Linklaters advises BNY on the EIB’s sixth digital bond issuance

Linklaters has advised The Bank of New York Mellon Corporation (BNY) as custodian and paying agent on the European Investment Bank (EIB)’s sixth digital bond issuance, and the second EIB issuance in the context of the Eurosystem exploratory work on new technologies for wholesale central bank money settlement (ECB trials).

This bond adopts the exploratory cash tokens issued on the Cash DL3S platform by Banque de France, which interoperates in real time with Goldman Sachs Digital Assets Platform (GS DAP), the digital bond issuance and tokenisation platform provided by Goldman Sachs Bank Europe SE.

Richard Hay, Partner and UK Head of Fintech at Linklaters, commented:

“We are proud to have supported BNY as custodian and paying agent on this ground-breaking project in connection with the issuance by the European Investment Bank of digital bonds registered on the GS DAP.”

The cross-border Linklaters team was led by partners Richard Hay, Nicki Kayser and Burkhard Rinne, and comprised of counsel Sebastian Dey, consultant Delphine Horn, and managing associates Henry Wells and Stefan Gohling.

Linklaters prides itself on being at the forefront of industry advancements and trends across OTC derivatives and trading, structured solutions, and innovative financial markets infrastructure and Fintech. The firm has a long-established reputation in supporting clients globally on a wide range of complex and ground-breaking transactions, having recently advised Euroclear Bank on the establishment and launch of its new Digital Securities Platform and on the issuance by EIB of its first ever digital Climate Awareness Bond and Swedish Krona transaction.