Deutsche breaks AT1 silence with new dollar deal

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By Tyler Davies
11 Feb 2020

Deutsche Bank has unveiled plans to sell its first additional tier one (AT1) in more than five years, with market participants now expecting the German lender to call a bond that had once seemed certain to be left outstanding.

The issuer said in a statement on Monday afternoon that it was expecting to raise $1bn or more of AT1 capital in the dollar market.

Deutsche Bank opened order books for the perpetual non-call 5.75 year deal the following day, with initial price thoughts in the 6.75% area.

The ...

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