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Monday, November 9 - 2009

Clifford Chance advises ADCB on the establishment of their $7.5bn Euro Medium Term Note Programme

  • United Arab Emirates: Monday, June 23 - 2008 at 10:44
  • PRESS RELEASE

The Dubai office of Clifford Chance LLP has advised Abu Dhabi Commercial Bank P.J.S.C. (ADCB) on the establishment of their new London listed $7.5bn Euro Medium Term Note Programme.

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Under the Programme the notes can either be issued by ADCB itself or by ADCB Finance (Cayman) Limited, a special purpose vehicle located in the Cayman Islands with a guarantee of such notes by ADCB. The senior and subordinated debt has been rated Aa3 and A1 by Moody's, and A/A-1 and A- by Standard & Poor's.

Debashis Dey, Capital Markets Partner at the Dubai office comments:

"This was our first opportunity to act on a debt programme for Abu Dhabi Commercial Bank P.J.S.C., one of the largest retail banking franchises in the UAE."


The Clifford Chance team comprised of Debashis Dey, Ursula Gil, Bilal Ahmad, Jana Salloum and Catherine Wilson. Walkers provided Jersey law advice. The London office of Allen & Overy acted for the Dealers.
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Notes to Editors:
1. Clifford Chance is one of the world's leading law firms, helping clients achieve their goals by combining the highest global standards with local expertise. The firm has unrivalled scale and depth of legal resources across the key markets of the Middle East, Americas, Asia and Europe and focuses on the core areas of commercial activity: capital markets; corporate and M&A; finance and banking; real estate; tax; pensions and employment; litigation and dispute resolution. Clifford Chance has 28 offices in 21 countries and 3,800 legal advisers.

2. The capital markets practice comprises over 422 partners and lawyers who concentrate on securities transactions and other products sold into the capital markets. The practice is founded on a full-service US and UK securities law capability, complemented by local securities law expertise in each of the key financial centres.

The combination of local knowledge with an international perspective enables us to provide practical, integrated legal advice covering the full spectrum of global capital raising activities including public and private domestic and international offerings of traditional debt and equity securities as well as convertible and other derivative and structured securities.

Consistently ranked as the 'best legal practice for securitisation' by key commentators, the Clifford Chance International Securitisation Group is at the forefront of the securitisation markets across the world. The Group advises most of the leading market participants and provides an in-depth knowledge of complex issues relating to the securitisation of a broad spectrum of assets.

Our clients include issuers, originators, arrangers, managers, investors and other finance providers, trustees, rating agencies, monoline insurers and swap counterparties from a variety off industries including energy, transport, infrastructure projects, and real estate.

3. Our clients include issuers, originators, arrangers, managers, investors and other finance providers, trustees, rating agencies, monoline insurers and swap counterparties from a variety off industries including energy, transport, infrastructure projects, and real estate.

Clifford Chance's 75-lawyer Dubai office is fully integrated into the firm's worldwide network of offices and has a market leading finance practice in the Middle East. The firm celebrated its 30th anniversary in the United Arab Emirates in 2005, having opened its first office in the region in Sharjah in 1975.

Debashis Dey
Head of Capital Markets and Structured Finance Gulf Region
+971 4 362 0624

Melanie Carruthers
Business Development Manager
+971 4 362 0623

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