Deutsche Börse AG Launches Convertible Bonds Offering

Deutsche Börse AG has initiated an offering of unsubordinated, unsecured convertible bonds totaling EUR 600 million, due in 2031. Approved by its Supervisory Board, the launch excludes shareholder pre-emptive rights. The bonds will convert into new or existing company shares or be repaid in cash.

Issued at 100% of their principal amount with an interest rate of 0.50% p.a., the bonds will be redeemed by 2031 at 105.84% to 108.53% of their principal, implying a yield to maturity of 1.625% to 2.125%. The initial conversion price will reflect a 30%-35% premium over the reference share price on Xetra.

The company plans to use proceeds for general corporate purposes, including debt refinancing. Settlement is anticipated on 16 September 2026, with the bonds expected to list on the Frankfurt Stock Exchange.