Norton Rose Fulbright advises syndicate of banks on the issue of L-Bank's first bond placed in Canada

Global law firm Norton Rose Fulbright has advised a syndicate of banks on the issue by Landeskreditbank Baden-Württemberg – Förderbank ("L-Bank") of a CAD 300 million bond (ISIN: XS2672453045). The syndicate was comprised of Bank of Montreal Europe plc, RBC Capital Markets (Europe) GmbH (Technical Lead) and The Toronto-Dominion Bank.

The bond, which matures on September 1, 2026, was admitted to trading on the regulated market of the Luxembourg Stock Exchange and is the first bond issued by L-Bank which has been offered for sale to investors in Canada. The bond met strong demand and was fully placed with investors in Europe and Canada.

As the development bank of the federal state of Baden-Württemberg, L-Bank is commissioned by the state to support the federal state of Baden-Württemberg in the performance of its public functions, in particular in the areas of structural, economic and social policies, administering and implementing development measures in accordance with the subsidy regulations of the European Community.

Christoph Enderstein, Frankfurt-based debt capital markets Partner, who led on the deal commented: “We have advised on several bonds issued by L-Bank in recent years and are pleased to have been involved also with the successful issue of the first L-Bank bond placed in Canada.”

The Norton Rose Fulbright Frankfurt team also included banking and finance Counsel Dr. Michael Born and Associates Quynh-Anh Nguyen-Xuan and Laura-Sophie Stillger. Financial Services and Regulation Partner Tim Stewart and Senior Associate Mark Bissegger from the firm's Toronto office advised on Canadian law aspects of the deal.

L-Bank was advised internally by Claudia Prutscher, Daniela Anderlik, Sven Lautenschläger and Christoph Schäfer.

Norton Rose Fulbright's Frankfurt debt capital markets team advises both investment banks and issuers in connection with national and international capital market transactions in the areas of debt capital markets and structured finance, in particular on bonds, commercial paper, covered bonds, structured bonds, securitized derivatives, hybrid instruments, registered bonds, Schuldschein loans and debt issuance programmes, as well as related regulatory issues.

Contact:
Julian Krauskopf | Corporate Communications & PR Executive Germany
Tel.: +49 152 9001 5735
julian.krauskopf@nortonrosefulbright.com