About that Deutsche Bank capital… | FT Alphaville:
"Gather round nerds, and hear the tale of Deutsche Bank’s mysterious new CoCo bonds.
It’s a tale that involves an €8bn capital raising anchored by the Qataris, some German accounting standards and one terrible cereal-based pun.
For those who don’t watch the capital markets obsessively, you may have been unaware when Deutsche Bank announced on April 28 that it planned to issue €1.5bn of a type of contingent capital known as additional tier 1 capital.
The sale of the CoCo bonds was supposed to price last week but did not. Since this was before Deutsche’s weekend’s announcement of the capital raising, there was a lot of speculation (A LOT!) as to what had happened to the offer."
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