Andrew Coats specialises in advising financial institutions and issuers on a broad range of structured finance products, including repackaging programmes, derivatives, structured securities and retail-targeted securities offerings.
Andrew regularly advises clients on both privately-placed and listed or publicly-offered securities issues and on related requirements under the Prospectus Directive. His practice has long involved the emerging markets.
- Advised Deutsche Bank on a longevity swap with the Trustees of the Rolls-Royce Pension Fund. The contract reduces the longevity risk on approximately GBP£3 billion of the fund's liabilities. Around 37,000 pensioners are covered by the agreement.
Clifford Chance advises Deutsche Bank on £3.5bn of longevity swaps with the AstraZeneca Pension Fund and five Carillion plc pensions schemes
17 December 2013
Clifford Chance advises Abbey Life Assurance Ltd, a unit of Deutsche Bank AG, on a reinsurance agreement with Santander
7 August 2012
Clifford Chance advises Swiss Re on GBP 1.4bn longevity insurance cover for Akzo Nobel's UK pension fund
24 May 2012
Clifford Chance advises Deutsche Bank on £3bn longevity swap with Rolls-Royce Pension Fund
30 November 2011
Clifford Chance advises HSBC Bank Middle East Limited on an innovative and ground breaking sukuk structure
29 June 2011
- Andrew is the author of "A brief overview of the Financial Services Act 2012 and the new UK financial regulation framework". He also authored "High-yield debt finance: Fledgling market taking off" (with Peter Kilner and Rick Ely of Clifford Chance) - PLC Magazine – July 1999.
Brexit and Capital Markets: Considerations for a 'no deal' Brexit
1 October 2019
The Prospectus Regulation and Debt Prospectuses: A PD3 Primer - Levels 1, 2 and 3 (and other measures)
26 June 2019
ISDA Credit Support Annex: Court of Appeal re-affirms no obligation to pay 'negative interest'
14 May 2019
Good news for banks in the Budget: providing certainty on the tax treatment of regulatory capital
29 October 2018
ISDA Credit Support Annex: High Court confirms no obligation to account for 'negative interest'
3 August 2018
Career and qualifications
- St John's College, Oxford University (BA, Jurisprudence)
- Joined Clifford Chance London 1990
- Admitted as a solicitor in England & Wales 1990
- Associate lawyer in New York office of Clifford Chance 1991
- Admitted as an Attorney-at-Law in New York 1995
- Partner since 1998
Awards and citations
- Finance Team of the Year 2013
Legal Business Awards 2013
- Sources appreciate Andrew Coats's "reassuring presence in meetings and difficult negotiations." He is further praised for his consistency in providing a stellar service to his clients. Deutsche Bank recently engaged him to act on a longevity swap involving up to £3 billion of pension fund liabilities.
Chambers UK 2013