Deutsche Bank delays repayment on $1.25 billion of debt as coronavirus hits market [Reuters]
Federated Hermes, Inc. (FHI)
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Source: Reuters
Deutsche Bank delays repayment on $1.25 billion of debt as coronavirus hits market LONDON/FRANKFURT (Reuters) - Deutsche Bank ( DBKGn.DE ) will delay repayment on $1.25 billion of bonds when they become redeemable next month, a rare move in the industry that could pave the way for other lenders to follow suit in a market shaken by the coronavirus outbreak. With the appetite for risky debt severely hit by recent market volatility, Germany’s biggest bank said on Wednesday it would hold on to $1.25 billion of so-called Additional Tier 1 (AT1) bonds rather than repay it. AT1 bonds - more commonly known as a type of contingent convertible, or CoCo, bonds - are the most risky debt banks can issue. They are designed to be perpetual in nature, though banks can repay them after a specified period - in this case, Apr. 30. It is usual for banks to repay them at the first opportunity rather than risk stoking speculation over their cash and solvency positions. But this could change now given the
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FHI
News
- Federated Hermes, Inc. (NYSE: FHI) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating.MarketBeat
- Month-end portfolio data now available for Federated Hermes Premier Municipal Income FundPR Newswire
- Federated Hermes, Inc. (NYSE: FHI) had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $43.00 to $45.00. They now have a "buy" rating on the stock.MarketBeat
- Federated Hermes Premier Municipal Income Fund declares dividendPR Newswire
- Federated Hermes, Inc. (NYSE: FHI) had its price target raised by analysts at Evercore ISI from $41.00 to $43.00. They now have an "outperform" rating on the stock.MarketBeat
FHI
Earnings
- 10/24/24 - Beat
FHI
Sec Filings
- 11/4/24 - Form 4
- 10/30/24 - Form 4
- 10/11/24 - Form 4
- FHI's page on the SEC website