LAWFUEL – The Law News Network – Linklaters has advised Barclays Capital as arranger and dealer, and Banco Bilbao Vizcaya Argentaria, S.A., Calyon Corporate and Investment Bank, and SG Corporate & Investment Banking as dealers, in one of the first stand alone issues of a Spanish company which is fully compliant with Spanish Law 19/2003 (a law which established a new tax regime in Spain), the EU Prospectus Directive, and Spanish corporate requirements.
The EUR500m 4.00 per cent. Bonds due 2015 were issued by Altadis Emisiones Financieras, S.A.U., a Spanish special purpose entity, and were unconditionally and irrevocably guaranteed by Altadis, S.A., the issuer?s parent company.
Altadis, S.A. is one of the world?s largest tobacco firms. It specialises in three divisions: cigarettes, cigars and logistics/distribution. Cigarettes are produced and marketed under well-known brand names in France and Spain, cigars are produced and marketed worldwide, and the logistics/distribution division distributes both tobacco-based products and products such as periodicals and books.
The transaction became public on 12 December 2005.
The Linklaters team provided advice as to English and Spanish law issues and was led by Madrid finance partner Conrado Tenaglia. Other members of the team included Federico Briano, Iñigo Berricano, Alejandro de Muns and Alexandra Williams.
The advisers for Altadis, S.A. were Denton Wilde Sapte in respect of English law issues and Garrigues in respect of Spanish law issues.