BIL and LuxCSD launch first domestic Luxembourg government bond
Banque Internationale à Luxembourg (BIL) as principal paying agent, and LuxCSD, as domestic central securities depository, have jointly worked to issue the first domestically launched Luxembourg government bond, with a 15 year term and raising €750m.
The launch comes some 50 years after BIL participated in the launch of the first Eurobond, when it served as the listing agent for a bond from Italian highway construction company Autostrade. BIL is the oldest private bank in Luxembourg, founded in 1856.
LuxCSD acts as a national provider of issuance and primary distribution, as well as a supplier of euro central bank money settlement and custody services. Jointly owned by the Luxembourg Central Bank and Clearstream International, it was founded in 2010 and went live in 2011 after being designated a Securities Settlement System by the central band of Luxembourg (BCL).