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Deutsche Bank fixes terms on AT1 bond as demand tops 25bn
May 20, 2014 / 11:38 AM / 4 years ago

Deutsche Bank fixes terms on AT1 bond as demand tops 25bn

LONDON, May 20 (IFR) - Deutsche Bank has fixed the final terms on its triple-tranche Additional Tier 1 bond having attracted orders in excess of 25bn-equivalent, according to a lead manager.

Germany’s largest bank will price a 1.75bn perpetual non-call eight-year at 6%, a US$1.25bn perpetual non-call six-year at 6.25%, and a £650m perpetual non-call 12-year at 7.125%, the tight end of revised guidance set on Tuesday morning.

There are over 1000 orders in the book, according to a source. The transaction will be priced later today. (Reporting by Aimee Donnellan, editing by Helene Durand, Julian Baker)

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