DGAP-News: Commerzbank AG:
(firmenpresse) - DGAP-News: Commerzbank AG / Key word(s): Issue of Debt
Commerzbank AG:
08.03.2011 / 10:36
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NOT FOR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN,
THE UNITED STATES OF AMERICA OR THE REPUBLIC OF ITALY.
Commerzbank to optimise its Tier 2 capital structure
- New 10-year subordinated Benchmark note to be issued
- New 8-year subordinated note to be issued in exchange for two outstanding
subordinated notes
As a first step to optimise its Tier 2 capital structure, Commerzbank
intends to place a subordinated unsecured 10-year Benchmark note. The euro
denominated note will be placed with institutional investors by means of a
book built offering to be conducted by a syndicate of banks. The
bookbuilding process is expected to be launched shortly. The volume and
coupon of the note are to be fixed as part of the bookbuilding process.
In a second step, Commerzbank plans to make an invitation to holders of two
of its previously issued subordinated note issues with an aggregate
principal amount of EUR 2,000,000,000 to offer any and all of their notes
in exchange for new euro denominated subordinated notes to be due in 2019.
The new subordinated notes will be issued by Commerzbank. Holders of the
EUR 1,250,000,000 Subordinated Fixed to Floating Rate Notes of 2006/2016
(ISIN DE000CB07899) and the EUR 750,000,000 Subordinated Fixed to Floating
Rate Notes of 2007/2017(ISIN DE000CB8AUX7) may offer their notes to
Commerzbank for exchange during the exchange period, which begins on March
8, 2011 and is expected to end on March 17, 2011.
This combined transaction marks an important step in efficiently managing
the Bank's Tier 2 capital, while taking into consideration prevailing
market conditions. The transaction is intended to result in a long term
optimisation of the Bank's Tier 2 capital structure in the light of the
transition to Basel III. It will not have a direct impact on the Bank's
Core Tier 1 or Tier 1 capital.
The Dealer Managers for the exchange and Lead Managers for the issue of the
new Benchmark note are Barclays Capital, BNP Paribas, Citigroup and
Commerzbank.
Commerzbank does not currently intend to exercise its call options with
respect to any Subordinated Fixed to Floating Rate Notes of 2006/2016 (ISIN
DE000CB07899) or Subordinated Fixed to Floating Rate Notes of
2007/2017(ISIN DE000CB8AUX7) that remain outstanding after completion of
the exchange offers. Any future call decision will be made on an economic
basis and with regard to prevailing market conditions and regulatory
capital requirements.
Press contact:
Reiner Rossmann +49 69 136 46646
Maximilian Bicker +49 69 136 28696
*****
About Commerzbank
Commerzbank is a leading bank for private and corporate customers in
Germany. With the segments Private Clients, Mittelstandsbank, Corporates&Markets, Central&Eastern Europe as well as Asset Based Finance, the Bank
offers its customers an attractive product portfolio, and is a strong
partner for the export-oriented SME sector in Germany and worldwide. With a
future total of some 1,200 branches, Commerzbank has one of the densest
networks of branches among German private banks. It has above 60 sites in
more than 50 countries and serves approximately 14 million private clients
as well as one million business and corporate clients worldwide. In 2010 it
posted gross revenues of EUR 12.7 billion with some 59,000 employees.
*****
Disclaimer
THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA,
ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN
ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA
ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF
COLUMBIA (THE 'UNITED STATES'). THE OFFER REFERENCED HEREIN IS NOT BEING
MADE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, OR BY USE OF
THE MAILS, OR BY ANY MEANS OR INSTRUMENTALITY OF INTERSTATE OR FOREIGN
COMMERCE, OR OF ANY FACILITY OF A NATIONAL SECURITIES EXCHANGE, OF THE
UNITED STATES AND THE OFFER CANNOT BE ACCEPTED BY ANY SUCH USE, MEANS,
INSTRUMENTALITY OR FACILITY OR FROM WITHIN THE UNITED STATES.
NOT FOR DISTRIBUTION TO ANY PERSON LOCATED IN THE REPUBLIC OF ITALY.
This release does not constitute an offer to sell or a solicitation of an
offer to purchase any securities in the United States. The securities
referred to herein (including the Notes and the shares of Commerzbank have
not been and will not be registered under the U.S. Securities Act of 1933,
as amended (the 'Securities Act') or the laws of any state within the U.S.,
and may not be offered or sold in the United States or to or for the
account or benefit of U.S. persons, except in a transaction not subject to,
or pursuant to an applicable exemption from, the registration requirements
of the Securities Act or any state securities laws. This release and the
information contained herein may not be distributed or sent into the United
States, or in any other jurisdiction in which offers or sales of the
securities described herein would be prohibited by applicable laws and
should not be distributed to United States persons or publications with a
general circulation in the United States. No offering of the Notes is being
made in the United States.
End of Corporate News
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08.03.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Commerzbank AG
Kaiserplatz
60261 Frankfurt am Main
Deutschland
Phone: +49 (069) 136 20
Fax: -
E-mail: ir(at)commerzbank.com
Internet: www.commerzbank.de
ISIN: DE0008032004
WKN: 803200
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, Hannover, München, SIX, Stuttgart;
Terminbörse EUREX; London
End of News DGAP News-Service
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114686 08.03.2011
Datum: 08.03.2011 - 10:36 Uhr
Sprache: Deutsch
News-ID 33406
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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