
Global law firm Hogan Lovells Cadwalader has advised Belfius Bank NV/SA, Deutsche Bank, Landesbank Baden-Württemberg, Natixis and Banque et Caisse d’Epargne de l’Etat, Luxembourg (Spuerkeess) as joint lead managers on the inaugural EUR 500 million Green Covered Bond issued by Spuerkeess on 7 October 2026. The transaction marks the first covered bond issuance under Luxembourg’s new covered bond legislation.
“The Luxembourg covered bond market under the new framework is just starting, it’s an exciting time to be part of such a great market development” said lead partner Ariane Mehrshahi Marks.
The Hogan Lovells Cadwalader Benelux team that advised on the transaction was led by Luxembourg-based partner Ariane Mehrshahi Marks, with the key support of Brussels-based partner Philip Van Steenwinkel. The team included Igesa Andrea (senior associate, Luxembourg), Sokaina Karroum (associate, Brussels) (both Structured Finance and Derivatives), and Gérard Neiens (partner, tax), Jean-Philippe Monmousseau (counsel, tax), and Michèle Aké (associate, tax).
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