McCann FitzGerald LLP
McCann FitzGerald LLP advises ESB on €500 million inaugural European Green Bond issuance under its EMTN Programme
We are pleased to have advised our long-standing client ESB on its successful issuance of €500 million 4.375% European Green Bonds due 2037 under its €8 billion Euro Medium Term Note (EMTN) Programme.
The transaction represents the first issuance under the European Green Bond Regulation by an Irish corporate. The bonds are listed on the Global Exchange Market of Euronext Dublin.
The issuance follows the publication in August of ESB's updated Green Finance Framework (the “Framework”) and accompanying European Green Bond Factsheet (the “Factsheet”), which sets out how the proceeds from green financing will be used and managed. Eligible investments under the Framework and Factsheet include electricity transmission and distribution infrastructure, renewable electricity generation and battery energy storage systems
The McCann FitzGerald LLP team was led by Fergus Gillen and Éamon Ó Cuív and included Rachel Cosgrove, Avril Holton and Henry Sheehy O’Shea.
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