Commentary & Deal Flow

Guidance: 10yr: MS+22a

• Issuer: Grand Duchy of Luxembourg
• Ratings: Aaa/AAA/AAA (all stable)
• Format: Reg S only, Unsecured, Digitally Native Securities, 0% RW, HQLA/Level 1, ECB eligible
• Coupon: Annual, ACT/ACT
• Size: € Benchmark
• Maturity: 21-Oct-36
• Settlement: 21-Oct-26 (T+5)
• ISIN: LU3534860476
• Bookrunners: Barc / BCEE / BGL BNP Paribas / Citi (B&D) / CACIB
• Docs: Standalone LGB
• Denoms: €1k+1k
• Law: Luxembourg Law
• Clearing: Euroclear, Clearstream
• Listing: Luxembourg Stock Exchange
• DLT Platform Operator: LuxCSD S.A. (D7 Platform)
• Target market: Eligible counterparties, professional and retail (all distribution channels)
• Timing: Today's business
• Advertisement: The Information Memorandum, when published, will be available on the website of the Luxembourg Stock Exchange
• IP link: https://tresorerie.public.lu/dam-assets/fr/publications/investor-presentation/lu-investor-presentation-october-2026.pdf