Weekly Issue Archive
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...
-
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...
-
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...