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(DB) Deutsche Bank AG Issues $1.5 Billion in Notes

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Recently, Frankfurt-based Deutsche Bank AG (DB) issued $1.5 billion of subordinated notes that qualify under Tier 2 capital. The notes have a maturity date of May 24, 2028. The issuance of notes is part of the German lender’s newly made announcement to raise roughly $2.56 billion through a number of debt issuances. The notes carry a yield of 4.296%, equivalent to a 2.375% interest rate above the 10-year Treasury rate. Further, there will be a one-time call on May 24, 2023, when the debt will be reset to the 5-year mid-swap rate with an additional 2.2475%. Deutsche bank will be using the proceeds from the issuance for general corporate purposes, apart from boosting its regulatory capital level. The notes will likely receive ratings of Baa3 from Moody’s – a unit […]

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