Deutsche Bank to Buy Back $5.4 Billion in Debt Securities
February 12 2016 - 9:20AM
Dow Jones News
Deutsche Bank AG said it will buy back $5.4 billion of its
senior unsecured debt, in a move designed to bolster investor
confidence in the German lender's liquidity and in the value of its
securities.
The announcement Friday afternoon in Europe came at the end of a
volatile week for Deutsche Bank shares and the broader market for
bank stocks.
The buyback offer targets up to €3 billion ($3.4 billion) in
euro-denominated securities and $2 billion in U.S.
dollar-denominated securities.
Before the announcement, Deutsche Bank shares were up 8% Friday.
They've been whipsawed this week amid questions about the bank's
restructuring and ability to pay optional interest payments on its
riskiest debt.
The shares are down about 35% this year.
Write to Jenny Strasburg at jenny.strasburg@wsj.com and
Madeleine Nissen at Madeleine.Nissen@wsj.com
(END) Dow Jones Newswires
February 12, 2016 09:05 ET (14:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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