Deutsche Bank initiates public tender offer

Deutsche Bank has initiated a public tender offer for trust preferred securities issued by Deutsche Postbank Funding Trust I & III. The purpose of this offer is to provide liquidity to bondholders, and the bank does not intend to exercise its optional redemption rights for these securities, despite their loss of regulatory capital status and MREL (Minimum Requirement for Own Funds and Eligible Liabilities) recognition.

The offer encompasses two perpetual Euro-denominated securities that were originally issued by Deutsche Postbank Funding Trust I & III in 2004/2005. Each trust has EUR 300 million outstanding, with ISIN codes DE000A0DEN75 and DE000A0D24Z1, respectively. The offer is scheduled to conclude at 5 p.m. (CET) on November 22, 2023.

The details of the offer are outlined in a Tender Offer Memorandum dated November 9, 2023, with potential jurisdictional restrictions. Kroll Issuer Services Limited is acting as the Tender Agent for the memorandum. For more information, interested parties can access additional details on Deutsche Bank’s Investor Relations website or through contact numbers provided.

Deutsche Bank is a prominent German financial institution with a strong European and global presence, offering a wide range of financial services, including retail and private banking, corporate and transaction banking, lending, asset and wealth management products, and focused investment banking.

It’s important to note that the announcement contains forward-looking statements regarding Deutsche Bank’s strategic initiatives and expectations. These statements come with inherent risks, such as financial market conditions in Germany, Europe, the U.S., and other regions, asset price fluctuations, market volatility, and potential defaults by borrowers or trading counterparts. These risks are documented in Deutsche Bank’s filings with the U.S. Securities and Exchange Commission.

Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.

Contact us