DGAP-News: Commerzbank successfully issues further additional tier 1 bond
DGAP-News: Commerzbank Aktiengesellschaft
/ Key word(s): Issue of Debt
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. - Second issuance under ongoing programme - Bond volume of €500 million - coupon laid down at 6.5% per annum Commerzbank AG has successfully issued the second 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 6.5% per annum. With a volume of more than €2.4 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. 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 27 basis points to 9.82% pro forma as at the end of June 2020. At the end of 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. It allows Commerzbank to make use of the regulatory changes, whereby AT 1 can now be used to a greater extent to meet the capital requirements. In June of the current year, Commerzbank had already issued a first AT 1 bond under its issuance programme with a volume of €1.25 billion. The new bond has a perpetual maturity and a first call date from October 2029 to April 2030. 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 Bank of America, Barclays, BNP Paribas, Commerzbank and Crédit Agricole. ***** Press contact ***** About Commerzbank ***** Disclaimer
08.09.2020 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: | [email protected] |
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: | 1128761 |
End of News | DGAP News Service |
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1128761 08.09.2020
Commerzbank AG Stock
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