August 14, 2012
Commerzbank again successful on the securitisation market
● Portfolio totalling some EUR 120 million in mezzanine risks placed
Commerzbank continues its successful activities on the securitisation market. With CoCo Finance II-1 it successfully placed mezzanine capital risks amounting to some EUR 120 million of a portfolio of EUR 2 billion comprising accounts receivable from European mid and large caps. Thus the relevant securitisation tranche could be placed in full. The synthetic transaction is without transfer of the securitised accounts receivable or naming of the relevant borrowers.
"In an uncertain market environment investors have shown their trust in the competence of Commerzbank and in the continuity of its securitisation programs," says Birgit Storz, head of the Strategy unit in the Corporates segment of Commerzbank.
As with the CoSMO securitisation series the granular portfolio for the most recent transaction was not assessed by an external ratings agency, but structured and later issued with the aid of the Basel III compliant, regulatory formula approach.
Press contact:
Martin Halusa +49 69 136-85331
Bernd Reh +49 69 136-46971
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About Commerzbank
Commerzbank is a leading bank for private and corporate customers in Germany. With the segments Private Customers, Mittelstandsbank, Corporates & Markets, Central & Eastern Europe as well as Asset Based Finance, the Bank offers its customers an attractive product portfolio, and is a strong partner for the export-oriented SME sector in Germany and worldwide. With a future total of some 1,200 branches, Commerzbank has one of the densest networks of branches among German private banks. It has around 60 sites in 52 countries and serves almost 15 million private clients as well as 1 million business and corporate clients worldwide. In 2011, it posted gross revenues of almost EUR 10 billion with 58,160 employees.
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Disclaimer
This release contains statements concerning the expected future business of Commerzbank, efficiency gains and expected synergies, expected growth prospects and other opportunities for an increase in value of the company as well as expected future net income per share, restructuring costs and other financial developments and information. These forward-looking statements are based on management's current expectations, estimates and projections. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from any future results and developments expressed or implied by such forward-looking statements. Commerzbank has no obligation to periodically update or release any revisions to the forward-looking statements contained in this release to reflect events or circumstances after the date of this release.
