Spuerkeess’s Debut Green Bond Issuance Advised By A&O Shearman

Spuerkeess’s debut green bond issuance advised by A&O Shearman

The proceeds from the issuance will go towards green projects that align with Spuerkeess's Green Bond Framework.

Joint lead managers have been successfully advised by A&O Shearman on Spuerkeess’s debut issuance of EUR500 million fixed to floating rate green senior preferred callable notes due 2031. This marks Spuerkeess’s first issuance of Green Bonds. Luxembourg law governs the notes that are listed on the Luxembourg Stock Exchange managed-regulated market and displayed on the Luxembourg Green Exchange.

Also known as Banque et Caisse d'Epargne de l'Etat, Luxembourg, Spuerkeess, is a state-owned bank founded in 1856 which plays an important role in Luxembourg's economic development, providing financing for business development and public infrastructure.

The proceeds from the issuance will go towards green projects that align with Spuerkeess's Green Bond Framework. This framework, launched in February 2025, is designed in accordance with the ICMA Green Bond Principles. Residential mortgage loans and commercial real estate financing for dwellings belonging to the top 15% most energy-efficient buildings in Luxembourg are expected to be included in the green projects.

Global financial markets partner Paul Péporté led the A&O Shearman team advising on this transaction which also included senior associate Eugene Welter and junior associate Christine Laux.