Deutsche Bank Undertakes Issuance Of Additional Tier 1 Capital

(RTTNews) - Deutsche Bank AG said Monday that its Management Board has resolved with the approval of the Chairman's Committee of the Supervisory Board to undertake an inaugural multi currency Additional Tier 1 transaction.

Each tranche is expected to be of benchmark size for the respective market and total a minimum of €1.5 billion in aggregate, the company said.

Deutsche Bank noted that the issuance will be the third step in a co-ordinated series of measures, announced on 29 April 2013, to further strengthen the Bank's capital structure and follows a €3 billion equity capital raise in April 2013 and the issuance of US$1.5 billion CRD4 compliant Tier 2 securities in May 2013.

Monday's announced transaction is the first step towards reaching the overall targeted volume of about €5 billion of CRD4 compliant Additional Tier 1 capital which the Bank plans to issue by the end of 2015.

The transaction will take the form of participatory notes, with temporary write-down at a trigger level of 5.125% phase-in Common Equity Tier 1 capital ratio.