Deutsche Bank just announced a bond buyback and now the stock is surging

Deutsche Bank just announced plans for a €3 billion bond buyback.

The stock was up more than 9% following the news.

More to come…

Here’s the press release from Deutsche Bank:

Deutsche Bank (XETRA: DBKGn.DE/NYSE: DB) announces a public tender offer to purchase certain series of EUR and USD-denominated senior unsecured debt securities.

The Bank’s strong liquidity position allows it to repurchase these securities without any corresponding change to its 2016 funding plan.

The EUR tender offer encompasses the following securities and has a target acceptance volume of EUR 3 bn.

ISIN

DE000DB7XHM0

DE000DB7XJB9

DE000DB7XJC7

DE000DB5DCS4

DE000DB7XJP9

The USD tender offer encompasses the following securities and has a target acceptance volume of USD 2 bn.

ISIN

US25152R2U64

US25152R2X04

US25152R2Y86

US25152RVS92

US25152RXA66

US25152RYD96

US25152RWY51

US25152CMN38

The tender offer is expected to be open for seven business days for the EUR denominated securities, and 20 business days for the USD denominated securities, subject to lower pricing for bonds tendered after day 10.

Information is available in the PDF files below and from the following sources:

EUR: Deutsche Bank AG, London Branch (+44 20 7545 8011, [email protected]). Requests for the Offer Documents may be directed to the Tender Agent: Deutsche Bank AG, London Branch (+44 20 7547 5000, [email protected])

USD: Deutsche Bank Securities Inc. at +1 (866) 627-0391 (toll-free) or +1 (212) 250-2955 (collect). Requests for the Offer Documents may be directed to Global Bondholder Services Corporation, which is acting as the Tender Agent and Information Agent for the Offers, at +1 (212) 430-3774 or +1 (866) 470-3700 (toll-free).

Deutsche Bank AG

Taunusanlage 12

60325 Frankfurt am Main

Germany

ISIN: DE0005140008

WKN: 514000

Listed: Regulated market in Berlin-Bremen, Duesseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich und Stuttgart; EUREX; NYSE

The International Securities Identification Numbers (ISINs) of further financial instruments issued by Deutsche Bank AG, and admitted to trading on a domestic organised market or for which such admission has been applied for, are available on Deutsche Bank’s Investor Relations website under https://www.db.com/ir/.

NOW WATCH: Here’s how Shark Tank’s Daymond John beats out the other Sharks to score a deal

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.