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Deutsche Bank holds vote without meeting for Libor transition
Chicago, Oct. 22 – Deutsche Bank AG will hold a vote without a meeting for the transition to Sonia as a benchmark rate for its £650 million undated non-cumulative fixed-to-reset rate additional tier 1 notes of 2014 (ISIN: XS1071551391), according to an announcement.
The vote is being held to prepare for the cessation of Libor.
The rate would be adjusted to the new reference rate plus the initial credit spread of 425.7 basis points and an adjustment rate of 27.66 bps.
Holders can vote from 6 p.m. ET on Nov. 10 to 5:59 p.m. ET on Nov. 15.
Consent instructions can also be cast through Lucid Issuer Services Ltd. as tabulation agent before 5:59 p.m. ET on Nov. 10.
Results will be published in the Federal Gazette and each holder has a one-month period to contest which will expire at 6 p.m. ET on Dec. 18.
Deutsche Bank AG is the solicitation agent (+44 207 545 8011).
Lucid can be contacted through their London office (+44 207 704 0880, db@lucid-is.com, https://deals.lucid-is.com/db).
The banking and financial services company is based in Frankfurt.
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