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Commerzbank celebrates securitisation success

Commerzbank is celebrating its latest success in the securitisation market, saying that with CoCo Finance II-1 it successfully placed mezzanine capital risks amounting to some €120 million of accounts receivable from European mid and large-caps.

The synthetic transaction has been achieved 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 programmes,” says Birgit Storz, head of strategy at the bank’s corporates unit.

One further detail from Commerzbank – this latest 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.

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