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Deutsche Bank successfully completed the securitization of risks from loans to mid-cap companies within the framework of its GATE 2006-1 transaction. Using credit-linked notes with a 10-year maturity, € 185 million was placed with European and Asian institutional investors. A loan portfolio containing 2,343 loans totalling € 2.1 billion formed the basis for this securitization transaction. For the first time, these loans also included current account credit facilities. Credit default swaps formed the remaining difference of € 1.9 billion.
This was the fourth synthetic securitization transaction, one part of a series which Deutsche Bank has used to securitize credit risks from mid-cap company loans since 2004. As a result, the bank not only creates capacity for additional new business with its mid-cap corporate clients, but also uses the market price determined through the transaction to check its market-based pricing of new loans. Additional securitization transactions of mid-cap company loans are planned.
Additional information is available from:
Deutsche Bank Press Department
Dr. Kirsten Siersleben
Phone: +49 (0)69 910 38079
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 1,097 billion in assets and 67,474 employees in 73 countries, Deutsche Bank offers unparalleled financial services 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.