A&O Shearman on the first issuance of “EuGB” labelled bonds by a French issuer

On February 4, 2025, Île-de-France Mobilités, responsible for developing public passenger transport services throughout the île-de-France region, became the first French issuer of EuGBs, with an amount of EUR1 billion and a maturity of 20 years, meeting the requirements of the new European Regulation EuGB, which came into force on December 21, 2024.

The funds raised by Île-de-France Mobilités will be allocated to projects supporting the development of low-carbon public transport in the Île-de-France Region, in compliance with the European Taxonomy.

Julien Sébastien, partner at A&O Shearman in France, commented: "This transaction, the result of long weeks of work and collaboration with the parties involved, including the Autorité des marchés financiers, is a pioneer for the European Green Bonds market and highlights the attractiveness of Paris as a hub for sustainable finance. The success of this issuance not only showcases our deep expertise in this market but also our commitment to supporting our clients in large-scale environmental initiatives, in line with market demands and new regulations."

Fred Zorzi, Global head of primary markets, BNP Paribas, commented: “A true privilege to support Île-de-France Mobilités on this landmark transaction as both green co-structurer and joint lead manager, alongside legal counsel from A&O Shearman.”

Tanguy Claquin, Head of sustainable investment banking, Crédit Agricole CIB, commented: “A pleasure to be among the first involved in the issue of EuGBs as green co-structuring agent. A triumph for Ile-de-France Mobilités, the joint lead managers and our counsel, A&O Shearman.”

The A&O Shearman team was composed of partner Julien Sébastien, counsel Lorraine Miramond, and associates Marc Ghorayeb and Bianca Nitu.