IR news

First hybrid bond issued

Deutsche Bahn issued its first hybrid bond in its history with a volume of EUR 2 billion.

(Berlin, October 14, 2019) Deutsche Bahn successfully issued today the first hybrid bond in its history via its financing subsidiary, Deutsche Bahn Finance GmbH. The bond has a total volume of EUR 2 billion. The hybrid bond was issued in two tranches.

 1st tranche2nd tranche
Volumen (EUR million)1,0001,000

Maturity (years)

perpetual

perpetual

Non-Call Period

5.5 years10 years

Coupon (%)

0.951.60

Issuing price (%)

100100
Yield (%)0.951.60
ISINXS2010039035

XS2010039548

As a result, both tranches have achieved the lowest ever issue yield for a EUR hybrid capital issue for its respective non-call maturites.

The bond proceeds will be used by Deutsche Bahn for general corporate purposes.

The bond was placed to institutional investors from Europe and will be listed on the Luxemburg Stock Exchange.

The issuing consortium was jointly led by Barclays, Commerzbank, Goldman Sachs and J.P. Morgan.

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