Deutsche Bank completes trades in new benchmarks
(WorldNews Germany)

Deutsche Bank has completed a number of trades in the past week linked to new benchmark risk-free rates such as SOFR, EURSTR and SONIA. This is part of an active engagement to support industry-wide initiatives to replace interbank offered rate (IBOR) benchmarks such as the London Inter-Bank Offered Rate (LIBOR) with new benchmarks. On November 21, Deutsche Bank announced the issuance of a 1.5 billion US dollar fixed-to-floating rate Senior Non-Preferred (SNP) transaction linked to the Secured Overnight Financing Rate (SOFR). This was Deutsche Bank`s inaugural callable SNP bond. Furthermore, the SOFR-based coupon in the final year is designed to help the market transition away...