White & Case Advises on EUR 750 Million Green Notes Issuance

Note issuance is an underwriting agreement in the Eurocurrency market under which borrowers place short/medium term notes via a syndicate of prime/commercial banks, and the borrowers’ issue is backed by the commitment of the syndicate banks to purchase any paper which the borrowers may be unable to sell.

White & Case LLP has advised E.ON SE on the issuance of Green notes with an aggregate principal amount of €750 million.

White & Case is a global law firm with longstanding offices in the markets that matter today. Our on-the-ground experience, our cross-border integration and our depth of local, United States and English-qualified lawyers help our clients work with confidence in any one market or across many.

E.ON intends to use an amount equal to the net proceeds from the issuance for ‘Eligible Green Projects’ in line with its Green Bond Framework, which is the first European Union Taxonomy aligned green bond framework.

The notes have a term of slightly under 12 years and a fixed coupon of 0.600%, and were admitted to trading on the regulated market of the Luxembourg Stock Exchange.

The White & Case team in Frankfurt which advised on the transaction was led by partner Karsten Wöckener and included local partner Peter Becker and associate Daniel Gillenkirch.

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