DZ Bank cleans up legacy tier ones

By Tyler Davies
13 Jan 2021

DZ Bank said this week that it will redeem eight tier one bonds issued out of special purpose vehicles, in preparation of the EU’s Capital Requirements Regulation transition period ending.

The German bank expects to call its capital instruments on various dates between February 22 and May 14.

It first issued the notes between 2003 and 2007, with the intention of building up a stock of perpetual additional tier one (AT1) debt.

But the bonds, which ...

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