German utility EnBW has issued its first green bond, raising €500m to finance wind, solar and e-mobility projects.
The green bond matures in 2033 and has a 1.875% coupon.
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According to EnBW the green bond was reviewed by ISS-oekom as having met the criteria laid out under the International Capital Market Association’s Green Bond Principles.
The bond also meets the standards of the Climate Bonds Initiative, said EnBW.
EnBW finance director Thomas Kusterer said: “The fact that the bond was several times oversubscribed shows that the issuance supports our strategy. Capital markets reward this.”