Pérez-Llorca advises on the issuance of €500m in covered bonds by Deutsche Bank
Pérez-Llorca has advised the directors (Lead Managers and Bookrunners) in the issuance of 500 million euros in covered bonds of Deutsche Bank
Deutsche Bank España has launched an issue of mortgage bonds with expected rating Aa1 from Moodys for an amount of 500 million euros, as reported this Tuesday to the Comisión Nacional del Mercado de Valores (CNMV).
The maturity date will be November 23, 2026 and will pay an annual coupon of 3.625%. Demand has doubled the offer, with around 1,000 million euros and more than 50 interested investors of excellent quality, which has led to a substantial improvement in the initial indications, resulting in better financing costs for the entity.
The transaction was underwritten by a group of banks led by Deutsche Bank AG.
Deutsche Bank SAEU returns to the market with this issue after four years of not having made similar issues. This EUR 500 million placement will help the bank to diversify its funding sources by optimizing its balance sheet management.
The team was formed by Yolanda Azanza, partner of finance and Santiago Bertola, lawyer of finance.
