Deutsche Bank (XETRA: DBKGn.DE/NYSE: DB) announces a public tender offer with a target acceptance volume of 1.0 billion euros of Euro-denominated senior non-preferred securities.
The transaction is designed to help the bank optimise its future interest payments and maturity structure by taking advantage of a strong liquidity position. As of 30 September 2018, the bank had liquidity reserves of 268 billion euros with a liquidity coverage ratio of 148%.
James von Moltke, Chief Financial Officer, said: “Using a small part of our high cash position to repurchase senior non-preferred securities reflects our aim to redeploy excess liquidity without taking undue risk. This benefits all our stakeholders.”
The tender offer encompasses two long-dated securities issued by Deutsche Bank AG:
1.125% March 2025 (ISIN: DE000DB7XJP9)
1.750% January 2028 (ISIN: DE000DL19T26)
The offer is expected to expire on Tuesday, 27 November 2018.
Information is available on Deutsche Bank’s Investor Relations website under www.db.com/ir or by contacting +44 20 7545 8011.
Requests for the Offer Documents may be directed to the Tender Agent: Lucid Issuer Services Limited (+ 44 20 7704 0880, firstname.lastname@example.org)
For further information please contact:
Deutsche Bank AG
Phone: +49 69 910 38079
Investor Relations+49 800 910 8000 (Frankfurt)
+1 212 250 0604 (New York)