Deutsche Bank and Goldman Sachs are leading a combined €2bn ($2.4bn) exchangeable bond and equity sale from Kreditanstalt für Wiederaufbau (KfW) the German state-owned development bank which returns Deutsche to the top of the European equity-linked rankings.
On Monday JP Morgan overtook Deutsche Bank to become number one in the European equity-linked rankings when it led a Sfr1.5bn (€970m) exchangeable bond from the Swiss government with UBS.