IKB and KfW close EUR 2.4 billion transaction via the PROMISE securitisation platform

Frankfurt (ots) - IKB Deutsche Industriebank AG and KfW
Bankengruppe yesterday closed the PROMISE-I Mobility 2006-1
transaction, securitising EUR 2.4 billion in loans to medium-sized
enterprises. The exposure was securitised synthetically, allowing IKB
to maintain the loans on its books and to continue the related
business relationships with its clients.

PROMISE-I Mobility 2006-1 is the sixth transaction jointly
concluded by IKB and KfW: IKB thus continues to pursue its strategy
of actively managing its credit portfolio, comprising an attractive
mix of existing exposures and new business. The relief on regulatory
and economic equity provided by the securitisation provides IKB with
additional scope for new loans to medium-sized businesses.

The PROMISE-I Mobility 2006-1 portfolio comprises 946 individual
loans to 614 medium-sized enterprises, with a maximum term of 8
years. In a synthetic securitisation, KfW assumes the default risk
exposure of IKB's underlying credit portfolio, subsequently placing
the risk on the capital market.

The transaction was arranged by Deutsche Bank AG, who lead-manages
the placement in the international capital and swaps markets. The
Credit-Linked Notes (CLNs) issued on the capital market in connection
with the securitisation were rated by Moody's and Fitch. The
transaction was priced on 24 November 2006.

** The complete Press Releas you find on our homepage:
http://www.kfw.de/EN_Home/Presse/press_live.jsp

Being the first joint IKB/KfW securitisation transaction using a
German special purpose entity as the CLN issuer, PROMISE-I Mobility
2006-1 also strengthens the German financial marketplace.

IKB and KfW had used the PROMISE platform to place IKB's first
portfolio of exposures to medium-sized businesses at the end of 2000:
In the meantime, IKB has placed an aggregate nominal volume of EUR
11.8 billion through securitisation platforms managed by KfW.

With this transaction KfW concludes this year's activities in the
area of securitisation of SME loans. The total volume of transactions
launched in 2006 to securitise risks from SME loans amounts to
approximately EUR 10 billion. This is the highest annual figure
recorded since the securitisation platform was set up in 2000.

IKB Deutsche Industriebank AG is the leading specialist bank for
long-term corporate financing in Germany. Its target clients are
innovative, high-growth, medium-sized companies, commercial real
estate investors, as well as foreign companies and project partners.
With total assets of around EUR 50 billion, and 1,700 staff at 12
domestic and international offices, the bank itself is a medium-sized
enterprise. IKB shares (ISIN: DE 0008063306) are listed in the MDAX,
the German mid-cap index. Holding a 38% stake, KfW Banking Group is
IKB's largest shareholder; the two banking groups are joined in a
strategic partnership.

KfW Bankengruppe is a source of impetus for the economy, politics
and society worldwide. One of KfW's key tasks is to support
medium-sized and start-up businesses through long-term loans at
attractive interest rates. KfW also sponsors innovative business
concepts, the venture capital market, environmental projects, and
municipal infrastructure projects. KfW's securitisation platforms
offer banks the opportunity to securitise credit risk exposure via a
highly standardised structure - providing them with new scope for
lending business through the associated relief on equity. KfW's
securitisation platforms for loans to medium-sized businesses
(PROMISE) and housing construction loans (PROVIDE) were established
in 2000 and 2001, respectively. KfW Bankengruppe is not limited to
financing investment in Germany: the bank is also active in export
and project finance, supports developing countries, and offers
advisory and other services.

Originaltext: KfW
digital press kits: http://presseportal.de/story.htx?firmaid=41193
press kits via RSS: feed://presseportal.de/rss/pm_41193.rss2

For further information please call:
IKB: Dr. Jörg Chittka;
Phone: +49 211 8221-4349; Fax: +49 211 8221-2349; E-Mail:
joerg.chittka@ikb.de; www.ikb.de

KfW Bankengruppe: Nathalie Drücke;
Phone: +49 69 7431-2098; Fax: +49 69 7431-3266; E-Mail:
nathalie.druecke@kfw.de; www.kfw.de

KfW, Palmengartenstraße 5-9, 60325 Frankfurt
Kommunikation
Tel. 069 7431-4400, Fax: 069 7431-3266,
E-Mail: presse@kfw.de, Internet: www.kfw.de


	hier anmelden...