Waiting for news from Italy, Germany makes a successful debut in the green bond market. During the first issue held today, September 2, the Berlin green bond allegedly raised 6,5 billion euros, receiving requests for more than 30 billion. At the placement stage, the expected amount was 4 billion euro.
The bond has a 0-year maturity, a nominal coupon of 1%, and the expected price is XNUMX basis point below the spread of its conventional sister offerings. In fact, the German plan provides that investors who buy green bonds have the opportunity to exchange them for conventional bonds same-term German.
“Given its status as the largest economy in the EU and its intention to build a green yield curve over time, Germany is positioning itself to be a leader of sustainable finance in Europe"He said to Reuters Matthew Kuchtyak, analyst at Moody's.
Berlin's intention is to issue a range of bonds with different maturities in order to build a green yield curve. Not surprisingly, another bond with a 5-year maturity is expected by the end of the year.
Germany is not the first nation to launch sovereign green bonds. Before her came France, Belgium, the Netherlands, Ireland and Poland and so on news could also come from other countries.
The opening of the ECB to purchases of green bonds has in fact created quite a stir on the market, prompting many Member States to prepare sell placements. Among these should be theItaly which should issue its first green Btp in the autumn intended for institutional investors and retail customers and aimed at financing eco-sustainable initiatives.
However, Rome is preceded by the Luxembourg, which just today appointed the ECB, Bnp Paribas, Bil, Deutsche Bank and Societe Generale for the placement of a sustainable bond.
