LAWFUEL – The Law News Network – Linklaters has advised BNP Paribas as co-arranger and dealer, Confederación Española de Cajas de Ahorros as co-arranger and dealer, and Bayerische Landesbank, Calyon, IXIS Corporate & Investment Bank and Landesbank Hessen-Thüringen Girozentrale as dealers, in one of the first multi-group programmes for the issue of notes to be listed on the regulated market of the Luxembourg Stock Exchange. The EUR 3bn EMTN Programme was established for a consortium of Spanish savings banks and 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 participating Spanish savings banks are: Caja General de Ahorros de Canarias, Caja de Ahorros Provincial San Fernando de Sevilla y Jerez, Monte de Piedad y Caja de Ahorros de Huelva y Sevilla, Caja de Ahorros y Monte de Piedad de Córdoba, Caja de Ahorros de Castilla La Mancha and Caixa d’Estalvis de Terrassa.
The transaction became public on 26 January 2006.
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 Iñigo Berricano, Federico Briano, Alejandro de Muns, Virginia Navarro and Alexandra Williams.