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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
DB
Deutsche Bank AG£500
1EMEA
Oct 7, 2026
currency
GBP
size (m)
500.000
maturity
Aug 4, 2032
type
Fixed to Floating
tenor
5.750
call
5.00
registration
Reg S Only
benchmark
G
ranking
Senior Non-Preferred
moody's
Baa1
s&p
BBB
fitch
A-
size description
-
re-open/tap
No
ipt
G+135 area
ipt-pxd
-20
guidance
STL
spread
115
coupon
6.125%
spread set
-
price
99.97300
yield
6.138%
book size (m)
1,070
peak book (m)
1,650
x-covered
2.14
book attrition
-35.15%
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
1,070
peak book (m)
1,650
x-covered
2.14
book attrition
-35.15%
nic
-
billing & delivering
active leads
-
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 1070; First Pay: 2027-08-04; Redemption: 2031-08-04; Registration: Reg S Only; Comments: Benchmark: UKT 0.250% due 31 July 2031 @ 80.290 (mid) / 80.270 (bid). Clean-Up Call: 75%. LEI: 7LTWFZYICNSX8D621K86;
Use of Proceeds
An amount corresponding to at least the net proceeds from the Notes will be designated for the refinancing of Green Assets according to the Issuer’s Sustainable Instruments Framework, dated September 2026, as updated from time to time
Relative Value

COMPS

Ticker

Ratings (M/S/F)

Amt. (mm)

Format

Cpn (%)

Call Date

Maturity

Bid UKT Spread

DB

Baa1/BBB/A-

750

SNP

6.125

12/12/2029

12/12/2030

94

KBCBB

A3/A-/A

500

SNP

5.146

31/07/2031

31/07/2032

98

HSBC

A3/A-/A+

750

HoldCo

5.29

16/09/2031

16/09/2032

97

INTNED

Baa1/A-/A+

500

HoldCo

4.875

17/09/2031

17/09/2032

94

UBS

A2/A-/A+

1000

HoldCo

5.697

08/09/2031

08/09/2032

97

BBVASM

Baa1/A-/A-

600

SNP

5.75

30/09/2031

30/09/2032

103