Issuance

On 2 September, 2020, the Federal government issued its first green Federal security. The issue of the first 10-year green Federal bond was followed by the first green Federal note and, in 2021, the first 30-year and the second 10-year Federal bond. A second green Federal Bond was newly issued in 2022.

Following a total issuance volume of € 11.5 bn in 2020 and € 12.5 bn in 2021 (in each case around 1 % of the annual issuance volume), a volume of € 14.5 bn green Federal securities was issued in 2022. An issuance volume in the range of € 15 to 17 bn is planned for 2023. Within this range, a new ten-year green Federal Bond and a new green Federal Bond with a minimum 15-year maturity will be issued via syndicate. In this context, multi-ISIN auctions may also be used for green Federal securities for the first time in 2023.

As in the past, the issues can be carried out using both the syndicate procedure and the established auction procedure. At the time of issuance of the green security, the volume of the conventional twin bond will be increased by the same amount, but will remain in the Federal government's own holdings.

 

Upcoming auctions

Recent Issuances

N: New Issue     R: Reopening     A: Allotment     B: Bids

TenderIssuanceBid/CoverVolumesYield
24.01.2023 Bobl/g (R)
DE0001030716
2.0
(A)
(B)
2.29%
02.11.2022 Bund/g (R)
DE0001030732
1.2
(A)
(B)
2.07%
20.07.2022 Bund/g (R)
DE0001030708
1.2
(A)
(B)
1.05%

Bid/Cover ratio: Ratio of volume offered to volume allocated

Green BUND Curve