Uría advises Commerzbank on the issue and listing of warrants in Portugal

Uría & Menéndez has advised Commerzbank AG on the issue and listing of warrants in Portugal.

The operation involved an total amount of ? 177 340 000. The trading of the first warrants started on November 12, 2003.

Uría & Menéndez was responsible for the drafting of all legal documentation related to this transaction in Portugal, as well for the negotiation of said documentation with the relevant parties involved in the deal, including the Portuguese Securities Commission (Comissão do Mercado de Valores Mobiliários) and Euronext Lisbon.

The deal consisted on the issue and listing in Portugal, by Commerzbank AG in partnership with Banco de Investimento Global, S.A., of call and put american style warrants on eleven different underlying assets, become one of the biggest issues ever made in the Portuguese capital markets. The full amount of the warrants issued on October 27, 2003 is registered with the local depository (Central de Valores Mobiliários).

Uría & Menéndez team was lead by Carlos Costa Andrade, senior associate, who was assisted by Ana Sá Couto, associate, both lawyers at the Uría & Menéndez Lisbon Office, in the Department of Finance and Capital Markets.