ProCredit postpones offering of euro three-year green bonds

By Rebecca Melvin

New York, Oct. 17 – ProCredit Holding AG & Co. KGaA has decided to postpone its proposed inaugural euro-denominated sub-benchmark offering of three-year green bonds, according to a syndicate source.

The Regulation S senior unsecured transaction had been set to price on Wednesday. But the company has decided to “give investors additional time and so would like to continue to work with accounts to ensure lines are in place before returning to the market,” the source said.

The company wrapped up roadshow meetings for the notes offering on Friday and went out with initial price talk on Wednesday for a yield spread of mid-swaps plus 145 basis points.

Deutsche Bank and ING were joint bookrunners for the senior unsecured notes transaction.

Based in Germany, the development-oriented commercial banking group focuses on small and medium enterprises in Eastern Europe.

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