LONDON, July 8 (Reuters) - Deutsche Bank’s capital boosting Additional Tier I debt issues dropped back into the red on Monday, giving away gains made in early trade following news of the German lender’s planned overhaul over the weekend.
Deutsche Bank’s U.S. dollar Additional Tier 1 perpetual bond, callable in November 2021, is now down 0.61 cents on the dollar at 93.70, coming off an earlier high of 94.41 .
Two euro-denominated issues, both callable in May 2027, were also down on the day, reversing early gains.
The cost of insuring exposure to Deutsche Bank’s debt through 5-year credit defaults swaps (CDS) fell by 3 basis points (bps) from Friday’s close to 61 bps, according to data from IHS Markit.
Deutsche Bank CDS have fallen for the sixth straight session. (Reporting by Abhinav Ramnarayan, editing by Karin Strohecker)