Ashurst advised Andorra Banc Agrícol Reig B.V. (Andbank) on its €500 million global Euro medium term note and covered bond programme and its inaugural issue of €100 million floating rate covered bonds due July 2022, which was solely lead managed by JP Morgan.  The residential mortgage-backed bond was the principality of Andorra's first ever covered bond issue.

The Ashurst team was led by debt capital markets partner Alex Biles, assisted by associate Katie Lloyd.