Deutsche Bank has issued its first European green bond valued at €500.

The issue comes under the EU European Green Bond Standard which requires funds to be be invested in environmentally sustainable projects. DB will use the funds to refinance residential real estate loans. The issue has been  syndicated by Deutsche Bank, ABN AMRO, Crédit Agricole CIB, Natixis, NatWest Markets and SEB and pays a fixed annual coupon of 2.875% until February 2029 after which the rate will reset quarterly at three-month EURIBOR plus 0.65%.

Christoph Enderstein, debt capital markets partner at Norton Rose Fulbright who advised on syndication, said, “the successful placement of Deutsche Bank’s first European Green Bond sends an important signal for sustainable financing in Europe, and we are pleased to have supported the Joint Lead Managers in connection with this important transaction.”

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