“The cooperation includes newly originated credit,” the companies said in an e-mailed statement today. The deal will allow Axa to invest into Commerzbank’s syndicated loans and other “selected” corporate lending in the three European countries, they said.
Axa, based in Paris, said in the statement that it’s seeking to expand investments in mid-sized corporate loans outside its home market. The insurer last year teamed up with French banks Societe Generale SA (GLE) and Credit Agricole SA (ACA) to provide loans to companies.
Commerzbank, based in Frankfurt, is Germany’s second-largest bank by market value.
To contact the reporter on this story: Fabio Benedetti-Valentini in Paris at email@example.com