Clifford Chance advised Credit Industriel et Commercial S.A. on the innovative EUR 200m green bond issuance by Encevo S.A.

Global law firm Clifford Chance has advised Credit Industriel et Commercial S.A., as sole bookrunner, on the issuance of EUR 200m green bonds by Encevo S.A., the leading energy company in Luxembourg and the Greater Region. Encevo Group has a broad geographical footprint and serves clients in Luxembourg, Germany, France, Belgium and the Netherlands. It is present all along the energy value chain, from production, storage, supply and transport to trading, distribution and services.

In this groundbreaking transaction, which was Encevo's inaugural green bond issuance, an amount equal to the net proceeds from the issuance of the green bonds will be invested by Encevo in a selected pool of assets that promote the transition toward a sustainable economy and comply with the eligible categories set out in its Green Finance Program Framework, which has been assessed by Sustainalytics with a ‘strong’ rating.

The team advising Credit Industriel et Commercial S.A., was led by Martin Wurth, Luxembourg Global Financial Markets Partner, with the support of Antonio Arenas Torres, counsel in Luxembourg, and Alexander Tollast, counsel in Paris.

This transaction continues Clifford Chance's long-standing work for Encevo's lenders including advising on its EUR 750m facility agreement.