Today, Deutsche Bank AG (XETRA: DBKGn.DE / NYSE: DB) issued Additional Tier 1 (AT1) capital instruments for a total principal amount of €750 million. The issue meets Deutsche Bank’s solvency requirements and supports its Tier 1 leverage ratio.
The securities will bear a fixed coupon of 6.75%, payable annually, until April 30, 2029. The Bank may redeem the securities, subject to the prior approval of the supervisory authorities, on any day between October 30, 2028 and April 30, 2029, then between October 30 and April 30 of each following year. The applicable interest rate will reset every five years from April 30, 2029 based on the then prevailing 5-year Euro swap rate plus the initial credit spread of 5.692% per annum.
“We are pleased to have carried out this issue, which strengthens our capital and allows us to further deploy our balance sheet in the service of our customers”, declared Dixit Joshi, treasurer of the group. “The strong investor demand for the issue, which was more than seven times oversubscribed, reflects investors’ appetite for Deutsche Bank and support for our sustainable growth strategy based on successful transformation. We have launched 5 successful issues so far this year, including our recent €1.5bn Tier 2 capital issue, and have already completed a substantial part of our capital markets funding plan for 2022 . »
The new AT1 securities (ISIN DE000DL19WG7) are expected to be listed on the Luxembourg Stock Exchange and traded on its regulated market.
The denominations of the securities are 200,000 euros. Deutsche Bank AG acted as sole bookrunner for the offering.
The securities of Deutsche Bank AG mentioned in this press release have not been registered under the Securities Act of 1933, as amended (“Securities Act”) and will be issued under “Regulation S” of the Securities Act only and do not may be offered, sold or delivered in the United States absent registration under the Securities Act or an exemption from registration requirements.
For more information, please contact:
Deutsche Bank AG
Telephone: +49 69 910 38079
Telephone: +49 69 910 41864
+49 800 910-8000