Commerzbank is planning to buy back €2 billion of its existing notes for new debt, Bloomberg reports. The bank may sell unsecured 10- year euro-denominated notes, due in 2019. The securities will be exchanged with €1.25 billion of subordinated notes maturing in 2016 and €750 million of debt maturing in 2017. Commerzbank will issue the subordinated bonds to improve its capital structure.

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