BIL behind the launch of LuxCSD’s first bond issue
Banque Internationale à Luxembourg (BIL) has acted as principal paying agent in the launch of the first Luxembourg government bond issued through LuxCSD, a domestic central securities depository.
This bond, the issuer’s longest dated so far with a 15 year tenor, launched into the primary markets on March 19 and has raised EUR750m.
The bond was issued through LuxCSD, the national provider for issuance and primary distribution and a supplier of Euro central bank money settlement and custody services founded in 2010.
BIL’s role was to oversee efficient communications between the issuer and the joint-lead managers/investors and to handle the delivery against payment transaction in the financial systems.
The bond issue benefits from Luxembourg’s regulatory environment known as being one of the world’s safest for the management and custody of collateral.
Through its partners and access to international financial market infrastructure, LuxCSD offers a range of issuance, settlement and asset servicing services at the same level as other international central securities depositories. Settlement is offered using low risk Euro central bank money. This also allows international customers to use LuxCSD’s services without any additional cost.