Deutsche Telekom's first foray into asset-backed securities (ABS), due in 2002, will be launched into a market that has boomed during the first nine months of 2001.

Deutsche Telekom named ABN Amro and Dresdner Kleinwort Wasserstein to structure and manage the deal. The deal size will be €2bn-2.5bn ($1.8bn-2.25bn) and the issue will be launched early next year. The underwriters will provide bridge financing for Deutsche Telekom over year-end, according to sources close to the deal.