By Emese Bartha


Germany issued 3 billion euros ($3.27 billion) in the syndicated tap of the 1.80% August 2053 green Bund on Tuesday, one of the lead manager banks said.

Final books for the transaction exceeded EUR8.6 billion, one of the banks said, with this book size being significantly below the one indicated during the bookbuilding phase.

The issue size includes a EUR250 million tranche to be retained by the issuer, while the final books include EUR1.075 billion joint lead manager interest, the same bank said.

The spread on the bond was set 1 basis point below the yield of the conventional twin 1.80% August 2053 Bund. This represents the green premium, or greenium, suggesting that investors are accepting a 1 basis point lower yield on the green Bund versus the conventional twin.

The banks acting as joint lead managers were BofA Securities, Citi, Danske Bank, DZ Bank, NatWest Markets and Societe Generale.


Write to Emese Bartha at emese.bartha@wsj.com


(END) Dow Jones Newswires

06-04-24 0729ET