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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
SSA
PRCD
DBR
Federal Republic of Germany€4,000
1EMEA
Mar 3, 2026
currency
EUR
size (m)
4,000.000
maturity
May 15, 2041
type
Fixed
tenor
15.250
call
-
registration
Reg S Only
benchmark
DBR
ranking
Unsecured
moody's
Aaa
s&p
AAA
fitch
AAA
size description
-
re-open/tap
No
ipt
-
ipt-pxd
-0.5
guidance
DBR-0.5 area
spread
-1
coupon
2.60%
spread set
-
price
93.55200
yield
3.14%
book size (m)
22,000
peak book (m)
-
x-covered
5.5
book attrition
-
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
22,000
peak book (m)
-
x-covered
5.5
book attrition
-
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 22000; First Pay: 2026-05-15; Registration: Reg S Only; Comments: EUR4bn( EUR1bn retained by issuer) 15.25yr fxd Green cpn 2.60% at 93.552, yld 3.14%. Spread: DBR-1. DBR 2.6% 05/2041 (DE000BU2F009) - conventional twin - @ 93.435 / 3.150%, HR 100%;
Deal Comments
This is EUR4bn deal inc. EUR1bn retention from the issuer Reoffer: 15yr: DBR-1bp / 93.552 / 3.140% Benchmark: 15yr: DBR 2.6% May-41 @ 93.435 / 3.150%, HR 100% Spread set at: 15yr: DBR-1bp - Books above €22bn (incl. €1.2bn JLM interest) Guidance: 15yr: DBR-0.5bp area Issuer: Federal Republic of Germany Ratings: Aaa/AAA/AAA (Moody's/S&P/Fitch) (all stable) Format: Reg S only, Bearer in dematerialised format (German Law), CAC Selling Restrictions: United States (or to US persons within the meaning of the US Securities Act 1933 – Reg S category 1 only, TEFRA not applicable), Australia or any other jurisdiction in which such offer or solicitation would be unlawful Size: €4bn (incl. €1bn retention from the issuer) Maturity: 15-May-41 Coupon: 2.6% Fixed, Annual Act/Act, full first on 15-May-26 incl. 299 days of accrued Spread: -1bp vs. Reference Bond (MID) Reference: DBR 2.6% May-41 (DE000BU2F009) - conventional twin - @ 93.435 / 3.150%, HR 100% Reoffer: 93.552 / 3.140% Settlement: 10-Mar-26 (T+5) Listing: All domestic Exchanges Law: German Law Denominations: €0.01 Target Market: Eligible, professional and retail counterparties, All distribution channels (MiFID II) Docs: Standalone issue. Only terms and conditions. No prospectus or any other formal offering document will be produced to allow for the offering of the Bonds in any jurisdiction. The terms and conditions of the Bonds are published in the Federal Gazette (Bundesanzeiger) and will be made available on http://www.deutsche-finanzagentur.de Fees: The Bookrunners will be paid a fee ISIN: DE000BU3F007 Bookrunners: BNP Paribas, Danske Bank, Deutsche Bank (B&D/DM), DZ BANK, NatWest and Societe Generale Green Bond Framework: Federal Republic of Germany Green Bond Framework (version dated 15-Jan-26) Use of Proceeds: As described in the Green Bond Framework (nominal value) Stabilisation: FCA/ICMA Green Bond Framework Link: https://www.deutsche-finanzagentur.de/en/federal-securities/types-of-federal-securities/green-federal-securities/targets-framework Timing: PRICED. TOE: 12.48 CET

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