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Mayer Brown advises banking consortium on issuance of EUR 300,000,000 2.875 per cent callable and resettable notes

17 July 2017
Mayer Brown represented lead managers Credit Suisse, J.P. Morgan and Morgan Stanley on the issuance of EUR 300,000,000 callable and resettable subordinated notes of Deutsche Pfandbriefbank AG. The notes have been issued under the EUR 50 billion debt issuance program of Deutsche Pfandbriefbank.

The so-called Tier 2 notes are due on 28 June 2027 and provide for an issuer call right. Initially, the rate of interest is set at 2.875 per cent and will be reset based on a swap rate on a reset date specified in the terms and conditions of the notes.

The notes have been admitted to trading on the Main Securities Market of the Irish Stock Exchange. The related “drawdown prospectus“ has been approved by the Central Bank of Ireland as competent authority.

The Mayer Brown team included partner Dr. Jochen Seitz (lead, Frankfurt), James Taylor (London), senior associate Markus Brusch as well as associates Stefan Schrewe and Christin Kotzur (all three Frankfurt, all Banking & Finance).