White & Case Advises Bank Syndicate on Issuance of Green Federal Bond with Principal Amount of €6 Billion
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Global law firm White & Case LLP has advised a syndicate of banks under the lead management of BofA Securities Europe SA, BNP Paribas, Citigroup Global Markets Europe AG, Commerzbank Aktiengesellschaft, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main and HSBC Continental Europe on the issuance of a Green bond of the Federal Republic of Germany (Bund).
Bund is represented by the Federal Ministry of Finance, which is in turn represented by Bundesrepublik Deutschland – Finanzagentur GmbH (Finance Agency). The Green Federal bond has a principal amount of €6 billion, a thirty-year term and a fixed coupon of 0.00%.
The Federal Republic of Germany spent an amount equal to the proceeds derived from the issue of the Green Federal bond for expenditures that comply, on the date of the issue of the Green Federal Bond, with the requirements stipulated by the Federal Republic of Germany in its Green Bond Framework dated 24 August 2020.
The White & Case team in Frankfurt that advised on the transaction was led by partner Karsten Wöckener and included associate Daniel Gillenkirch.
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