News February 23, 2016

A message from Marcus Schenck: Deutsche Bank announces successful completion of Euro-bonds public tender

Dear Colleagues,

Today we successfully completed our public tender offer for some of our Euro-denominated senior unsecured debt securities. We completed this offer on schedule and as announced on February 12.

The tender offer enabled us to take advantage of market conditions to repurchase debt at attractive prices. We also used our strong financial profile to provide liquidity for bond investors while continuing to manage our funding levels.

As a result of this offer, we repurchased bonds with an aggregate principal amount of EUR 1.27 billion. This represents 14% of the total securities tendered. Because we repurchased these bonds at attractive levels, we anticipate a gain on this transaction of approximately EUR 40 million in the first quarter of 2016.

This relatively low level of investor take-up reflects improving market sentiment and a preference by investors to retain their investment in Deutsche Bank.

Our tender offer for US dollar-denominated senior unsecured debt securities will remain open until March 11. We plan to provide an update on bonds tendered during the first ten days of this offer on February 29.

Yours sincerely,

Marcus Schenck
Chief Financial Officer

How helpful was this article?

Click on the stars to send a rating