With the U.S. Justice Department imposing an unprecedented fine of up to $14 billion on Germany’s largest lender, Deutsche Bank is looking at its options on how to fund this fight.
Bloomberg has reported Deutsche Bank AG is in informal talks with securities firms so as to explore its options, including that of raising further capital, in case legal bills pile up.
Citing sources familiar with the discussion at hand Bloomberg has reported that senior advisers at top Wall Street firms are sharing ideas with Deutsche Bank representatives which include the disposal of assets and sale of shares.
They are also offering to underwrite a stock sale for around $5.6 billion euros (5 billion euros), the limit after which Deutsche Bank will need shareholder’s approval.
Deutsche Bank also has the option to go to shareholders for requesting approval of more funds.
Deutsche Bank’s spokeswoman in New York declined to comment.
The U.S. Department of Justice is probing Deutsche Bank’s residential mortgage-backed securities going back to the 2008 financial crisis. Deutsche Bank is fighting a hefty fine of up to $14 billion imposed by the U.S. Department of Justice.
Earlier yesterday, German newspaper Handelsblatt has reported, the CEO of several blue-chip German companies have said that they are ready to offer a capital injunction in the country’s largest lender to shore up its defenses.
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