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Clifford Chance advises Tristan Capital Partners on the acquisition of Berlin data centre site from Aventos

Fri, 05 Dec 2025 17:12:00 GMT

Located at Nonnendammallee 61 in Berlin’s Siemensstadt district, the site will host three data centre buildings with a substation and reception building. Aventos obtained a connected load of 63MVA for the property ahead of the sale.

The Clifford Chance team advising Tristan on this acquisition was led by partner Philipp Stoecker and comprised associates Sabrina Tenebruso and Robin Rebecca Molitor (all Real Estate, Frankfurt) as well as partner Mathias Elspaß and senior associate Duy Tuong Huynh (both Corporate/Energy, Düsseldorf).

Clifford Chance advised Cityforward on UBP Share Contribution in Egmont I & II Holding Company

Fri, 05 Dec 2025 15:38:00 GMT

This transaction marks another important milestone in Cityforward’s continued growth as it continues to expand its real estate portfolio. UBP's addition as a shareholder strengthens Cityforward’s long-term strategy and supports its mission to build a sustainable, future-oriented real estate platform.

Located in Brussels’ Central Business District, Egmont I & II are landmark assets that currently host the Belgian Ministry of Foreign Affairs.

The Clifford Chance team was led by Partner Alexandre Ooms (Tax) with support from Senior Associate Thomas Linard de Guertechin (Tax & Investment Funds).

Clifford Chance advises the lenders on Atresmedia's syndicated financing renewal

Fri, 05 Dec 2025 12:02:00 GMT

The €175 million corporate financing strengthens Atresmedia's long-term liquidity position and supports its strategy in a rapidly evolving media landscape. Reflecting the group’s commitment to sustainability, the financing includes the following ESG-linked indicators:

enhanced accessibility of television content through sign language interpretation;
free advertising space for non-profit organisations; and
integration of key suppliers' carbon footprint into the group's overall emissions calculation.

CaixaBank and BBVA acted as sustainability coordinators, ensuring the transaction aligns with Atresmedia’s environmental and social responsibility goals.

The Clifford Chance team was led by Epifanio Pérez and Ignacio Magariños.

This transaction underscores Clifford Chance’s leadership in sustainable finance and demonstrates our commitment to ESG principles.

Clifford Chance advises GD Towers on its €7.7 billion refinancing

Fri, 05 Dec 2025 09:12:00 GMT

The debut issuance of the €2.5 billion private placement with European and US investors was one of the largest ever EUR denominated private placements. Going forward, GD Towers' existing €5.2 billion term, capex and revolving facilities will be provided under the new common terms financing platform.

The financing has been put in place to partially refinance existing loans, to support its expansion and capital maintenance requirements, general corporate purposes and a recapitalisation. The common terms platform provides a stable financing structure for GD Towers and gives access to funds for future investments over the coming years.

GD Towers is a full-service provider of passive infrastructure and acquires, plans, realizes, operates and markets radio sites throughout its wholly-owned subsidiaries “Deutsche Funkturm” in Germany and “TOWERS Infra Austria” in Austria. Its portfolio includes towers, masts, rooftop sites and small cells. Since 2023, it has been jointly owned by Deutsche Telekom, DigitalBridge and Brookfield Asset Management.

Clifford Chance frequently advises across all different financing products and markets. In this transaction, the team was able to draw on expertise from previous transactions, especially in corporate lending, infrastructure financing and the TMT sector.

The Clifford Chance team was led by partners Simon Reitz and Axel Wittmann and counsel Christoph Nensa (Frankfurt) and partner Julia House (London), with support from partners Bettina Steinhauer and George Hacket (Frankfurt) and Matteo Sbraga (London), counsel Henrik Gildehaus, senior associates Marcel Knörchen, Vanessa Steiner and Nico Köhler, associates Sebastian Wurm, transaction lawyer Felicitas Fischer (all Frankfurt) and senior associate Arpan Bhatt (London) (all Global Financial Markets).

