Deutsche Bahn, the German rail infrastructure operator, is to mark the demise of the Deutschmark with the last ever bond denominated in that currency, just a few weeks before European legacy currencies are phased out.

The deal, which is expected to raise at least DM50m (€25.5m), will be issued by Deutsche Bahn Finance, an Aa1/AA rated company that is guaranteed by the parent. The deal will have a five-year maturity.