Alfie Harvey-Shipp.

Clifford Chance He Ping advises ICMA on GMRA filing for People's Bank of China – advancing internationalisation of China's bond market

Mon, 02 Feb 2026 02:32:00 GMT

Following the PBOC’s recognition of the GMRA filing, international investors will be able to use the GMRA to execute bond repurchase transactions in the China Interbank Bond Market (CIBM). This is a significant step in the opening-up of the PRC bond market and advancing Hong Kong’s Fixed Income and Currency (FIC) roadmap, strengthening connectivity between global markets and China, and creating new opportunities for cross-border investment and liquidity.

The team led by partner Terry Yang included Kimi Liu and Jane Chen.

Terry Yang, partner at Clifford Chance, commented: "This recognition by the PBOC marks a major milestone for global market participants. It provides legal certainty for cross-border repo transactions and reinforces Hong Kong’s role as a gateway to China’s financial markets."

Kimi Liu, international partner at Shanghai He Ping Law Firm*, added: "We are delighted to have supported ICMA in achieving this important development. We look forward to working with market participants on repo netting, settlement arrangements and other regulatory initiatives that will drive the internationalisation of China’s bond market."

* 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

Read the jointly issued Announcement here.

Clifford Chance advises Apollo Commercial Real Estate Finance in sale of approximately US$9 billion commercial real estate loan portfolio

Thu, 29 Jan 2026 16:00:00 GMT

Following the repayment of ARI’s financing facilities and other indebtedness, as well as transaction expenses, ARI expects to receive approximately US$1.4 billion in cash in the transaction. ARI will also retain substantially all of the net equity interests in the real estate properties it holds, or approximately US$446 million as of September 30, 2025.

Partners Chang-Do Gong (M&A) and Andrew Epstein (Capital Markets/Corporate) led the team along with senior counsel Jay Bernstein (Capital Markets/Corporate). They were further assisted by partners Robert Chung (M&A) and Michael Seaton, counsel Hannah Richards (Tax) and Tae Ho Cho (Capital Markets), associates Marina Livingston, Maria Fernanda Gadea Rivera (M&A), Jake DuCharme (Capital Markets), Milica Pavlovic (Tax) and Dawn Goldberg (Real Estate), partner Gary Brooks (Finance) and admitted foreign lawyer Ariel Cohen.

Clifford Chance advises Nasdaq-listed SCHMID Group on the issuance of US$30 million convertible notes and warrants as well as on a US$27 million debt-to-equity swap

Wed, 28 Jan 2026 10:56:49 GMT

In addition, Clifford Chance has advised SCHMID Group on its debt-to-equity swap of approximately US$27 million liabilities to minority shareholder XJ Harbour HK Limited by issuing shares of the Company in a private placement that was agreed in November 2025 and was completed on 16 January 2026.

SCHMID Group is a Nasdaq-listed company and a global leader in providing solutions to the high-tech electronics, photovoltaics, glass, and energy systems industries. Since the SCHMID Group's Nasdaq listing in April 2024, Clifford Chance has acted as its US SEC counsel as well as its German and Dutch counsel on an ongoing basis.

The Clifford Chance team was led by partner Axel Wittmann (Global Financial Markets, Frankfurt), with support from partners Han Teerink (Corporate, Amsterdam) and George Hacket, counsels Andrei Manea (both Global Financial Markets, Frankfurt) and Serkan Özel (Corporate, Amsterdam), senior associate Carla Winslow-Kruger (Global Financial Markets, Frankfurt), associates Esmée Oldenkamp and Robert Bulte (both Corporate, Amsterdam) and transaction lawyer Lilli Neubauer (Global Financial Markets, Frankfurt).

Clifford Chance advises Daibiru Corporation on its acquisition of a major stake in London’s high-grade building “Warwick Court”

Wed, 28 Jan 2026 10:50:00 GMT

To read more please find Daibiru Corporation's press release here: Daibiru Corporation Acquires Major Stake in London’s High-Grade Building “Warwick Court”｜News ｜DAIBIRU CORPORATION

Angela Kearns, Real Estate Partner, commented:

"This is a significant investment for Daibiru as part of Daibiru Group's medium- to long-term management plan 2035 "BUILD NEXT." and adds another high-quality, well-located asset with strong ESG credentials to their portfolio. We are continuing to see appetite from Japanese private capital for amenity-rich office assets in the UK and this transaction supports London's position as one of the world's most attractive office markets."

