Deutsche Bank EUR1.25bn 5.625% May 26 tier two

  • By Tyler Davies
  • 14 May 2020

Rating:A3/BBB+/BBB+

Amount:€1.25bn of tier two capital

Maturity: 19 May, 2031

Call date:19 May, 2026

Issue/reoffer price: 99.494

Spread at reoffer: mid-swaps plus 600bp

Coupon: 5.625%

Launched: Monday, May 11

Payment date: May 19

Sole books:Deutsche Bank


Market appraisal:

“…this is the first time ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Credit Suisse 5.84 24 5.90%
2 LBBW 5.48 29 5.53%
3 UniCredit 4.81 32 4.85%
4 Natixis 4.72 22 4.77%
5 HSBC 4.60 21 4.65%

Bookrunners of Global FIG

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 61.13 205 7.99%
2 BofA Securities 52.07 222 6.80%
3 Citi 47.46 206 6.20%
4 Wells Fargo Securities 45.38 112 5.93%
5 Morgan Stanley 42.48 157 5.55%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 53.52 155 12.58%
2 BofA Securities 42.96 182 10.10%
3 Wells Fargo Securities 42.83 101 10.07%
4 Citi 41.06 174 9.65%
5 Morgan Stanley 37.19 120 8.74%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 LBBW 4.48 20 8.06%
2 Natixis 4.08 16 7.33%
3 Commerzbank Group 3.53 13 6.34%
4 UniCredit 3.28 14 5.90%
5 Credit Agricole CIB 3.27 13 5.88%

Global FIG Revenue

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 0.37 497 7.62%
2 JPMorgan 0.33 618 6.92%
3 Bank of America Merrill Lynch 0.30 590 6.24%
4 Goldman Sachs 0.28 375 5.76%
5 Citi 0.26 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 3.76 11 12.91%
2 Deutsche Bank 2.91 6 9.97%
3 Barclays 2.39 15 8.19%
4 NatWest Markets 2.11 6 7.22%
5 Credit Agricole CIB 2.00 8 6.87%