White & Case advises bank syndicate on debut convertible bond issuance by Deutsche Börse with a total nominal amount of €600 million
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Global law firm White & Case LLP has advised the bank syndicate on the inaugural issuance of a senior unsecured convertible bond by Deutsche Börse Aktiengesellschaft.
The convertible bond has a total nominal amount of €600 million, matures on September 16, 2031, and has a fixed coupon of 0.50% per annum. Settlement of the convertible bond is expected to occur on September 16, 2026.
The convertible bond will be convertible into new and/or existing registered no-par value shares of Deutsche Börse. The existing shareholders' subscription rights have been excluded.
The company intends to use the net proceeds for general corporate purposes, including the refinancing of existing debt.
White & Case regularly advises on convertible bond issuances by German companies, most recently advising a consortium of banks on the issuance of senior bonds and hybrid bonds by Deutsche Börse (press release here).
The White & Case team which advised on the transaction was led by partner Karsten Wöckener and counsel Peter Becker.
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