Deutsche Bank buyback said to spark backlash


Investors upset: Money managers are planning to hold discussions next week to explore their options on how best to challenge Deutsche Bank. — Reuters

NEW YORK: Investors who scooped up bonds sold by Deutsche Bank AG last month are pushing for better terms in the bank’s US$5.4bil debt buyback plan, saying they were misled because the German lender failed to disclose its true financial position before the sale, according to people with knowledge of the matter.

Some of the bondholders who participated in the US$1.75bil, two-part offering say the bank, which announced a fourth-quarter earnings loss less than two weeks after the sale, should’ve made that disclosure before selling the bonds, the people said, asking not to be identified as the discussions are private.

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Business , deutsche , buyback , backlash

   

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