Rake: Banks Years Away from Making Shareholder Returns

Bloomberg Video

October 12 -- Less than a week after raising $3 billion in a private debt sale, Deutsche Bank AG returned for another $1.5 billion, offering yields that were more than twice what it paid to borrow a year ago. The German lender issued the debt to mostly the same investors who bought last week’s offering, according to a person with knowledge of the matter. But it paid a slightly smaller premium this time around, with the deal priced at 290 basis points above borrowing benchmarks, said the person, who asked not to be identified because the information isn’t public. BT Group and Worldplay Group Chairman Michael Rake discusses the German lender and the outlook for banks in the City of London follow the Brexit vote with Anna Edwards and Manus Cranny on "Bloomberg Daybreak: Europe."