By Susanna Moon
Chicago, Sept. 20 – Deutsche Bahn Finance GmbH priced €500 million of 1.375% 12.5-year senior green bonds (Aa1/AA-) with a spread of mid-swaps plus 28 basis points, according to a market source.
The reoffer price was 98.801 for a yield of 1.481%.
Deutsche Bahn AG (Aa1/AA) is guarantor.
The books were at about €750 million at reoffer, down from about €800 million at 6:30 a.m. ET with guidance of mid-swaps plus 30 bps plus or minus 2 bps.
The bookrunners are BayernLB, BNP Paribas as bill and deliver, Goldman Sachs International and SEB.
Proceeds will be used for general corporate purposes.
Deutsche Bahn is a German railway company based in Berlin, 100% owned by the Federal Republic of Germany.
| Issuer: | Deutsche Bahn Finance GmbH
|
| Guarantor: | Deutsche Bahn AG, owned by Federal Republic of Germany
|
| Issue: | Senior green bonds
|
| Amount: | €500 million
|
| Maturity: | March 28, 2031
|
| Bookrunners: | BayernLB, BNP Paribas (bill and deliver), Goldman Sachs International, SEB
|
| Coupon: | 1.375%
|
| Price: | 98.801
|
| Yield: | 1.481%
|
| Spread: | Mid-swaps plus 28 bps
|
| Benchmark: | Bunds plus 98 bps
|
| Call: | Three-month par call, clean-up call
|
| Pricing date: | Sept. 20
|
| Settlement date: | Sept. 28
|
| Ratings: | Moody's: Aa1
|
| S&P: AA-
|
| Distribution: | Regulation S
|
| Guidance: | Mid-swaps plus 30 bps plus or minus 2 bps
|
| Initial price talk: | Mid-swaps plus mid/high 30s
|
| Listing: | Luxembourg Stock Exchange
|
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