Lehman to buy back €33 million of preferreds at 1.75% via bank tender

By Susanna Moon

Chicago, July 11 – Deutsche Bank AG, London Branch obtained tenders for €32,951,000 of the €225 million fixed-rate to CMS-linked guaranteed non-voting non-cumulative perpetual preferred securities issued by Lehman Brothers UK Capital Funding LP.

The notes contain a subordinated guarantee from Lehman Brothers Holdings plc.

Deutsche Bank accepted for purchase all of the tendered preferreds without proration, according to a notice.

As announced June 27, the bank was tendering for the notes at a purchase price of 1.75% of the liquidation preference.

The tender ended at 11 a.m. ET on July 10, with settlement set to follow on July 13.

The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880 or lehman@lucid-is.com).

New York-based Lehman Brothers was the fourth-largest investment bank in the United States. The company emerged from bankruptcy on March 6, 2012.

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