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Thursday, 6 April 2017

Qatar Sheikh Said to Use Margin Loan for Deutsche Bank Stake - Bloomberg

Qatar Sheikh Said to Use Margin Loan for Deutsche Bank Stake - Bloomberg:

"One of Deutsche Bank AG’s key Qatari shareholders is using a margin loan of about $1 billion, backed by the company’s stock, to fund his participation in the lender’s rights offer, according to people familiar with the matter.

Bank of America Corp. structured and agreed to finance the loan to former Qatari Prime Minister Sheikh Hamad bin Jassim bin Jabr Al Thani, the people said, asking not to be identified as the information is private. Hamad bin Jassim and the former emir of the country, Sheikh Hamad bin Khalifa Al Thani, have a combined stake of about 10 percent in Deutsche Bank, a level which they currently plan to maintain, the people said.

Representatives for Hamad bin Jassim’s office in Doha didn’t immediately respond to a request for comment. A spokeswoman for Bank of America declined to comment."



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