Advice was also provided on tax matters by partner Olaf Mertgen and counsel Steffen Waadt (both Tax, Frankfurt) and on hedging matters by partner William Winterton, senior associate Rachel Robertson and associate Bogomil Kukovski (all Global Financial Markets, London). Corporate advice was provided by partner Tobias Kamerling and senior associate Yannick Niedergethmann (both Corporate, Düsseldorf).

The GD Towers inhouse team included senior legal counsel Pamela Victoria Schaarschmidt (leading the legal workstream), General Counsel Felix Müller, Head of Treasury Volker Hoffarth and Head of Transformation David Kazmirci.

Clifford Chance advises NLB on its €300 million Additional Tier 1 (AT1) bond issuance

Thu, 04 Dec 2025 14:05:57 GMT

AT1 Notes are contingent convertible instruments designed to absorb losses and enhance a bank’s capital resilience during periods of financial stress. This issuance marks a significant milestone for NLB, with proceeds aimed at diversifying the bank’s capital base and further strengthening its capital and MREL position.

The Clifford Chance team was led by partner Cristina Freudenberger (Capital Markets, Frankfurt) and further comprised senior associate Maria de Elizalde (Capital Markets, Madrid) as well as transaction lawyers Lilli Neubauer and Felicitas Fischer (both Capital Markets, Frankfurt).

Clifford Chance advises Ecuadorian airport concessionaire Quiport on US$500 million debt issuance and concurrent consent solicitation

Wed, 03 Dec 2025 19:31:00 GMT

Quiport is the concessionaire of the international airport in Quito, Ecuador. The Notes are secured by a first-priority interest in certain assets, including an assignment of trust beneficiary rights and a 100% pledge over the equity interests in Quiport.

The proceeds of the Notes and the Ecuadorian Loans were partially used to refinance Quiport's existing debt with its affiliate, International Airport Finance, S.A. (IAF), subsequently applied to redeem IAF's outstanding 12.000% senior secured notes due 2033 (the Existing Notes). Additionally, Clifford Chance advised in IAF's concurrent consent solicitation to the noteholders of its Existing Notes in connection with certain waivers to existing agreements to permit these transactions.

The Clifford Chance team advising on the transaction was led by partner Mariana Estévez and associate Paula Ferreira, with support from associates Julián Hurtado Vallejo, David Rondon, Cristian Ragucci and Pedro Vasques Milhinhos. Partner Avrohom Gelber and associates Joshua Thomas and Kade Moural advised on tax matters, partner Paul Koppel and associates Thomas Koh and Ivona Dimov advised on ERISA matters and partner Jefferey LeMaster and associate Emily Picard advised on Investment Company Act matters.

Clifford Chance advises KKR on its private credit strategic partnership with Sallie Mae

Wed, 03 Dec 2025 16:15:00 GMT

Under the terms of the agreement, KKR expects to purchase an initial seed portfolio of private education loans followed by a minimum of US$2 billion in newly originated loans annually, for an initial three-year term. KKR's investment comes from KKR-managed credit funds and accounts via the firm's Asset-Based Finance strategy.

Partner Alistair Dunlop led the transaction along with partner Jim Cotins, associates Tom Kearney, Grace Mayes and Frano Katalinic. They were supported by partner Darren Littlejohn and expatriate lawyer Sam Steinert on hedging matters; and partner Jim Gouwar and associate Michaela Morr on tax matters.

Clifford Chance Advises Akbank on the World’s First Digital Gender Bond Issuance

Wed, 03 Dec 2025 09:15:00 GMT

The transaction was executed and settled via Euroclear’s Digital Financial Market Infrastructure (D-FMI), utilising Distributed Ledger Technology (DLT) to provide secure, decentralised record-keeping and efficient settlement. This innovative approach highlights the growing role of DLT in transforming the global financial landscape.

