Deutsche seeks to swerve US taxes with $9.7bn bond exchange

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Deutsche seeks to swerve US taxes with $9.7bn bond exchange

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UNITED STATES - NOVEMBER 06: A stack of the current tax codes and regulations, sit on the dais during a House Ways and Means Committee markup of the Republicans' tax reform plan titled the Tax Cuts and Jobs Act, in Longworth Building on November 6, 2017. (Photo By Tom Williams/CQ Roll Call) | CQ-Roll Call/SIPA USA/PA Images

Deutsche Bank is looking to shift up to $9.7bn of dollar-denominated debt from European issuance entities to its New York branch, as part of an effort to avoid being taxed more heavily under US president Donald Trump’s incoming tax reforms.

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