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Deutsche Bank - Tender Offer (DE) - Launch

Deutsche Bank announces public tender offer for Deutsche Postbank Funding Trust I & III securities - DE000A0DEN75 - DE000A0D24Z1


09 NOVEMBER 2023


Full announcements, including disclaimers and restrictions available via Deutsche Bank


"Deutsche Bank (XETRA: DBGn.DB / NYSE: DB) announces an any and all tender offer for trust preferred securities issued by each of Deutsche Postbank Funding Trust I & III. Further details are set out in the Tender Offer Memorandum referred to below.


Despite the loss of recognition as regulatory capital and as Minimum Requirement for Own Funds and Eligible Liabilities (MREL), Deutsche Bank currently has no intention to exercise its optional redemption rights for these instruments as they still represent as an efficient source of funding. Deutsche Bank is aiming to provide liquidity to current bond holders.


The tender offer encompasses the two following Euro-denominated trust preferred securities issued by Deutsche Postbank Funding Trust I & III in 2004 /2005:"


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The tender offer will expire at 5.00 p.m. (CET) on Wednesday, 22 November 2023."


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"Rationale for the Offers


The Trust Preferred Securities represent an efficient source of funding for the Offeror and therefore, despite the loss of recognition as regulatory capital and MREL, the Offeror currently has no intention to exercise its optional redemption rights in respect of either Series of the Trust Preferred Securities. The Offers are aimed at providing liquidity to Holders."


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