Weekly Issue Archive »

Issue 966 - 22nd August

  • News Analysis

    • Asset-Backed Finance

      • Värde Partners eyes fund finance as next growth engine in ABF

        Värde ceo Brad Bauer highlights partnerships, value in the middle-market and data-driven risk m...

        Värde Partners is making a strategic push into fund finance, positioning subscription lines for private equity and credit funds as a foundation for the firm’s next phase of growth in asset-backed finance. This move builds on the fi...

    • CLOs

      • Strong demand for EU CLO triple-Bs despite differing post-RP dynamics

        Poh-Heng Tan from CLO Research highlights seasoned EU CLO triple-B tranches trading above par despit...

        This week saw a list of seasoned EU CLO triple-B bonds, all of which received covers well above par, with discount margins in a narrow range of 302–311 bps. This is despite their varying reinvestment end dates. Two bonds have passed their r...

      • EU tightens CLO originator standards

        The EU's clarified originator definition upends established use of conditional sales agreements to s...

        CLO risk retention for manager-originators has become more complicated after the European Commission recently clarified its definition of an originator, with a popular method of achieving compliance now ruled unsatisfactory by European lawmakers. T...

      • Middle market CLOs gain momentum as private credit surpasses $40bn

        Growth in PC/MM CLO issuance and tighter structures fuel optimism despite origination challenges

        Private credit and middle market CLOs (PC/MM CLOs) are beginning to gain traction in Europe after continued momentum in the US. According to data from SCI’s European and US CLO Deal Tracker, the total value of the PC/MM CLO market in 2025 h...

    • Asset-Backed Finance

      • Harley-Davidson transforms finance arm with KKR, PIMCO deal

        Motorcycle maker turns HDFS into capital-light unit in private credit milestone

        Harley-Davidson has recently inked a US$1.25bn deal with KKR and PIMCO  to transform its lending arm, Harley-Davidson Financial Services (HDFS), into a capital-light unit that could set a precedent for how industrial companies monet...

  • SRT Market Update

    • Capital Relief Trades

      • BBB agrees to a new ENABLE Guarantee transaction

        SRT market update

        The state-owned British Business Bank (BBB) has finalised a credit risk transfer with merchant banking group, Close Brothers. The transaction, carried out under the BBB’s ENABLE Guarantee programme, will provide up to £300m of sup...

      • Swedish consumer SRT finalised

        SRT market update

        Avida Finans has executed a synthetic securitisation referencing a SEK2.8bn portfolio of consumer loans.  Settlement and closing of the transaction are estimated on 11 September 2025. Additionally, the transaction is structured as meeting...

  • Talking Point

    • Capital Relief Trades

      • FCA consultation to create tailwind for SRT issuance?

        SRT market update

        On 1 August 2025, the UK Supreme Court overturned a landmark ruling on car finance commissions, stating that car dealers who sold vehicles and arranged the finance did not have a fiduciary duty to their customers. While the Supreme Court's decision i...

  • Market Moves

    • Structured Finance

      • Job swaps weekly: Fifth Third expands ABF group

        People moves and key promotions in securitisation

        This week’s roundup of securitisation job swaps sees Fifth Third expand its asset-backed finance group. Elsewhere, Niam Credit has appointed a new cio in Stockholm, while BAWAG Group has hired a former Alantra executive as European head of...


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