Commerzbank successfully issues additional tier 1 bond
BE SEMICON 88.62 TS PERP BNPPI
€1.48
18:30 19/04/24
Commerzbank Aktiengesellschaft (CZB) NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN, AUSTRALIA OR IN ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. Commerzbank successfully issues additional tier 1 bond - Issue meets with great interest on the part of investors - Bond volume of 1 billion US dollars - coupon laid down at 7.0% per annum Commerzbank AG has successfully issued its inaugural additional tier 1 bond. The bond has a volume of 1 billion US dollars and a fixed coupon of 7.0% per annum. As part of the marketing process, talks were held with more than 140 investors in Germany, Europe and Asia. The order book was several times oversubscribed, which reflects the extensive interest of investors. The bond will be listed on the Luxembourg Stock Exchange. With the issue today, the Bank is optimising its capital structure, also in light of changed regulatory requirements imposed by the European Banking Authority (EBA). The subordinated bond meets the criteria set out in the Capital Requirements Regulation (CRR) for additional tier 1 capital (AT1). The instrument has a perpetual maturity and a first call date in April 2025. The bond terms allow for a temporary write-down in the event that the core equity tier 1 ratio (CET1 ratio) of the Bank drops below 5.125 per cent. Joint lead managers for the transaction were UBS, Commerzbank, Barclays, HSBC, and JP Morgan. ***** Press contact ***** About Commerzbank ***** Disclaimer |
ISIN: | DE000CBK1001 |
Category Code: | MSCU |
TIDM: | CZB |
LEI Code: | 851WYGNLUQLFZBSYGB56 |
Sequence No.: | 12089 |
EQS News ID: | 834841 |
End of Announcement | EQS News Service |
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