February 03, 2011
Commerzbank again successful on collateralization market - strong investor interest seen as sign of clear economic growth in Germany
● Portfolio placed to the amount of 1 billion euros in SME loans
● Major interest in German economy on the part of European investors
Commerzbank has made a successful return to the market for collateralized debt obligations. It has placed "CoSMO Finance II" a billion-euro portfolio of claims against German SMEs. The positive macroeconomic environment and the excellent business outlook for Germany are reflected in a major resurgence of interest on the part of investors.
"This securitization is a clear sign of the trust placed by European investors in the Mittelstandsbank business of Commerzbank," says Dr. Katrin Stark, head of portfolio management at the Mittelstandsbank.
In comparison to Commerzbank's predecessor transactions in the CoSMO series, the highly granular portfolio was, for the first time ever, not rated by an external ratings agency, but was structured with the aid of the Basel II-conformant, regulatory formula approach and successfully placed with several European investors.
Press contact:
Martin Halusa +49 170 8528638
Bernd Reh +49 170 9143734
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About Commerzbank
Commerzbank is the leading bank for private and corporate clients in Germany. With the segments Private Clients, Mittelstandsbank, Corporates & Markets, Central & Eastern Europe as well as Asset Based Finance, the bank offers itscustomers an attractive product portfolio, and is a strong partner for the export-oriented SME sector in Germany and worldwide. With a total of some 1,200 branches, Commerzbank has the densest network of branches among the German private banks. It has above 60 sites in more than 50 countries and serves approximately 14 million private clients as well as one million business and corporate clients. In 2009 it posted gross revenues of EUR 10.9 billion withsome 63,000 employees.
