White & Case advises a consortium of banks on TenneT’s €3.5 billion EU Green Bonds issuance

Global law firm White & Case LLP has advised a consortium of banks on the issuance of four tranches of fixed rate EU Green Bonds with an aggregate principal amount of €3.5 billion issued by TenneT GmbH & Co. KG (TenneT) as first issued under its €35 billion Debt Issuance Programme.

The bonds were issued in accordance with the Regulation (EU) 2023/2631 of November 22, 2023, on European Green Bonds and optional disclosures for bonds marketed as environmentally sustainable and for sustainability-linked bonds.

The first tranche has a principal amount of €1 billion, a four-year term and a fixed interest rate of 3.250% per annum. The second tranche has a principal amount of €750 million, an eight-year term and a fixed interest rate of 3.625% per annum. The third tranche has a principal amount of €1 billion, a twelve-year term and a fixed interest rate of 4.125% per annum. The fourth tranche has a principal amount of €750 million, a twenty-year term and a fixed interest rate of 4.625% per annum.

TenneT will apply an amount equal to the gross proceeds of the issuance of the Notes to finance or refinance the project(s) described in TenneT's European Green Bond Factsheet dated April 16, 2026.

The notes of the four tranches were admitted to trading on the regulated market of the Luxembourg Stock Exchange.

The White & Case team in Frankfurt that advised on the transaction was led by partner Karsten Wöckener and included local partner Felix Biedermann, associate Domenik Mack and transaction lawyer Nejc Jereb.

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