KBL European Private Bankers

1960s

Cold War intensifies & Europe enters economic golden age

1961

First bond issue

1961

First bond issue

KBL issues the first international bond loan in European Currency Units – a basket of currencies used by the European community as the unit of account before being replaced by the euro. KBL then frequently operates as a lead and co-lead manager for bank operations in the euro market
1963

First international loan denominated in US dollars

1963

First international loan denominated in US dollars

The Interest Equalization Tax is introduced, along with export restrictions imposed by American authorities, creating the perfect opportunity for KBL to increase its areas of operation. This year sees KBL’s first international loan denominated in US dollars
1965

Financial holding company introduced

1965

Financial holding company introduced

Initiated by KBL, the Luxembourg authorities allow for the creation of “financial holding companies,” a structure that facilitates the funding of numerous international industrial groups via Eurobonds
1966

Constant Franssens appointed CEO

1966

Constant Franssens appointed CEO

In 1966, Constant Franssens is appointed CEO, a position he would hold until 1988. From 1979-81, Franssens also heads the ABBL (Association des Banques et Banquiers, Luxembourg)
1967

KBL engages in Eurobond trading

1967

KBL engages in Eurobond trading

KBL begins playing an important role in the organization of the secondary Eurobonds market. It also becomes involved in the development and implementation of a settlement system for transactions in Europe