Frankfurt—Global law firm Dentons advised the German Federal Finance Agency (Bundesrepublik Deutschland - Finanzagentur GmbH) on the successful syndicated placement of a €5 billion Green Federal Note (Grüne Bundesobligation) with a maturity of 5 years and a coupon of 1.30%. The bonds are issued in accordance with Germany‘s Green Bond Framework dated August 24, 2020. 

The placement with national and international investors was carried out by a syndicate of banks led by BofA Securities, Citi, Crédit Agricole CIB, DZ BANK AG und NatWest.

Partner Oliver Dreher, Head of the Debt Capital Markets (DCM) team in Germany, led the Dentons legal team on the transaction. Dreher and his team previously advised the German Federal Finance Agency on various capital markets transactions, including the placement of a $4 billion US Dollar Federal Bond, as well as the recent syndicated increases of an existing conventional Federal Bond by €4 billion to €13 billion, and of a Federal Green Bond by €4 billion to €10 billion.

Advisers to Bundesrepublik Deutschland – Finanzagentur GmbH

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

German Federal Finance Agency (inhouse): Bastian Martin, Dr. Arnd Düker

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