Mayer Brown advised Norddeutsche Landesbank Girozentrale and other banks as dealer counsel on the establishment of a EUR 7.5 billion new debt issuance program for notes and Pfandbriefe (lettres de gage) of NORD/LB Luxembourg S.A. Covered Bond Bank.

NORD/LB Luxembourg S.A. Covered Bond Bank has been established after the merger from NORD/LB Covered Finance Bank S.A. into NORD/LB Luxembourg S.A. The new entity is a subsidiary of Norddeutsche Landesbank Girozentrale. As a special lending institution it issues Pfandbriefe (lettres de gage) under Luxembourg law and adds complementary financing to NORD/LB Group. NORD/LB Luxembourg S.A. Covered Bond Bank serves in particular as a lender for public enterprises and savings banks as well as for public related infrastructure projects. Apart from these specialized lending activities, NORD/LB Luxembourg S.A. Covered Bond Bank is also active in financing corporates and in the factoring business. Within Germany, it takes on part of the public finance business.

The Mayer Brown team included partners Dr. Jochen Seitz (lead, Banking & Finance, Frankfurt) and Bernd Bohr (Banking & Finance, London) as well as associates Sarah Frank, Stefan Schrewe and Markus Brusch (all Banking & Finance, Frankfurt).