NordLB Lux mandates for first renewable energy deal, again

EDF Luminus source EDF 230x150
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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