Europe

Multilease AG, the finance arm of a Swiss auto importer, is making its first strip to the European securitization market.

Crédit Agricole CIB this week completed a $3 billion transaction that transfers credit risk on the bank’s portfolio of European project finance loans.

As part of its plans to grow its business in the Netherlands, risk and due diligence expert Clayton Euro Risk has announced a strategic alliance with The Dutch Mortgage Consultants.

Barings U.K. is serving as manager for a new collateralized loan obligation warehouse funding structure that will have a target notional value of between €320-€400 million (US$338-$422.8 million), according to a report from bond rating agency DBRS.

U.S. CLO new issue bounced back in February with 15 deals coming to market for a combined total of $8.1 billion, according to Thomson Reuters LPC.

The Prime Collateralised Securities Initiative is aiming to boost synthetic securitization, which offer an alternative way for European banks to free up capital for more lending.

Volkswagen’s U.K. finance arm is marketing £750 million ($884 million) of bonds backed by auto leases.

Kensington Mortgage Co. (KMC) is pooling approximately £343.7 million (US$428.7) in prime-borrower first-lien and “buy-to-let” investor mortgages in the second UK mortgage-backed securitization being marketed this month.

Trading volume of $56.6 billion in the fourth quarter was the second-highest level for the market since the first quarter of 2014. Loan prices selling near or above par also rose last fall.

CVC Credit Partners is marketing what is only the second new European collateralized loan obligation of the year.