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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
DB
Deutsche Bank AG€1,000
1EMEA
Jul 7, 2026
currency
EUR
size (m)
1,000.000
maturity
Jul 14, 2032
type
Fixed to Floating
tenor
6.000
call
5.00
registration
Reg S Only
benchmark
Swaps
ranking
Senior Non-Preferred
moody's
Baa1
s&p
BBB
fitch
A-
size description
-
re-open/tap
No
ipt
MS+120 area
ipt-pxd
-30
guidance
n/a - straight to launch
spread
90
coupon
3.625%
spread set
-
price
99.58700
yield
3.717%
book size (m)
6,500
peak book (m)
6,500
x-covered
6.5
book attrition
0.00%
nic
11
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
6,500
peak book (m)
6,500
x-covered
6.5
book attrition
0.00%
nic
11
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 6500; First Pay: 2027-07-14; Redemption: 2031-07-14; Registration: Reg S Only; Comments: OBL 193# 2.5% 04/06/31 + 103.3bps (@99.17%), HR 102%. Clean-Up Call: 75%. LEI: 7LTWFZYICNSX8D621K86;
Use of Proceeds
General Corporate Purposes
Relative Value

SNP - FTF
6NC5 (July 2032) @ MS+120 area

Implied Spread for fresh 5yr @ MS+79

Priced at MS+90
NIC of 11

COMPS

Ticker

Ratings

Cpn

Maturity

Call Date

Orig. Volume

i-bid Sprd

ESG

DB

Baa1/BBB/A-

2.875

Feb 19

19-Feb-29

500 mn

63

EuGB

DB

Baa1/BBB/A-

3.375

Feb 13

13-Feb-30

1,000 mn

73

-

DB

Baa1/BBB/A-

1.375

Feb 17

17-Feb-31

1,500 mn

76

-