Deutsche Bank (XETRA: DBKGn.DE/ NYSE: DB) announced the successful completion of the tender offers to repurchase up to 3 billion euros of five euro-denominated and up to 2 billion US dollars of eight US dollar-denominated senior unsecured debt securities. Deutsche Bank had launched the tender offers on 12 February 2016.
The two tender offers resulted in a repurchase of euro-denominated bonds with a notional value of 1.27 billion euros and of US dollar-denominated bonds with a notional value of 0.74 billion US dollars, equating to a total volume of 1.94 billion euros. During the last ten working days of the offer period for US dollar-denominated bonds investors tendered securities with a notional value of less than 1 million US dollars.
The relatively low investor participation in these public tender offers reflects improved market sentiment and an investor preference to retain exposure to Deutsche Bank.
Deutsche Bank expects to record a gain in the first-quarter 2016 of approximately 55 million euros from the repurchase of the securities.
Further details can be found on Deutsche Bank’s Investor Relations website under https://www.db.com/ir.