In show of financial strength, Deutsche Bank buys back debt
{{#rendered}} {{/rendered}}Germany's Deutsche Bank is offering to buy back billions of its own bonds in a show of financial strength after markets sold off its stock.
The Frankfurt-based bank, Germany's biggest, said it would offer to repurchase 3 billion euros ($3.4 billion) in euro bonds and $2 billion in dollar bonds. The bank said in a news release it had the resources to make the purchases without changing its funding plans.
Investors had sold off Deutsche Bank stock after it reported a yearly loss of 6.8 billion euros on Jan. 28. The slide continued after concerns arose about whether the bank could make payments on complex financial instruments due April 30.
{{#rendered}} {{/rendered}}Deutsche Bank co-CEO John Cryan has said the bank's finances are "rock-solid."
Shares were up 7.7 percent on Friday.