Commerzbank plans ABS of its loan exposure.(asset backed securities)(Brief Article)

Commerzbank plans to securitize 5 billion ($5.9 billion) of its loan exposure as part of its new credit recycling program.

The issue is expected to come to market in the second quarter.

But contrary to previous market reports, the securitization program does not represent one-third of the loans the bank holds on its books. Christopher McMullen, head of the securitization team at Commerzbank, said the amount only represented a small portion of the bank's multinational book.

McMullen added that the securitization team had a few other deals planned for a near-term launch.

Following the departure of several members of its securitization team, …