Germany's KfW sells USD-1bn green bond

Dollars in green. Author: 401(K) 2012.

October 4 (Renewables Now) - German government-owned development bank KfW last week issued a USD-1-billion (EUR 849m) green bond that saw “a particularly strong demand” from other lenders and asset manager.

The bond has a tenor of five years and matures on September 29, 2022. More than 80 investors took part in the deal, with solid demand from Europe (51%) and America (47%), the bank’s statement says. Lenders accounted for 44% and asset managers for 38%, followed by corporates with 10%. The order book closed surpassing EUR 2.4 billion (USD 2.83bn).

KfW said that this issuance brought the total net proceeds raised from green bond sales in 2017 to EUR 3.6 billion, already exceeding the EUR-2.8-billion total for 2016.

Bank of America Merrill Lynch, RBC and Toronto Dominion served as lead managers.

(USD 1.0 = EUR 0.849)

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