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Clifford Chance

Clifford Chance
Francisco Pizarro

Francisco Pizarro

Abogado

Abogado
Francisco Pizarro

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

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Contact details

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