Bumper books chase Munich Re’s debut green bond

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By David Freitas
15 Sep 2020

Munich Re was able to attract €5.7bn of orders for a new tier two on Tuesday, its first in green format. The issuer printed the deal through fair value using the momentum gained through the books.

Lead managers Citi, Crédit Agricole, Deutsche Bank, Goldman Sachs and HSBC went out with price thoughts in the 190bp area over mid-swaps on behalf of the German reinsurer.

They were marketing a long 20 year non-call 10 tier two bond in green format ...

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