Deutsche Bank Launches Cash Tender Offer for Certain of its Outstanding Eligible Liabilities Senior Notes
Deutsche Bank Aktiengesellschaft (XETRA: DBKGn.DE / NYSE: DB) (“Deutsche Bank”) announced today an offer to purchase up to $1,000,000,000 of aggregate principal amount (subject to increase, the “Tender Cap”) of the 3.035% Eligible Liabilities Senior Notes due 2033, 2.311% Eligible Liabilities Senior Notes due 2027, 2.552% Eligible Liabilities Senior Notes due 2028, and its 2.129% Eligible Liabilities Senior Notes due 2026 (the “Notes”) for cash (the “Tender Offer”) at a purchase price determined in accordance with the procedures as described in the related Offer to Purchase also dated today (the “Offer to Purchase”).
The Offer to Purchase can be accessed at the following link: https://gbsc-usa.com/registration/db.
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The purpose of this Tender Offer is to proactively manage Deutsche Bank’s debt maturity profile and to provide liquidity to current bond holders. The table below summarizes certain information regarding the Notes and the Tender Offer, including the order of priority and purchase price information for the Notes.
Acceptance Priority Level(1) |
Title of Notes |
CUSIP Number / ISIN |
Principal Amount Outstanding (millions) |
Par Call Date |
Maturity Date |
US Treasury Reference |
Bloomberg |
Fixed Spread (bps)(2)(3) |
1 |
3.035% Eligible Liabilities Senior Notes |
251526CK3 / US251526CK32 |
$1,500 |
28 May 2031 |
28 May 2032 |
2.875% U.S. Treasury Notes due 15 May 2032 |
PX1 |
295 |
2 |
2.552% Eligible Liabilities Senior Notes |
25160PAH0 / US25160PAH01 |
$1,750 |
7 January 2027 |
7 January 2028 |
2.750% U.S. Treasury Notes due 31 July 2027 |
PX1 |
295 |