The Clifford Chance team advising Daibiru was led by Real Estate partner Angela Kearns and included Real Estate Partner Matt Taylor, senior associates Alex Currie, James Law and Holly Porter. The wider team included Emma Ni Arrachtain supporting on Construction, Partner David Saleh and Director Simon Corzberg supporting on tax related aspects and Tokyo Partner Yoshiaki Shimizu on Japanese law aspects.

This transaction marks the second project in the UK for Daibiru Corporation, following the acquisition of Capital House at 85 King William Street, London for £169 million in July 2025 which the firm advised on.

Clifford Chance advises MTU Aero Engines AG on €600 million convertible bond issuance and tender offer

Wed, 28 Jan 2026 09:20:55 GMT

Under the tender offer, 92.88% of the outstanding convertible bonds (ISIN DE000A2YPE76) were repurchased at a final purchase price of 117.83404% per €100,000 nominal value.

The new convertible bonds were issued at par without interest. Unless converted earlier, they will be redeemed or repurchased at an accreted redemption amount of 105% of the principal amount at maturity. The bonds are convertible into no par value ordinary registered shares of MTU Aero Engines AG at a conversion price set at 47.5 % above the reference share price of € 392.0604, which reflects the volume weighted average price on XETRA on 8 January 2026.

The banking syndicate for the transaction comprised BNP PARIBAS, Deutsche Bank Aktiengesellschaft, and HSBC Continental Europe.

The Clifford Chance team was led by partner Cristina Freudenberger (Capital Markets, Frankfurt) and included partners Axel Wittmann (Capital Markets, Frankfurt), Christian Vogel and Dominik Heß (Corporate, Dusseldorf), counsel Henrik Gildehaus and transaction lawyers Lilli Neubauer and Felicitas Fischer (all Capital Markets, Frankfurt).

Clifford Chance advises THI Investments on the acquisition of the KarlsOffice office building in Stuttgart

Wed, 28 Jan 2026 08:59:00 GMT

The 11,340 sqm office building is located in the City West district and was constructed in two phases in 1997 and 2006. It benefits from excellent transport connections due to its proximity to the main S-Bahn line.

THI Investments is a family-owned company with its headquarters in Stuttgart and additional offices in London and Munich.

The Clifford Chance team advising THI Investments comprised partner Philipp Stoecker, senior associate Dominik Rauchenberger, associate Robin Molitor and senior transaction lawyer Sophie Töke (all Real Estate, Frankfurt), partner Dominik Engl, tax consultant Leonie Gebauer and transaction lawyer Jule Geiger (all Tax, Frankfurt and Munich), as well as partner Tobias Schulten (Global Financial Markets, Frankfurt).

Clifford Chance advises China's leading snack retailer Busy Ming on its HK$3.67 billion Hong Kong IPO and listing

Wed, 28 Jan 2026 08:58:00 GMT

Partners Tianning Xiang and Jean Thio co-led the transaction with support from counsel Claire Cao, senior associates Yuanyuan Cai and Yuhang Li, associates Xiao Tang, Rita Cao and Janssen Yang, trainee solicitors Zhongxiao Cong, Qianqian Bai and Yancy Hua.

Tianning said, "Working alongside Busy Ming, we've seen how they effectively deliver quality and value across such a vast nationwide network. Their successful debut today not only highlights the depth and dynamism of China's consumer market, but also marks the start of a new chapter for the company – enabling it to scale with more confidence and enhance its customer offering capabilities."

Busy Ming is a leading and fast‑growing food and beverage retailer in China, operating a nationwide network of over 19,000 stores across 28 provinces as of 30 September 2025 under its dual brands, Busy for You and Super Ming.

Pursuing its vision in bringing joy into daily life and creating a snack brand for the people, Busy Ming offers a broad range of affordable snacks and related products supported by an integrated supply chain. According to Frost & Sullivan, it is the largest snack and beverage chain retailer in China in terms of retail sales value in 2024, reflecting its scale, rapid expansion and strong consumer reach.