Proceeds from the bond will be directed towards projects aimed at expanding access to finance for women-owned small and medium enterprises (WSMEs) and increasing women’s access to mortgage loans in Türkiye. The initiative is expected to stimulate job creation and foster inclusive economic development by supporting women’s participation in the Turkish economy.

The Clifford Chance team advising on this landmark transaction was led by Matt Fairclough (Partner, London) and Sait Eryılmaz (Partner, Istanbul), supported by Alexander Tollast (Counsel, Paris), Ali Can Altıparmak (Senior Associate, Istanbul) and Alper Eski (Associate, Istanbul).

Partner Matt Fairclough said, “We are proud to have supported Akbank on this landmark transaction, which combines innovation in capital markets with a strong commitment to gender equality. This issuance reflects Clifford Chance’s dedication to advising clients on pioneering deals that drive sustainable finance and create meaningful impact by empowering women entrepreneurs and fostering inclusive economic growth.”

Clifford Chance appoints new Managing Partner in Amsterdam

Wed, 03 Dec 2025 01:45:00 GMT

Mark-Jan Arends

Mark-Jan Arends joined Clifford Chance in 2014 and was appointed to the partnership in 2015. He currently heads the Corporate practice in Amsterdam, leading a team that advises major national and international clients on complex and strategic matters. Mark-Jan aims to continue promoting the firm’s growth and profitability and implementing the global strategy.

Steve Jacoby, co-Regional Managing Partner for Europe, says: "I would like to thank Titus de Vries for his leadership and dedication which has ensured that our Amsterdam office has continued to be among the leading firms in the Netherlands, servicing our Dutch and global clients across all our products and practices."

Chinwe Odimba-Chapman, co-Regional Managing Partner for Europe, continues: "I am delighted that Mark-Jan Arends, who has developed an exemplary career at the firm for over 12 years and knows the firm well, will lead this new stage. I am confident he will continue to drive the firm’s growth and further improve our offer to clients globally."

Commenting on his appointment, Mark-Jan Arends says: "It is an honour to accept this position and take over from Titus de Vries, who has led the Amsterdam office successfully during his tenure. The firm is growing. I will ensure our team is well positioned to advise clients on opportunities in the Dutch and international markets and help them navigate challenges in an increasingly complex environment."

Clifford Chance advises Asterion on the acquisition of the Covilhã data centre from Altice Portugal

Tue, 02 Dec 2025 15:26:00 GMT

The Covilhã Campus is a representative data centre with 6.8 MW of installed capacity, and with architectural potential, available land and secured electricity supply to accommodate an expansion of up to 175 MW.

As part of the transaction, Altice Portugal will continue as an anchor tenant of the data centre under a long-term Master Service Agreement.

This is Asterion’s second relevant data centre transaction, following last year’s sale of Nabiax, in which Clifford Chance also acted as legal advisor to the fund.

The Clifford Chance team that advised Asterion was led by partner Javier Amantegui, with the support of counsel Javier Olábarri and associate Sofía Albiñana. In addition, senior associate Ana Latorre and associate Oscar Barracchini supported all aspects related to competition law.

For matters relating to Portuguese law, Clifford Chance has had the support of the firm Morais Leitão.

Clifford Chance advises Parcom on sale of its stake in HEMA to the van Eerd family

Tue, 02 Dec 2025 13:09:00 GMT

The proposed transaction is subject to customary conditions. Read more about the transaction here and here.

The Clifford Chance team was led by Stephanie Horowitz and further comprised of Tjerk de Jonge, Femke Buijs, Jorrit Ponjee (Corporate), Sanne Blankestijn (Employment), Jurre Jurriëns (Antitrust), Stern Flik and Cile Arnoldy (Tax).

In 2020, Clifford Chance has also advised Parcom on the conditional agreement with HEMA bondholders on the acquisition of HEMA.

Clifford Chance advises Eroski on its EUR 1bn refinancing

Tue, 02 Dec 2025 12:53:00 GMT

The deal was structured through a EUR 500 million issuance of senior secured notes, along with new syndicated TLA, revolving credit facility and working capital framework agreement for the Eroski group.

