By James McCandless
San Antonio, Nov. 15 – DZ Bank AG sold a $15 million offering of fixed-rate preferred senior notes (AA-/AA-) due Dec. 20, 2021 with a coupon of 1.5%, according to a filing.
Deutsche Bank AG is listed as the fiscal agent. DZ Privatbank SA is the paying agent.
Dividends will be paid annually starting on Dec. 17, 2019.
The preferreds are not redeemable before the maturity date.
DZ Bank plans to use the proceeds for general corporate purposes.
The company plans to list the preferreds on the Frankfurt Stock Exchange.
DZ Bank is a Frankfurt-based financial services company.
| Issuer: | DZ Bank AG
|
| Description: | Fixed-rate preferred senior notes
|
| Amount: | $15 million
|
| Maturity: | Dec. 20, 2021
|
| Fiscal agent: | Deutsche Bank
|
| Paying agent: | DZ Privatbank SA
|
| Coupon: | 1.5%
|
| Yield: | 1.5%
|
| Call: | None
|
| Pricing date: | Nov. 15
|
| Settlement date: | Dec. 17
|
| Ratings: | S&P AA-
|
| Fitch: AA-
|
| Distribution: | Frankfurt Stock Exchange
|
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