By Cristal Cody
Chicago, March 16 – Deutsche Bank AG, New York Branch sold a debut green offering of 1.686% green notes in the United States, upsized to $800 million and due March 19, 2026, according to a market source.
The notes constitute senior preferred obligations of Deutsche Bank AG.
The notes were sold at par for a spread of Treasuries plus 87 basis points.
Initial price talk pegged the notes at in the Treasuries plus 110 bps area.
The notes started with a $500 million size. Order books were at $2.1 billion.
Deutsche Bank Securities Inc. was the bookrunner.
Proceeds will be used for the financing, or refinancing, of eligible green assets, according to a 424B2 filing with the Securities and Exchange Commission.
The banking and financial services company is based in Frankfurt.
| Issuer: | Deutsche Bank AG, New York Branch
|
| Issue: | Senior debt funding green notes
|
| Amount: | $800 million, upsized
|
| Maturity: | March 19, 2026
|
| Bookrunner: | Deutsche Bank Securities Inc.
|
| Coupon: | 1.686%
|
| Price: | Par
|
| Spread: | Treasuries plus 87 bps
|
| Trade date: | March 16
|
| Settlement date: | March 19
|
| Distribution: | SEC registered
|
| Price talk: | Treasuries plus 110 bps area
|
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