Linklaters acts as legal counsel on behalf of the joint lead managers on the European Investment Bank’s record-breaking €3bn European Green Bond

Linklaters has acted as legal counsel on behalf of BNP Paribas, Crédit Agricole CIB, Deutsche Bank and LBBW, acting as the joint lead managers, on the EIB’s issuance of €3bn European Green Bond (EuGB) labelled bonds under the European Green Bond Regulation.

The 12-year bond, maturing in May 2037, was issued under EIB’s Climate Awareness Bond Framework. The proceeds from the EuGBs will be allocated to projects primarily focused on Climate Change Mitigation, in alignment with the EU Taxonomy Regulation.

This landmark transaction marks the largest EuGB bond issued to date and is the first EuGB issuance by a supranational institution, representing a significant step in furtherance of the EU’s sustainability objectives.

The team was led by capital markets partner Arjun Muddu and counsel Andrew Chaplin, (both London). Key roles were played by partner Nicki Kayser and managing associate Merve Nazli Kaylan in the Luxembourg finance practice, and associate Dylan Wyatt in the London capital markets practice.

This is the second EuGB issuance on which we have acted as legal counsel. In January 2025, Linklaters acted as legal counsel on the first-ever EuGB issuance by Italian utility A2A.