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