German utility EnBW has launched its first green bond on the capital market, with an issue size of €500m ($570.8m), which was oversubscribed within hours.
The bond with a 15-year term to maturity has a coupon of 1.875%.
In contrast to conventional corporate bonds, the proceeds from a green bond must be used exclusively to fund climate-friendly projects, the utility says, adding that it is among the first German companies to have launched a green bond of this size.
