Germany’s PBB Eyes SRT Tied to $2 Billion US Portfolio (1)

Deutsche Pfandbriefbank AG is working on a debut significant risk transfer tied to about $2 billion of US commercial real estate loans, according to people familiar with the matter, as the German lender seeks to exit the US market.

The Garching-based bank is being advised by Deutsche Bank AG and Alvarez & Marsal Inc., and is sounding out investors about the potential transaction, the people said, adding that talks are at an early stage so the terms remain subject to those discussions. They declined to be identified as the matter is private.

In June, PBB said it would discontinue ...