AT1 investors reveal doubts about Deutsche Bank restructuring plans

Prices on Deutsche Bank’s additional tier ones (AT1s) plummeted after the German lender announced a radical overhaul of its investment banking business this week, with bank capital investors still doubting the issuer’s ability to pay coupons on the instruments in the longer term.

  • By Tyler Davies
  • 10 Jul 2019

Deutsche Bank’s €1.75bn 6% AT1 has fallen by more than five cash points in value in the past few days, hitting 86.75 on Wednesday morning.

Its other deeply subordinated securities have also been badly affected, dropping by a similar margin after the bank announced a broad new ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 10,226.87 87 6.02%
2 HSBC 9,674.59 50 5.69%
3 LBBW 8,393.04 48 4.94%
4 Natixis 7,217.47 36 4.25%
5 UBS 7,025.55 38 4.13%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 52,051.78 238 5.84%
2 Citi 51,670.64 278 5.79%
3 JPMorgan 51,080.22 263 5.73%
4 Morgan Stanley 37,731.07 213 4.23%
5 Goldman Sachs 35,336.68 307 3.96%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 42,487.11 196 11.16%
2 JPMorgan 40,694.28 200 10.69%
3 Citi 40,470.97 213 10.63%
4 Morgan Stanley 27,539.54 145 7.24%
5 Goldman Sachs 27,138.47 257 7.13%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 5,939.43 23 6.77%
2 LBBW 5,403.66 21 6.16%
3 UniCredit 5,082.55 24 5.79%
4 HSBC 5,076.13 19 5.78%
5 Credit Agricole CIB 4,965.07 22 5.66%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 6,170.54 15 14.50%
2 UBS 4,233.38 20 9.95%
3 BNP Paribas 3,846.71 16 9.04%
4 Credit Agricole CIB 3,549.81 11 8.34%
5 HSBC 2,155.16 15 5.06%