Germany’s second foray into green debt received a surprisingly lukewarm welcome from investors.
It raised 4.6 billion euros ($5.4 billion) from the debut auction of five-year green debt, yet demand only exceeded the amount offered by 1.29 times. That lagged the oversubscription rate for its most recent sale of conventional five-year debt, and was far off the near-record demand seen in its first issue of 10-year green securities.
