Clifford Chance advised Morgan Stanley on currency issuance by Corporación Andina de Fomento
Clifford Chance advised Morgan Stanley on currency issuance by Corporación Andina de Fomento
The notes have been designed to stabilize the effects of inflation
Clifford Chance, has advised Morgan Stanley & Co. International Plc on the issuance of MXN 750,000,000 UDI-linked notes by Corporación Andina de Fomento (CAF).
The notes are governed by English law and issued under CAF's USD 30,000,000 Medium Term Note Programme. These are designed to stabilize the effects of inflation on the MXN value of payments.
The principal and coupon amounts under the notes are payable in Mexican pesos. However, these are to be first converted from Unidades de Inversión (the Mexican index unit of funds designed to provide a measure of inflation protection to operations within the Mexican credit system) to Mexican pesos.
The Clifford Chance team was led by partner Antonio Henriquez, head of the English law capital markets team in Madrid. He was supported by associate Anna Buscaglia in Madrid and partner Andrew Coats in London.
