Dentons advises German Finance Agency on €4 billion increase in 30-year federal bond via syndicate

Frankfurt-Global law firm Dentons has again advised the German Finance Agency (Bundesrepublik Deutschland - Finanzagentur GmbH) on the successful syndication of a federal bond. An existing 30-year federal bond was reopened and increased by €4 billion, bringing its total issuance volume to €33.5 billion. The federal bond carries an interest rate of 2.90 percent.

The placement with national and international investors was carried out by a syndicate of banks led by Barclays, BNP PARIBAS, Citi, Deutsche Bank, J.P. Morgan and NatWest.

The Dentons team lead by Oliver Dreher has previously advised the German Finance Agency on numerous capital markets transactions, including the syndicated issuances of conventional and green German Federal Securities, most recently in 2026 on the placement of three federal bonds totaling €14 billion, including the debut Green Federal Bond under the German Finance Agency's new Green Bond Framework 2026.

Advisors:

Dentons (Frankfurt): Oliver Dreher (Lead Partner), Sven Henneke (Associate), Luis Anton Michalzik (Project Manager Legal, all Capital Markets)

German Finance Agency (in-house): Bastian Martin, Dr. Arnd Düker (both legal department)

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