Linklaters Advised Deutsche Börse on €3 Billion Digital Bond Issuance

Linklaters Advised Deutsche Börse on €3 Billion Digital Bond Issuance

Linklaters advised Deutsche Börse AG on the successful issuance of €3 billion in corporate bonds in three tranches. These are the first corporate bonds placed with institutional investors to be represented by central register securities in accordance with the German Electronic Securities Act (eWpG). Clearstream Banking AG, Frankfurt, is the registrar and uses its own digital platform D7 for this purpose.

Deutsche Börse AG issued three tranches of corporate bonds with a total principal amount of €3 billion. The first tranche has a principal amount of €1 billion, an annual coupon of 3.875 per cent, and a maturity date of 2026. The second tranche has a principal amount of €750 million, an annual coupon of 3.750 per cent, and a maturity date of 2029. The third tranche has a principal amount of €1.25 billion, an annual coupon of 3.875 per cent, and a maturity date of 2033.

Linklaters, led by Frankfurt partners Alexander Schlee, Peter Waltz, and Counsel Martin Rojahn, advised Deutsche Börse AG on all aspects of the bond issuance, including capital markets, corporate, and tax law.