Commerzbank Seeks Debt Buyback to Increase Capital
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Commerzbank AG, Germany’s second-biggest lender, plans to boost capital by buying back debt as it prepares for new banking regulation.
The lender raised 626 million euros ($833 million) by selling 118 million new shares at 5.30 euros apiece to fund the debt purchase, it said in a statement. Commerzbank will buy back hybrid equity instruments at prices below par in a tender offer managed by Credit Suisse Group AG, the company said.