London, June 22, 2006

Deutsche Bank`s Loan Exposure Management Group issues Landmark Emerging Markets CLO


Deutsche Bank today announced the closure of a USD 500 million emerging markets CLO. This CLO is the first of its kind because it hedges highly illiquid loans on the bank's Loan Exposure Management Group's (LEMG) balance sheet.

CRAFT EM CLO 2006-1 will facilitate new lending by Deutsche Bank to local companies domiciled in emerging markets across the globe. The CLO offers flexibility to hedge assets for six years and LEMG can dynamically manage the geographic mix of the portfolio by including future loan originations by Deutsche Bank.

CRAFT EM was sold to a group of investors who purchased first-loss and mezzanine tranches. By transferring such risk to investors, LEMG achieves credit relief on the assets referenced in the CLO, country limit relief and economic capital relief for the entire portfolio. 

The CLO constitutes the 12th of the CRAFT CLO series, which totals EUR 10 billion in loan hedges. The CRAFT CLO program addresses LEMG's large cap exposures, while the GATE CLO program, consisting of 3 CLOs and EUR 2.7 billion, hedges mid-cap loans, primarily in Germany.

 

For further information, please call:

Deutsche Bank

Stephanie Smart  (44 20) 7545 2908
Press & Media Relations

 


Deutsche Bank

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With Euro 1,035 billion in assets and 64,103 employees, Deutsche Bank offers unparalleled financial services in 73 countries throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

www.db.com




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