Clifford Chance has played a leading role in many of the market-defining transactions in the region's consumer and retail sector, including the Hong Kong IPOs of Foshan Haitian, Anjoy Foods, IFBH and Bloks.

Clifford Chance advises Rabo Partnerships on lead investment in Series B1 financing in Brazilian company Nagro

Tue, 27 Jan 2026 16:07:00 GMT

The investment in Nagro reflects Rabo Partnerships' mission to strengthen global food systems and financial inclusion across global emerging markets. This partnership will also support Nagro’s mission and expand its credit analytics offering to lenders across the value chain and scale its lending portfolio to small and medium-sized rural producers in Brazil. Learn more about the transaction here.

The Clifford Chance team advising on this transaction was led by Tim Heerschop and included Sabine van den Heuvel and Jasper Leistra (Amsterdam), Jeff Berman (New York) and Philip Angeloff (Washington, DC).

Clifford Chance advises Carrefour on the creation of an insurance joint venture with Mapfre in Spain

Tue, 27 Jan 2026 09:59:00 GMT

Carrefour and Mapfre have announced an exclusive collaboration agreement that will enable Carrefour to offer its customers Mapfre's insurance products. Mapfre will expand its distribution network, making available a comprehensive insurance offer to Carrefour customers and to more than 10.5 million members of El Club Carrefour (Carrefour's loyalty program). El Club Carrefour's members will receive personalised offers of Mapfre's insurance products and will benefit from savings accumulations (ChequeAhorro).

The Clifford Chance team that advised Carrefour was led by counsel Miguel Barredo and senior associate Juan Valcárcel, from the Corporate/M&A – Insurance team, with the support of counsel Samuel Rosas and associates Maria Vinas and Jimena Garrote, all from the Corporate/M&A team. In addition, partner Fernando Irurzun and associate Ainhoa Rey provided support on data protection aspects and senior counsel Begoña Barrantes was in charge of antitrust advice.

Clifford Chance advises Paragon Partners on the acquisition of BALDUR Garten

Fri, 23 Jan 2026 16:57:00 GMT

BALDUR is a digital direct-to-consumer platform for garden plants, headquartered in Bensheim.

Paragon was founded in 2004 and is one of Europe’s leading private equity firms. Paragon is headquartered in Munich and manages equity capital of more than €2.4 billion.

The Clifford Chance team comprised partners Volkmar Bruckner and Samuel Frommelt, associate Mona Fuchs (all Corporate/Private Equity, Munich); partner Christopher Fischer and associate Maximilian Schunder (both Employment, Frankfurt); counsel Martin Barlösius and associate Miriam Sax (both Real Estate, Munich); counsel Tobias Born (TechDigital, Frankfurt); counsel Gerson Raiser and associate Carla Schön (both Litigation, Frankfurt); counsel Nicolas Hohn-Hein and associate Marie-Ann Netz (both IP, Düsseldorf), as well as other Clifford Chance team members.

Clifford Chance advises lending consortium to BNZ on accordion increase of its portfolio financing

Fri, 23 Jan 2026 15:27:00 GMT

The original financing was recognized as "Power Deal of the Year 2024, EMEA" at the PFI Awards. The lending consortium for the increase comprised the leading renewable energy lending institutions- ABN AMRO BANK N.V., the European Investment Bank, NatWest Markets N.V. and SMBC Bank EU AG.

BNZ is an independent power producer that develops, builds, and operates renewable energy projects with 2+GW of investments across Spain, Italy and Portugal and the goal to produce 100% "renewable energy" to help the economy to achieve a greener future.

The Clifford Chance team was led by partner Christof Häfner and comprised counsel Jason London, senior legal project manager Mark Freake, local trainee lawyer Namrata Pandit and solicitor Andronikos Sgourovasilakis (all Global Financial Markets, Frankfurt), partner José Guardo, lawyers Marta Del Barrio, Enrique Pais and James Rodier (all Global Financial Markets, Madrid), associate Alessandra Ravazzolo, trainee lawyer Arianna Merlo (both Global Financial Markets, Milan), partner Carlo Galli and associate Mario Martignago (both Tax, Pensions & Employment, Milan), partner Hein Tonnaer, counsel Mike Niekoop, senior associate Lisa Ye (all Global Financial Markets, Amsterdam) as well as associate Jacie Lim (Global Financial Markets, Singapore).

