DB reassessed upon AT1 comeback

摘要

Deutsche bank made a triumphant return to the Additional Tier 1 market last week with a deal that goes some way to change perceptions of the credit, though not all investors are convinced and the jury is still out as to whether the bank will call its old bonds. The deal, Deutsche's first AT1 in six years, would have been unthinkable just months ago. For years the bank was, in effect, priced out of the market but an untamed rally in the asset class and a deep restiucturing of the bank gave the issuer the impetus to return.