Allen & Overy LLP advised Taiwan-based E.SUN Commercial Bank, Ltd. as manager in the context of the successful issue of bonds in the amount of USD 250 million by NRW.BANK.  The zero coupon multi-callable bonds, known as "Formosa Bonds", were placed with institutional investors in Taiwan. The Formosa Bonds are listed on the Taipei Exchange (TPEx) and are due 2047.  This makes NRW.BANK the first public sector issuer from Germany to have bonds listed in Taiwan.

The Allen & Overy team comprised partner Christoph Enderstein, paralegal Sven Steinbach (both International Capital Markets, Frankfurt), and senior associate Alexis Hayworth (International Capital Markets, London).

The debt capital markets team led by Christoph Enderstein advises both investment banks and issuers in connection with domestic and international capital market transactions, in particular on bonds, Pfandbriefe, securitised derivatives, structured notes, hybrid instruments, Schuldscheine, registered bonds and debt issuance programmes as well as all related regulatory issues.