Clifford Chance advises Kooi on acquisition of Video Guard

Fri, 23 Jan 2026 09:56:35 GMT

Kooi's acquisition will strengthen its position in the German market and improve its ability to provide scalable solutions, particularly in the construction and infrastructure sectors. Read more about this transaction here.

The cross-border Clifford Chance team was led by Jan-Hendrik Horsmeier, Jörg Rhiel, Ernst van der Touw and Paul Kohlhaas and included Nancy Stoke, Laura Bredschneijder, Holger Lutz and Michael Kümmel. Additional support was provided by team members in Amsterdam and Frankfurt.

Clifford Chance advises Czechoslovak Group on the largest-ever defence listing and largest European IPO since 2022

Fri, 23 Jan 2026 08:55:00 GMT

Clifford Chance provided comprehensive legal advice to CSG throughout the IPO process, covering corporate, capital markets, employment, regulatory and tax matters. The firm supported CSG from the early structuring and preparation phase through to execution, working closely with CSG’s management team and other advisers to deliver a smooth and efficient listing process.

Ladislav Štorek, General Counsel of CSG, said: “The IPO represents an important step in CSG’s development, and Clifford Chance provided invaluable support throughout what was a complex and high-profile transaction. The team combined technical excellence with a strong understanding of our business and strategic objectives.”

Christopher Roe, Partner at Clifford Chance, added: “We are proud to have advised CSG on its IPO and listing on Euronext Amsterdam. This step reflects the CSG group’s strong market position and ongoing growth, building on our earlier work advising CSG on its landmark 2 billion dual US dollar and euro bond issuance in 2025.”

CSG is owned by Czech entrepreneur Michal Strnad and is a leading defence group in terms of medium-, large- and small-calibre ammunition sales based in Prague. CSG focuses on the development and production of strategically important products, systems, and technologies in the fields of defence, ammunition and other related industries, such as aerospace. CSG's key portfolio companies are located in the Czech Republic, Germany, Slovakia, Spain, Italy, India, the United Kingdom and the USA.

The Clifford Chance team advising on the IPO was led by Chris Roe, Partner, Han Teerink, Partner, and Jill Concannon, Partner, with Miloš Felgr, Managing Partner, acting as a coordination and relationship partner for CSG. The core team also included Serkan Özel, Counsel, Senior Associates Anjaneya Das, Vladimír Rýlich and Garo Yaghsezian, Associates Roef Hofman, Geoffrey Adonu and Robert Bulte, Junior Lawyers Ondřej Šteco, Barbora Fiřtíková, Merel van den Burg and Dávid Herich and Trainee Solicitor Daniel McCurley.

Employment aspects were covered by Floris van de Bult, Partner, Astrid van Ommeren, Counsel, Sara Schermerhorn, Senior Adviser, Veronika Kinclová, Senior Associate and Abe van 't Hek, Junior Lawyer. Tax aspects were overseen by Partners Michiel Sunderman, Nicola Hemsley and Avrohom Gelber with assistance from Counsel Petr Šebesta, Senior Associate Paul Harrington, Associates Sharon Yu and Alec Sanderson and Junior Lawyer Diederik de Kruijff.

Clifford Chance advises a syndicate of European lenders on Fastned’s €200 million green loan facility

Fri, 23 Jan 2026 08:49:11 GMT

The facility includes an initial €100 million in committed capital over three years to fund station rollout in Belgium and Switzerland, with an uncommitted €100 million accordion option for further expansion into other markets. The five-year, non-recourse facility will support Fastned’s network rollout, upgrades and acquisition of new locations for development, supporting its ambition to operate 1,000 stations by 2030. Read more about this transaction here.

The Clifford Chance team advising on this transaction consisted of Titus de Vries (lead partner), Herman Steinvoort, Yassin van Meel and Rody Mettler (Infrastructure Finance), Esmée Oldenkamp (Notary), Stern Flik and Robin Houtveen (Tax), Sanne Blankestijn and Maria Boerman (Employment) in Amsterdam. Additional support came from David Neu and Christopher Banks (Finance) in Munich, and Wim Aerts and Sonia Belhassen (Finance) and Stijn van Walleghem (Tax) in Brussels.

Lenz & Staehelin acted as the Swiss legal counsel to the lenders in this transaction.

