Proceeds from bonds will be used to fund climate-friendly projects
Global firm Clifford Chance has advised German energy company EnBW Energie Baden-Württemberg on its issuance of green bonds worth a total of €1bn.
EnBW's green bonds are certified in accordance with the strict standards of the Climate Bonds Initiative (CBI) and are due to be admitted for trading on the Luxembourg Stock Exchange. The proceeds from the bonds will be used exclusively to fund climate-friendly projects relating to the expansion of offshore and onshore wind energy and photovoltaic power.
The banking syndicate which financed the issue included BNP Paribas and Deutsche Bank acting as joint global coordinators and joint structuring advisers, with a further five banks acting as joint lead managers.
The Clifford Chance team comprised of partner Sebastian Maerker and associate Wolfgang Ettengruber in Frankfurt.