Clifford Chance's cross border team involved Spanish, NY and English law teams, and was led by Global Financial Markets partner Felipe Font in Madrid who was supported by senior associates Juan Puras and Francisco Pizarro, associate María Vispo and junior associates Enrique Pais and Yago López, together with Tax senior counsel Roberto Grau. In London, partners Jill Concannon and Richard Day advised with assistance from senior associates Sannu Shrestha and Kuan Yue Lim and associates Tara Kade and Isabelle Woodcock.

Clifford Chance advises L'Oréal on its new 3 billion euro bond issuance to finance part of the acquisition of Kering Beauté

Tue, 02 Dec 2025 11:14:00 GMT

850 million euro 2-year floating rate bond paying a coupon of Euribor 3-month + 0.2% per annum;
1 billion euro 5-year fixed rate bond paying a coupon of 2.750% per annum;
1.15 billion euro long 10-year fixed rate bond paying a coupon of 3.375% per annum.

The net proceeds of the bonds will be used for general corporate purposes including to finance part of the acquisition of Kering Beauté.

The bonds are rated AA (stable) by S&P and Aa1 (stable) by Moody’s and are admitted to trading on Euronext Paris since 19 November 2025.

The banks syndicate was composed of Bank of China, Barclays, Citigroup, Crédit Agricole CIB, HSBC, ING, J.P. Morgan, Natixis, Scotiabank, Société Générale Corporate & Investment Banking and Standard Chartered Bank AG.

Clifford Chance advised L'Oréal on this transaction with a team composed of Cédric Burford, partner, Auriane Bijon, counsel, Batoul Laanani, senior associate, and Santiago Ramirez, associate.

The L'Oréal Group was advised internally by Arnaud de Rochebrune, General Counsel M&A, Licensing and Financing, and Mélina Krouri, Associate General Counsel Banking & Finance.

Clifford Chance advises on debut €8bn EMTN Programme and bond issue by The Magnum Ice Cream Company

Tue, 02 Dec 2025 11:08:00 GMT

The net proceeds of the issue of the Notes will be used for the general corporate purposes, including to facilitate the demerger of the TMICC Group from the Unilever Group.

The global financial markets team was led by partner Kate Vyvyan, with support from senior associate Poppy Mitchell, associate Simina Sovi, and trainee Grace Sohn, while partner Bruce Kahl acted as trustee counsel, supported by associate Robert Hartman and trainee Callum Florance.

This transaction underlines the firm's track record in advising on complex, event-driven capital markets transactions, and its work in the consumer goods and retail sectors.

Clifford Chance advises GIGA Storage on 100 MW tolling agreement with Vattenfall for Leopard battery project in the Netherlands

Tue, 02 Dec 2025 06:33:00 GMT

Global law firm Clifford Chance has advised GIGA Storage, a large-scale energy storage projects developer supported by InfraVia Capital Partners, on a landmark 100 MW tolling agreement with Vattenfall for the Leopard battery project, GIGA Storage’s large-scale battery storage system (BESS) in the north of the Netherlands. This is the largest tolling agreement for a standalone BESS in the Benelux.

The tolling contract represents one third of Leopard’s total capacity (300 MW). The agreement provides GIGA Storage with fixed long-term revenues to support project financing. Vattenfall will have full operational control of the 100 MW capacity, enabling the company to mitigate increased imbalance risks across its customer and renewable portfolio. The contract will take effect on 1 January 2028. Read more about the tolling contract here and here.

The Clifford Chance Energy & Infrastructure team comprised of Niels Kuil, Liesbeth Buiter and Philip Walsh.

Clifford Chance has previously advised GIGA Storage and GIGA Leopard on the €300 million financing of GIGA Leopard.

