Linklaters has advised the Trustee of the AstraZeneca Pension Fund on its £2.5 billion Longevity Swap with Deutsche Bank AG, London branch.

AstraZeneca and the Trustee of the AstraZeneca Pension Fund have agreed a Longevity Swap that will give additional security to all members of the company’s pension scheme. The Longevity Swap with Deutsche Bank manages the longevity risk on approximately £2.5bn of the pension scheme’s liabilities.  Around 10,000 pensioners are covered by this agreement.

The Linklaters team was led by partner Mark Brown and counsel Joan Ma, with managing associates Kyara Mathias and Michael Solaimani (all members of the derivatives and structured products group), and pensions partner Claire Petheram.