Deutsche Bank AG issued Additional Tier 1 capital instruments with a principal amount of 1.50 billion euros (ISIN DE000A383S52). The securities bear a fixed coupon of 7.375%, payable annually, until 30 April 2032. The applicable rate of interest will be reset at five-year intervals starting on 30 April 2032 on the basis of the then prevailing 5 year Euro swap rate plus the initial credit spread of 5.112% per year.
Hengeler Mueller advised the joint lead managers on the transaction.
Hengeler Mueller team for Deutsche Bank
Capital Markets: Alexander Rang (partner, lead), Pascal Brandt (senior associate), Konrad Schäfer, Dennis Stottmann (both associates, all Frankfurt),
Tax: Matthias Scheifele (partner), Tim Würstlin (senior associate, both Munich).