Client news

A&O Shearman advises on Spuerkeess's debut green bond issuance

A&O Shearman advises on Spuerkeess's debut green bond issuance
Published Date
Mar 18 2025
A&O Shearman has successfully advised the joint lead managers on the debut issuance by Spuerkeess of EUR500 million fixed to floating rate green senior preferred callable notes due 2031. This marks the first issuance of Green Bonds by Spuerkeess. The notes, governed by Luxembourg law, are listed on the regulated market of the Luxembourg Stock Exchange and displayed on the Luxembourg Green Exchange.

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

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

The A&O Shearman team advising on this transaction was led by global financial markets partner Paul Péporté. The team also included senior associate Eugene Welter and junior associate Christine Laux.

Related capabilities