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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
DBOERS
Deutsche Boerse AG€650
1EMEA
Mar 16, 2026
currency
EUR
size (m)
650.000
maturity
Mar 24, 2031
type
Fixed
tenor
5.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Sr. Unsecured
moody's
-
s&p
AA-
fitch
-
size description
-
re-open/tap
No
ipt
MS+100 area
ipt-pxd
-35
guidance
n/a - straight to launch
spread
65
coupon
3.25%
spread set
-
price
99.50100
yield
3.360%
book size (m)
4,000
peak book (m)
-
x-covered
6.15
book attrition
-
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
4,000
peak book (m)
-
x-covered
6.15
book attrition
-
nic
-
billing & delivering
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 4000; Registration: Reg S Only; Comments: EUR650m 5yr fxd cpn 3.25% at 99.501, yld 3.360%. Spread: MS+65bps. 82.2bps vs. DBR 0 02/15/31 (@88.410) / HR 107%. Par Call: 3m. CoC: Yes. Tax Call: Yes. Clean-up Call: 75%. LEI: 529900G3SW56SHYNPR95;
Deal Comments
Reoffer: 5yr: MS+65bp / 99.501 / 3.360% Benchmark: 5yr: DBR 0 15-Feb-31 @ 88.410 / B+82.2 / HR 107% Final Books: €4bn Launched: €650m at MS+65bp - Books €4bn (pre rec) IPTs: 5yr: MS+100a Issuer: Deutsche Börse Aktiengesellschaft (Ticker: DBOERS / Country: DE) Issuer LEI: 529900G3SW56SHYNPR95 Issuer Ratings: AA- (stable) by S&P Exp. Issue Ratings: AA- by S&P Status / Format: Reg S, bearer, senior unsecured, Central Register Securities (Zentralregisterwertpapiere), dematerialised Tenor: 5 years Size: €650m Settlement Date: 24-Mar-26 (T+6) Maturity: 24-Mar-31 Reoffer: MS+65bps / 99.501 / 3.360% Benchmark: 82.2bps vs. DBR 0 15-Feb-31 (@88.410) / HR 107% Coupon: 3.250% Fixed, Annual, Act/Act ICMA, following business day convention unadjusted ISIN: DE000A460QR6 Docs: EMTN / Frankfurt and Luxembourg Listing (both regulated market) / German Law / €1x1k denoms / Change of Control Put / Tax Call / Clean Up Call (75%) / 3m Par Call / Passporting / Offer Jurisdiction: Austria, Germany, Netherlands Offer Period: From 19-Mar-26 until settlement date 24-Mar-26 Selling Restrictions: As per the programme prospectus, US Reg S, Singapore, Switzerland Target Market / PRIIPs: Manufacturer target market (MIFID II/ UK MiFIR product governance) is eligible counterparties, professional clients and retail investors, each having (1) at least informed knowledge and/or experience with financial products, (2) a medium investment horizon, (3) asset accumulation as investment objective, (4) the ability to bear no loss / small losses and (5) a low risk tolerance (all channels for distribution of the Securities to eligible counterparties, professional clients and retail clients are appropriate). No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as this issuance is not considered to be a packaged retail investment product UoP: General corporate purposes, including the partial refinancing of the purchase price for the acquisition of the remaining minority shareholding in ISS STOXX Global Coordinator: Deutsche Bank (B&D) Joint Active Bookrunners: Deutsche Bank, J.P. Morgan, Société Générale Advertisement: This communication is an advertisement for the purposes of Regulation (EU) 2017/1129 and underlying legislation. It is not a prospectus. The Prospectus and the supplement to the Prospectus have been published and the Final Terms in relation to the Notes and any further supplements will be published on the website of the Issuer (www.deutsche-boerse.com) and on the website of the Luxembourg Stock Exchange (www.luxse.com) Timing: TOE 14.56UKT / 15.56CET // FTT 15.20UKT / 16.20CET
Use of Proceeds
General corporate purposes, including the partial refinancing of the purchase price for the acquisition of the remaining minority shareholding in ISS STOXX

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