Commerzbank Aktiengesellschaft
Commerzbank successfully issues further additional tier 1 bond
DGAP-News: Commerzbank Aktiengesellschaft
/ Key word(s): Miscellaneous
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. – Third issuance under ongoing programme – Bond volume of €500 million – coupon fixed at 4.25% per annum Commerzbank AG has successfully issued the third AT 1 bond under its issuance programme for additional tier 1 capital (AT 1). The bond has a volume of €500 million and a fixed coupon of 4.25% per annum. With a volume of more than €1.75 billion, the order book was several times oversubscribed, which reflects the extensive interest of investors. The bond will be listed on the Luxembourg Stock Exchange. Moody’s is expected to give the AT1 bond a rating of Ba2 and S&P a rating of BB-. With the issuance, Commerzbank further strengthens and optimises its capital structure. The new bond will reduce Commerzbank’s Common Equity Tier 1 (CET 1) requirement (MDA threshold) by 21 basis points to 9.40% pro forma as at the end of March 2021. In May 2020, Commerzbank had launched an issuance programme for AT 1 capital which enables it to gradually issue subordinated bonds with a total nominal value of up to €3 billion over the next years. In 2020, Commerzbank issued two AT 1 bond under its issuance programme with a net volume of €1.75 billion. The new bond has a perpetual maturity and a first call date from October 2027 to April 2028. The bond terms include a temporary write-down in the event that the Bank’s Common Equity Tier 1 ratio (CET 1 ratio) drops below 5.125%. The subscription right of the shareholders was excluded. Joint lead managers for the transaction were Citigroup, Commerzbank, Deutsche Bank, Santander and UBS. ***** Press contact About Commerzbank Disclaimer and Forward-Looking Statement
15.06.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Commerzbank Aktiengesellschaft |
Kaiserstraße 16 | |
60311 Frankfurt am Main | |
Germany | |
Phone: | +49 (069) 136 20 |
Fax: | – |
E-mail: | pressestelle@commerzbank.com |
Internet: | www.commerzbank.de |
ISIN: | DE000CBK1001 |
WKN: | CBK100 |
Indices: | MDAX, CDAX, HDAX, PRIMEALL |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1208298 |
End of News | DGAP News Service |
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