On Friday 14 November 2025, Luxembourg bank Spuerkeess (Banque et Caisse d'Épargne de l'État) announced the successful placement of its inaugural €500 million, six-year Senior Non-Preferred (SNP) bond, which was issued on Thursday 13 November.
The bank said this transaction represented a “milestone” in its capital markets strategy and further diversified its funding base, “bolstering protection” for senior creditors and depositors.
According to the bank, the bond carries a 3.25% coupon and will be listed on the Luxembourg Stock Exchange (LuxSE). Deutsche Bank acted as Global Coordinator, with Citigroup, J.P. Morgan and Société Générale serving as Joint Bookrunners.
The bank reported investor demand was solid, with the order book closing at over €1.1 billion, representing an oversubscription of 2.2 times the issuance size despite a competitive primary market. The order book was predominantly composed of high quality real-money accounts. The bank remarked: “This robust interest underscores investor confidence in Spuerkeess’ credit strength and long-term strategy.”
Doris Engel, Spuerkeess Chief Financial Officer commented: “This inaugural SNP benchmark issuance marks an important step in our funding strategy. The strong demand from high-quality investors confirms confidence in our credit profile, business model, and financial resilience, while reinforcing Spuerkeess’ broad market access.”
