Clifford Chance

Clifford Chance advises the lead managers on the issue of hybrid bonds by Solvay Finance

Clifford Chance Paris advised the lead managers (BNP Paribas, Crédit Suisse, Goldman Sachs International, HSBC and ING) on the issue of Euro 1,200,000,000 (in two tranches) hybrid undated deeply subordinated bonds by Solvay Finance.

The issued bonds are listed on the Luxembourg Stock Exchange as from 12 November 2013 and are intended to be accounted for as equity of the Solvay Group under IFRS, and to benefit from 50 per cent equity credit from the rating agencies.

The Clifford Chance team comprised Cédric Burford (partner) and Aileen O'Riordan.