Federal Republic of Germany’s €4 Billion Green Federal Bond Offering

Dentons advised the German Federal Finance Agency, while White & Case advised a syndicate of banks on the issuance.

The Federal Republic of Germany (Bund), represented by the Federal Ministry of Finance, which is in turn represented by Bundesrepublik Deutschland – Finanzagentur GmbH (Finance Agency), announced a green bond.

The Federal bond has a principal amount of €4 billion, a thirty-year term and a fixed coupon of 0.00%. This latest issuance increases the volume of the existing 2021 Green Federal Bond, bringing it to €10 billion. 

A syndicate of banks – including Barclays, Commerzbank AG, Crédit Agricole CIB, HSBC, Morgan Stanley and Nomura – carried out the placement of the Federal bond with national and international investors.

The White & Case team in Frankfurt that advised on the transaction was led by partner Karsten Wöckener  and included associate Daniel Gillenkirch.

Frankfurt-based partner Oliver Dreher led the Dentons legal team on the transaction.

Finanzagentur des Bundes (Federal finance agency, inhouse): Dr. Arnd Düker, Bastian Martin.

Involved fees earner: Oliver Dreher – Dentons; Nadja Reiß – Dentons; Daniel Gillenkirch – White & Case; Karsten Wöckener – White & Case;

Law Firms: Dentons; White & Case;

Clients: Barclays Bank; Commerzbank AG; Crédit Agricole Corporate and Investment Bank; German Federal Finance Agency; HSBC; Morgan Stanley; Nomura;