"Dentons Advises on Islamic Development Bank's €500 Million Green Sukuk Issuance"

"Dentons, the world's largest law firm, advised a group of banks led by HSBC on the Islamic Development Bank's issuance of €500 million in green trust certificates, which was completed on October 15, 2025. The issuance, part of a $25 billion program, was highly successful, attracting over €2.6 billion in orders and becoming IsDB's largest euro orderbook. The proceeds will finance projects with environmental benefits. Dentons emphasized the importance of sustainability in global debt markets through this transaction."

**Law Firms Involved in the Transaction:** Dentons, the world's largest global law firm, advised a syndicate of banks including Barclays, BNP PARIBAS, Commerzbank, Crédit Agricole CIB, HSBC Bank plc, ING, and Nomura, serving as joint lead managers for the transaction. **Transaction Overview:** On October 15, 2025, the Islamic Development Bank (IsDB) successfully issued €500 million in 2.793% green trust certificates due 2030 under its US$25 billion trust certificate issuance programme. The issuance, which was made through a special purpose vehicle incorporated in Luxembourg, was significantly oversubscribed with an orderbook exceeding €2.6 billion, marking IsDB’s largest-ever euro orderbook. The trust certificates were listed on Euronext Dublin, NASDAQ Dubai, and the London Stock Exchange’s International Securities Market, and were offered to sophisticated investors outside the US in reliance on Regulation S under the US Securities Act of 1933. Proceeds from the issuance will be used to finance and/or refinance eligible projects with environmental benefits as defined in the Sustainable Finance Framework. **Legal Team:** The Dentons team was led by: - Matthew Sapte, Partner, Banking and Finance - Victoria Wyer, Partner, Debt Capital Markets They were assisted by: - Marcus Ang, Senior Associate - Naomi Scheyerle, Paralegal

"Dentons Advises on Islamic Development Bank's €500 Million Green Sukuk Issuance"

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