A&O Shearman advises on the first ever green Euro restricted tier 1 bond in the insurance sector

Published Date
Jun 11, 2024
A&O Shearman has advised a syndicate of joint lead managers on the issue of EUR500 million Perpetual Subordinated Fixed Rate Resettable Temporary Write-Down Restricted Tier 1 Notes by Fidelidade, a Portuguese insurance company.

Tom Grant a partner at A&O Shearman said: “This novel issuance was the first restricted tier 1 issuance by Fidelidade and the first ever green Euro restricted tier 1 issuance in the insurance sector. A&O Shearman was able to bring together our extensive experience in the ESG space and in the insurance regulatory capital space to advise on this deal.”

A&O Shearman previously advised the joint lead managers on Fidelidade’s debut issuance of tier 2 notes in 2021.

The A&O Shearman team comprised of partner Tom Grant, Louise Mitchell, senior associate and Sakhi Shah, associate.