in debt securities issued in 2013
€ 18.6 billion
Deutsche Bank enjoyed strong support from its debt investors, which allowed the bank to refinance at very attractive spreads. In 2013, Deutsche Bank issued € 18.6 billion at an average spread of 36 bps over the relevant floating index (for example, LIBOR) with an average tenor of 4.4 years. Thereof, € 5.6 billion were benchmark issuances, i.e. meeting certain minimum size requirements, and € 13.1 billion were raised via retail-targeted issuance and other private placements. Deutsche Bank’s issuance activities are well diversified across markets, instruments, currencies and investor type. As at the end of December 2013, in aggregate, 66 % of the bank’s total funding comes from the most stable funding sources, such as retail and transaction banking deposits, capital markets issuance as well as equity.