November 23 was settlement day for the €1.25 billion perpetual non-call five additional tier-1 (AT1) transaction that Deutsche Bank sold into a jumpy capital market the previous Monday.
Coming after a couple of months of heightened rates volatility on fears of rising inflation had kept AT1 issuers out of the primary market, the deal attracted €2.3 billion of demand and priced, as almost every deal always does, inside initial price guidance for a coupon of 4.75%,
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