Chicago, Oct. 5 – Deutsche Bahn Finance GmbH priced €500 million of 3.875% notes with a 20-year tenor (Aa1/AA-) on Wednesday, a market source said.
The notes priced at 99.33 to yield 3.924%, or at a spread of 115 basis points to mid-swaps.
Initial price talk was 160 bps to 165 bps to mid-swaps. During pricing, the notes were guided to the 130 bps area.
Final books were around €4.5 billion when the spread was set.
The size was set at the outset.
The Regulation S notes were sold by Barclays (billing and delivery), BNP Paribas, Landesbank Baden-Wurttemberg and Raiffeisen Bank International.
Proceeds will be used for general corporate purposes, but the issuer is considered a climate-aligned issuer by the Luxembourg Green Exchange.
Deutsche Bahn AG (Aa1/AA) is guarantor.
Deutsche Bahn is a German railway company based in Berlin, 100% owned by the Federal Republic of Germany.
| Issuer: | Deutsche Bahn Finance GmbH
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| Guarantor: | Deutsche Bahn AG
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| Amount: | €500 million
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| Issue: | Notes
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| Maturity: | Oct. 13, 2042
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| Bookrunners: | Barclays (billing and delivery), BNP Paribas, Landesbank Baden-Wurttemberg and Raiffeisen Bank International
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| Coupon: | 3.875%
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| Price: | 99.33
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| Yield: | 3.924%
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| Spread: | Mid-swaps plus 115 bps
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| Trade date: | Oct. 5
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| Settlement date: | Oct. 13
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| Ratings: | Moody’s: Aa1
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| S&P: AA-
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| Distribution: | Regulation S
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| Price talk: | Mid-swaps plus 160 bps to 165 bps; guided to mid-swaps plus 130 bps area
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| ISIN: | XS2541394750
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