Global law firm Dentons advised the German Federal Finance Agency (Bundesrepublik Deutschland - Finanzagentur GmbH) on a €4 billion Green Federal Bond issuance with a maturity of 30 years and a 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. According to the financial press, the issuance was several times oversubscribed.

The Federal Republic of Germany spent an amount equal to the proceeds derived from the bond issue of the Green Federal bond for expenditures that complywith the requirements stipulated in Germany‘s Green Bond Framework dated 24 August 2020. 

Frankfurt-based partner Oliver Dreher led the Dentons legal team on the transaction. Dreher and his team previously advised the German Federal Finance Agency (Bundesrepublik Deutschland - Finanzagentur GmbH) on various capital markets transactions, including the placement of a US$ 4 billion US Dollar Federal Bond issuance, as well as a recent syndicated increase of an existing conventional Federal Bond from €9 billion to €13 billion.

Advisers to German Federal Finance Agency (Bundesrepublik Deutschland – Finanzagentur GmbH)

Dentons (Frankfurt): Oliver Dreher (Partner, lead ), Nadja Reiß (Associate, both Capital Markets)

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

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