Published on 11/14/2017 in the Prospect News Investment Grade Daily.
New Issue: Deutsche Bank sells $1.6 billion of floating-, fixed-rate notes in two tranches
By Devika Patel
Knoxville, Tenn., Nov. 14 – Deutsche Bank AG, New York Branch priced $1.6 billion of eligible liabilities senior notes (Baa2/BBB-/BBB+) in two parts, according to an FWP filed with the Securities and Exchange Commission.
Deutsche Bank sold $1.1 billion of 3.3% five-year notes at Treasuries plus 125 basis points. These notes were priced at 99.922 to yield 3.317%.
The issuer sold $500 million of five-year floating-rate notes at Libor plus 119 basis points. These notes were priced at par.
Deutsche Bank Securities Inc. was the lead manager.
The New York-based banking services company is a subsidiary of Deutsche Bank AG.
| Issuer: | Deutsche Bank AG, New York Branch
|
| Amount: | $1.6 billion
|
| Description: | Fixed-rate and floating-rate eligible liabilities senior notes
|
| Lead manager: | Deutsche Bank Securities Inc.
|
| Co-managers: | Academy Securities, Inc., BB&T Capital Markets, BBVA Securities Inc., BNY Mellon Capital Markets LLC, Capital One Securities, Inc., CIBC World Markets Corp., Citigroup Global Markets Inc., Commonwealth Bank of Australia, Daiwa Securities America Inc., Huntington Investment Co., Mischler Financial Group, Inc., R. Seelaus & Co., Inc., Regions Securities LLC, Santander Investment Securities Inc., Scotia Capital (USA) Inc., TD Securities (USA) LLC and Wells Fargo Securities LLC
|
| Trade date: | Nov. 13
|
| Settlement date: | Nov. 16
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB-
|
| Fitch: BBB+
|
| Distribution: | SEC registered
|
|
|
| Five-year notes
|
| Amount: | $1.1 billion
|
| Maturity: | Nov. 16, 2022
|
| Coupon: | 3.3%
|
| Price: | 99.922
|
| Yield: | 3.317%
|
| Spread: | Treasuries plus 125 bps
|
| Call: | Non-callable
|
|
|
| Five-year floaters
|
| Amount: | $500 million
|
| Maturity: | Nov. 16, 2022
|
| Coupon: | Libor plus 119 bps
|
| Price: | Par
|
| Yield: | Libor plus 119 bps
|
| Call: | Non-callable
|
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