By Aleesia Forni
Virginia Beach, Feb. 10 – Deutsche Bank AG, London branch priced $2.5 billion of notes (A3/A/A+) due 2018 in fixed- and floating-rate tranches on Tuesday, according to a market source.
The sale included a $500 million tranche of floating-rate notes priced at par to yield Libor plus 68 basis points. The notes sold on top of talk.
A second tranche was $2 billion of 1.875% three-year notes priced on top of talk at 90 bps over Treasuries.
The notes priced at 99.881 to yield 1.916%.
Deutsche Bank Securities Inc. was the lead manager.
The financial services company is based in Frankfurt.
| Issuer: | Deutsche Bank AG (London Branch)
|
| Issue: | Notes
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| Amount: | $2.5 billion
|
| Bookrunner: | Deutsche Bank Securities Inc.
|
| Trade date: | Feb. 10
|
| Ratings: | Moody’s: A3
|
| Standard & Poor’s: A
|
| Fitch: A+
|
| Distribution: | SEC-registered
|
|
|
| Three-year floaters
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| Amount: | $500 million
|
| Maturity: | Feb. 13, 2018
|
| Coupon: | Libor plus 68 bps
|
| Price: | Par
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| Yield: | Libor plus 68 bps
|
| Price talk: | Libor plus 68 bps
|
|
|
| Three-year notes
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| Amount: | $2 billion
|
| Maturity: | Feb. 13, 2018
|
| Coupon: | 1.875%
|
| Price: | 99.881
|
| Yield: | 1.916%
|
| Spread: | 90 bps
|
| Price talk: | 90 bps
|
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