Deutsche squeezes in senior tap as focus shifts to LM

Despite widening in the rest of the senior unsecured market, Deutsche Bank on Friday saw fit to tap its 2013 floating rate notes on Friday — which originally priced at the end of September, reopening the senior market after the summer drought — by €250m, bringing the total amount issued to €2bn. Bankers called the deal “a sign of life” but said it was unlikely to have much of a positive effect on the wider market.