Deutsche Bank priced its inaugural European Green Bond on 10 February 2026, raising EUR 500 million in a four-year transaction callable after three years and carrying a coupon of 2.875%. The issuance is Deutsche Bank's first under the EU European Green Bond Standard, a regulation that became effective in December 2024 following its adoption by the European Parliament and Council in November 2023. Group Treasurer Richard Stewart said the issuance was a clear demonstration of the bank's commitment to the highest standards of sustainable finance.
Proceeds from the bond will be used exclusively to refinance residential real estate loans that comply with the EU Taxonomy's Green Buildings criteria. Deutsche Bank confirmed in its announcement that the underlying portfolio was fully allocated at the time of issuance.
FRAMEWORK AND INDEPENDENT REVIEW
The transaction follows Deutsche Bank's publication of an updated Sustainable Instruments Framework and a dedicated EuGB Factsheet in January 2026. Those documents set out the eligible asset categories, the alignment methodology with the EU Taxonomy and the reporting commitments the bank has assumed for the life of the bond. ISS Corporate Solutions provided an independent Second Party Opinion on the framework.
The EU EuGB standard requires that proceeds be allocated to economic activities aligned with the EU Taxonomy. For residential real estate, that means financed properties must meet specific energy performance thresholds.
APPLICATION OF THE STANDARD
The EuGB standard has applied since 21 December 2024, some 14 months before Deutsche Bank's issuance.
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