FRANKFURT (dpa-AFX) - Commerzbank AG has decided to launch an issuance programme for additional tier 1 capital that will enable the Bank to gradually issue subordinated bonds with a total nominal value of up to 3 billion euros. It will make a decision on the timing of the first issuance at a later date.
Bettina Orlopp, Chief Financial Officer of Commerzbank said the additional tier 1 capital programme will enable the bank to further optimise capital structure and also 'respond to the additional business opportunities that have arisen for us in the context of the coronavirus crisis and the changed regulatory requirements.'
In July 2019, Commerzbank issued its first additional tier 1 bond with a volume of 1 billion US dollars. At the end of March 2020, the common equity tier 1 ratio stood at 13.2 percent and therefore exceeds all regulatory requirements.
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