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Commerzbank raises €5.3bn
COMMERZBANK, Germany’s second largest lender, has raised €5.3bn (£4.7bn) from a rights issue in order to repay state aid.
The transaction, priced at a 45 per cent discount, is part of a series of steps to repay the German government for the cash it injected to support the bank during the financial crisis.
Commerzbank has now raised €11bn to repay the aid. Together with €3.3bn from excess regulatory capital, the lender will have paid €14.3bn towards the €18.2bn it owes the government.