A&O Shearman advises on Banque Internationale à Luxembourg's tender offer and new issuance

On 25 February 2025, BIL announced the launch of a tender offer for its EUR175m 5.250% Additional Tier 1 notes, which were originally issued in 2019. This strategic move is part of BIL's ongoing efforts to manage its own funds and eligible liabilities proactively.

Subsequently, on March 7, 2025, BIL successfully placed an issuance of EUR300m 7.250% Additional Tier 1 notes. These new bonds are governed by Luxembourg law and are listed on the regulated market of the Luxembourg Stock Exchange. The issuance aims to strengthen BIL's capital structure and support its financial stability.

Founded in 1856, BIL is the oldest multi-business bank in Luxembourg. It offers a wide range of services, including retail, private, corporate, and institutional banking, as well as treasury and financial markets services.

The A&O Shearman team that advised on this transaction was led by global financial markets partner Paul Péporté, and included senior associate Eugene Welter, junior associate Giacomo Benincasa as well at tax partner Franz Kerger and financial services regulatory partner Baptiste Aubry.