Clifford Chance
Francisco Pizarro specialises in all aspects of debt and equity Capital Markets, representing both issuers and placement entities in both domestic and cross-border transactions, including notes issuances, IPOs, ABOs, rights issuances, secondary offerings and block trades, convertible and exchangeable bonds, debt programmes, regulatory capital, covered bonds and hybrid instruments.
Francisco is also a member of the Fintech team of the Madrid office.
- The Managers on the 2022 share capital increase of Grenergy Renovables by means of an accelerated bookbuild offering with exclusion of pre-emptive rights.
- CaixaBank on its issuance of EUR750,000,000 Perpetual Non-Cumulative Contingent Convertible Additional Tier 1 Preferred Securities.
- The Managers on the issuance by Unicaja Banco of EUR500 million Perpetual Non-Cumulative Additional Tier 1 Preferred Securities.
- The Managers on the inaugural green bond of the Kingdom of Spain.
- The Managers on the 2021 share capital increase of Grenergy Renovables by means of an accelerated bookbuild offering with exclusion of pre-emption rights.
- Joint lead Managers in respect of an issue of Abertis Infraestructuras Finance of EUR1,250 million hybrid securities guaranteed by Abertis Infraestructuras (and in the related liability management exercise).
- Bank of America and the other initial purchasers on the issue of EUR600 million 3.625% Senior Notes due 2024 by El Corte Inglés.
- Qatar Airways on its participation in the 2020 IAG Group Group rights issue.
- The Managers on the issuance by Ibercaja Banco of EUR500 million Fixed Rate Reset Subordinated Notes due 23 July 2030 (and in the related liability management exercise).
- A Spanish group on the proposed IPO, Rule 144A/Regulation S International offering and listing on the Spanish stock exchanges of its photovoltaic power business (finally aborted).
- The Managers on the issuance by Banco Santander of USD1,200 million 7.50 per cent. Non-Step-Up Non Cumulative Contingent Convertible Perpetual Tier 1 Securities.
- MásMóvil in connection with its share capital increase through the issue of 3,600,000 ordinary shares in an accelerated book-built offering with exclusion of shareholder's pre-emption rights.
- The Underwriters on the proposed IPO of CEPSA, an oil and gas company (finally aborted).
- Mapfre on its EUR500 million 2.875% Fixed Rate Subordinated Notes due 2030. Tier 3 Notes issuance.
- Issuers and Managers on the establishment and update of debt securities programmes for the issuance of senior (preferred and non-preferred) and subordinated debt (including the EMTN programmes of CaixaBank, BBVA, Abanca, Enagás, ACS, Abertis, Telefónica and Inmobiliaria Colonial) and on issuances thereunder
- Telefónica in relation to its issues of hybrid securities (and in the related liability management exercises).
- On the Spanish retail tranche of the c. EUR 9.4 billion IPO of Porsche.
News and client work
Contact details
- Clifford Chance, Madrid
- +34 91 590 4150
- Email me
- Speaks Spanish and English
- Practice area Financial regulation, Global Financial Markets
Career and qualifications
- Universidad Pontificia de Comillas Madrid (ICADE-E3) (Law) 2010
- Universidad Pontificia de Comillas Madrid (ICADE-E3) (Business Administration) 2011
- Admitted as an Abogado in Madrid 2011
- Previously worked in Uría & Menéndez 2015
- Joined Clifford Chance 2015
Professional bodies
- Member of the Madrid Bar Association
Awards and citations
- Debt Band 1
Chambers and Partners Europe 2021: Capital Markets - Debt Tier 1
Legal 500 2021: Capital Markets - Rising star
IFLR 1000 2022, 2021, 2020 & 2019: Capital Markets