| Issuer / Guarantor | MTU Aero Engines AG |
|---|---|
| Size | EUR 600mn |
| Type | Convertible |
| Leads | BNP Paribas, Deutsche Bank, HSBC |
| Maturity | 15 Jul 2033 (7.5 years) |
| Coupon | 0% (0.125 - 0.625%) |
| Premium | 47.5% (42.5 - 47.5%) |
| Calls | @ 100% from Aug 2031 (5.6 yrs); 130% trigger |
| Puts | t/o @ 100% |
| Div protection | Ratio adjustment (Full) |
| T/o protection | c/t ratchet |
| CoCo | 130% to Jan 2031 (5 yrs) |
| Announced | 08 Jan 2026 |