Deutsche Bank to Buy Back Senior Securities

   By Pietro Lombardi

Deutsche Bank AG (DBK.XE) is launching a public tender offer for euro-denominated securities with a target volume of 1.0 billion euros ($1.14 billion), it said Monday.

The bank is buying back euro-denominated senior non-preferred securities.

The German bank said in a statement that the transaction "is designed to help the bank optimize its future interest payments and maturity structure by taking advantage of a strong liquidity position."

"Using a small part of our high-cash position to repurchase senior non-preferred securities reflects our aim to redeploy excess liquidity without taking undue risk. This benefits all our stakeholders," Chief Financial Officer James von Moltke said.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

November 19, 2018 07:10 ET (12:10 GMT)

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