Clifford Chance advises Asterion Industrial Partners on its €1.5 billion European biomethane platform

Thu, 22 Jan 2026 10:20:25 GMT

ABIO is rapidly scaling its European footprint, with six operational biomethane plants, six under construction, and a target of 20 operational facilities by the end of 2026. The platform has established a presence in Iberia, Italy, Germany, Benelux and the United Kingdom, with a strategy tailored to local market conditions.

The Clifford Chance team was led by Partners Tom Fisher, Patrick Scott and Javier Amantegui. The wider team consisted of Craig Grant, James Pearce, Adam Clifton and Damilola Akinrele.

Clifford Chance advises International Finance Corporation (IFC) and the West African Development Bank (BOAD) on a €80 million financing to support Orange Mali's digital expansion

Wed, 21 Jan 2026 14:58:27 GMT

Structured as a social loan, the operation will enable the deployment of 300 new 4G antennas, nearly half of which will be in rural areas, as well as the extension of the fibre optic network to connect around 300,000 households and small businesses. The programme also includes the introduction of solar powered solutions to progressively decarbonise network operations, with an anticipated reduction of approximately 8,000 tonnes of CO₂ each year. In parallel, Orange Mali has undertaken to significantly increase women’s participation in its digital skills initiatives, targeting 70% by 2032. This collaboration with Orange Mali is expected to bridge the digital gap, stimulate employment opportunities and strengthen women’s participation in the digital economy.

The project is consistent with Mali’s national digital development agenda and forms part of the World Bank Group’s broader “Digital Economy for Africa” initiative. It also advances IFC and BOAD’s shared priorities of fostering inclusive economic development, bolstering resilience and promoting greater financial inclusion throughout the WAEMU area.

Clifford Chance advised IFC and BOAD on all legal aspects of the transaction. The team was co-led by partners Delphine Siino Courtin and Corinne Duvnjak, with the support of senior associate Thomas Chneiweiss and associate Nour Fakhoury.

Clifford Chance advises on US$250 million financing for Aradel Energy’s acquisition of 40% stake in ND Western

Wed, 21 Jan 2026 11:30:00 GMT

The acquisition gives Aradel, a leading indigenous energy company, a controlling interest in ND Western and, indirectly, in Renaissance Africa Energy Company Limited. This strategic transaction strengthens Aradel’s position in Nigeria’s upstream oil and gas sector, enhances its operational scale, and supports improved efficiency across its asset portfolio.

The Clifford Chance team was led by partner Olamide Oladosu with support from senior associate Ope Osinubi, and associates Doyin Kazeem, Seika Osafune, and Amelia Seymour.

Clifford Chance advises APG on the sale of its stake in Exolum

Wed, 21 Jan 2026 08:43:00 GMT

Exolum is a Spain‑based leader in the transportation, management and storage of energy products, with a strong international expansion strategy.

The Clifford Chance team was led by private capital/M&A partner Samir Azzouzi, with the support of senior associate Daniel García Juárez and associate Josep Massana.

Clifford Chance advises Banco Bradesco on US$750 million bond issuance

Tue, 20 Jan 2026 19:49:00 GMT

Global law firm Clifford Chance has advised Banco Bradesco S.A., acting through its Grand Cayman branch, as issuer on the successful issuance of US$750 million 5.375% Senior Notes due 2031. The notes were listed on the Luxembourg Stock Exchange.

The initial purchasers of the bonds were Banco Bradesco BBI S.A., Banco BTG Pactual S.A. – Cayman Branch, BNP Paribas Securities Corp., BofA Securities Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, UBS Securities LLC.

This cross-border deal was led by Anja Pfleger Andrade in São Paulo, and supported by partner Jonathan Zonis in New York and staff attorney Pedro Henrique Menegat.

Pfleger Andrade said, "this transaction represents a strong start to the year and underscores our continued partnership with Banco Bradesco. We are proud to leverage our extensive experience to support their latest issuance."

Clifford Chance has advised on a number of offerings in the Brazil market, including Brazil's Sabesp first ever corporate blue bond issuance, Brazil's Banco Votorantim S.A. inaugural issuance of US$500 million 5.875% senior notes, and Yinson Production's ~US$1.17 billion FPSO project bond in Brazil.