Global law firm Freshfields advised Belfius, ING, NatWest and Rabobank as dealers on Elia Transmission Belgium’s inaugural issuance of €500m European Green Bonds. Elia Transmission Belgium is the country’s national electricity system operator.

 The transaction marked the first-ever issuance of EU Green Bonds in Belgium, establishing a new benchmark in the country’s sustainable finance landscape. Aligned with the EU Taxonomy Regulation, the proceeds of the EU Green Bonds will be used to support the development of the electricity grid.

The issuance was significantly oversubscribed, demonstrating strong investor confidence in Elia Transmission Belgium’s sustainability strategy.

The team advising the dealers was led by counsel Wouter Van Der Veken and principal associates Reinout Vrielinck and Laura Clark-Jones. Tax advice was provided by Nikolaas Van Robbroeck and Bo Debreuck.