Global law firm White & Case LLP has advised certain investment funds on a fixed rate treasury notes issuance for utility company Tussengemeentelijke Maatschappij der Vlaanderen voor Watervoorziening OV (TMVW), known by its commercial name Farys, under its €500 million Treasury Notes Programme.
Farys is an intermunicipal utility company (intercommunale) in the form of a cooperative corporation (opdrachthoudende vereniging), which provides drinking water supply, distribution and transportation, purification and facility management services to cities and municipalities in Flanders, Belgium.
The issuance comprised fixed rate treasury notes due 2043, to be listed on Euronext Growth Brussels. The notes were issued under the newly established €500 million Treasury Notes Programme, which will also enable Farys to issue green treasury notes for the financing or refinancing of specified green, social or sustainable projects. Belfius is the arranger under the Programme.
The White & Case team which advised on the transaction was led by counsel Willem Van de Wiele (Brussels, Luxembourg) and included local partner Christophe Goossens (Luxembourg, Brussels) and associates Sara Ben Othmen and Antoine Cleret de Langavant (Brussels, Luxembourg).
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