Clifford Chance expands US Energy Regulatory and Markets practice with addition of counsel Heather L. Feingold

Mon, 01 Dec 2025 15:00:00 GMT

Arriving from Day Pitney, Feingold brings more than 20 years of experience advising clients on energy regulatory matters, focusing on transactional and compliance activities involving generating companies and investors before the Federal Energy Regulatory Commission (FERC). She provides guidance on mergers, acquisitions, divestitures, wholesale power sales authorizations, reporting obligations for project companies and investors, and transaction planning and energy investment risk management.

Feingold holds experience across the generation, transmission and distribution of energy, having worked on numerous investment matters, including the acquisition and sale of generators across the various fuel classes, such as solar, wind, natural gas, and cogeneration. She also supports FERC periodic reauthorization proceedings for both portfolio-wide and individual generating companies.

Marcia Hook, Head of the US Energy Regulatory and Markets practice, says: " I’m thrilled to welcome Heather to our team. Her arrival expands the depth of our practice and strengthens our ability to deliver clear, commercially focused guidance as clients advance projects in today’s rapidly evolving energy regulatory landscape."

Feingold says, "I am excited to join such a collaborative, innovative team, and I look forward to leveraging my experience to provide strategic guidance on energy regulatory matters."

Feingold is the most recent addition to the growing US Energy Regulatory and Markets practice, following the recent arrival of Mark C. Williams in November.

Clifford Chance advises lenders financing Advent's acquisition of Automic Group in Australia and New Zealand

Mon, 01 Dec 2025 12:31:43 GMT

The cross-border debt financing team was led by partners Alim Amershi and Elizabeth Hundt Russell, with support from counsel Alexander Sorgese and associates Liam Dunne, Howard Blackbee and Sachin Kinger.

The wider team included partners Peter Dahlen, Katherine Sinclair, Matthew Truman and Mark Currell, supported by associates Raad Gorji, Melanie Ray and Monica Shakeri.

Clifford Chance advises Energix Polska on agreement with Axpo to optimise Poland’s largest battery energy storage system

Mon, 01 Dec 2025 11:50:00 GMT

The installation, in Nowy Czarnów (West Pomeranian Voivodeship), has a capacity of 24 MW and storage of 56 MWh.

Under the agreement, Axpo will optimise the BESS’s commercial operations, including issues related to the revenue strategy and participation in the ancillary services market. This collaboration advances energy storage infrastructure in Poland.

The Clifford Chance team included Paweł Puacz, Partner, and Adrian Król, Senior Associate.

Clifford Chance advises Nofar Energy in the signing of three O&M contracts with EnergoBit for three photovoltaic parks with a total capacity exceeding 360 MW

Fri, 28 Nov 2025 10:37:00 GMT

Partner Nadia Badea said: “Congratulations to Nofar Energy for this new strategic partnership with one of the most representative energy companies. Clifford Chance remains the trusted partner for Nofar’s projects in Romania, based on a relationship built on shared values, professional excellence, and a global vision adapted to local commercial realities.”

Counsel Lavinia Dinoci adds: “Solid partnerships for the construction, operation, and management of renewable energy parks are essential for sustainable investments, which is why our team gets involved from the early stages of negotiation to generate the best result for the client.”

Clifford Chance advises BlackFin Capital Partners on joining forces with Arendt

Fri, 28 Nov 2025 10:24:00 GMT

This partnership marks a substantial milestone in AIS’ development strategy, reinforcing its position in the Luxembourg financial services market and enabling it to scale operations into new jurisdictions.

As an important shareholder, Arendt will continue to contribute to the development of AIS, while maintaining strong synergies with the law firm and its consulting services.

The Clifford Chance team was led by Partner Christian Kremer (Corporate/M&A) and consisted of Counsel Simone Schmitt (Corporate/M&A), Senior Associate Grégoire Colson (Corporate/M&A), with Partner Oliver Zwick (Investment Funds), Counsel Anne-Lise Vandevoir (Investment Funds) and Counsel Boika Deleva (Financial Regulation) providing support from a regulatory perspective.

The transaction is subject to CSSF approval and other customary procedures.