Clifford Chance

Clifford Chance Advises Global Coordinators and Joint Bookrunners in Proximus' EUR 700 million Inaugural Hybrid Bond Issuance

Clifford Chance has advised JP Morgan, HSBC and ING as Global Coordinators and the other Joint Bookrunners with Proximus' inaugural hybrid bond issuance. This landmark transaction marks a significant milestone for Proximus as it ventures into the hybrid bond market for the first time.

Proximus, a prominent Belgian telecommunications company, successfully issued a hybrid bond, raising EUR 700 million to strengthen its capital structure, after the recent acquisitions and the ambitious network investments, while maintaining financial flexibility to support organic growth as well as diversifying the funding sources and tapping into a new pocket of liquidity.

Clifford Chance provided comprehensive support to the Global Coordinators and Joint Bookrunners throughout the issuance process. Our team was led by senior counsel Wim Aerts and associate Sonia Belhassen, with specialist product advice provided by partner Paul Deakins in London. Tax advice was provided by partner Alexandre Ooms and associate Thomas Linard de Guertechin.