Soft dilution for SoFFin as Commerz repays aid with rights issue
Commerzbank on Wednesday set out plans to repay €2.5bn of hybrid capital with a fully-underwritten, discounted rights issue that also marks the start of the German government’s exit from the share capital.
Deutsche Bank, Citi and HSBC have provided the stand-by underwriting, with terms to be set after an annual general meeting and first quarter 2013 results in mid-to-late May. The deal isnt scheduled to complete until late May or early June.Deutsche has reprised its role on the banks larger ...
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