NordLB Lux mandates for first renewable energy deal, again

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By Bill Thornhill
16 Jan 2020

NordLB Luxembourg was expected to arrive in the market with its inaugural renewable energy covered bond late last year, having completed a market programme and mandated lead managers. On Thursday it finally plucked up the courage to re-announce the long-awaited deal — the first to be ever issued under the country’s new law.

NordLB Luxembourg Covered Bond Bank mandated ABN Amro,Commerzbank, Crédit Agricole CIB and NordLB to lead manage the €300m Lettres de Gage Renewable Energy, which will have a five year maturity. The bonds will be rated Aa2 by Moody's.

The deal had been rated ...

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