Frankfurt—Global law firm Dentons, with a team led by Oliver Dreher, has again advised the German Federal Finance Agency (Bundesrepublik Deutschland – Finanzagentur GmbH) on the successful placement of a syndicated federal bond.

The syndicate was structured as an increase of a federal bond first issued in February 2024 and has an issue volume of € 4.5 billion. The federal bond has a 30-year term, carries an interest rate of 2.50% and its total volume now amounts to € 11.5 billion as a result of the increase.

The placement with national and international investors was carried out by a banking syndicate led by Deutsche Bank, Goldman Sachs Bank Europe SE, HSBC, Morgan Stanley and Nomura.

Frankfurt-based Debt Capital Markets partner Dr. Oliver Dreher led the legal team, which included senior associate Philippa Münnich-Winter and associate Nadja Reiss. The team has already advised the Bundesrepublik Deutschland – Finanzagentur GmbH on numerous capital market transactions in the past, including the syndicated issues of various conventional and green German federal securities, most recently on the new issue of a € 6 billion conventional German federal bond.

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