Picking up fuel and adding names to the pipeline, the Euro securitization market is showing no signs of slowing down. Meanwhile, investment banks are hiring in the sector, according to industry reports. The reports attribute the activity to improving securitization legislation among continental European countries.
In the market last week, Punch Tavern dominated headlines as it revealed its refinancing proposal for its existing securitizations. The pub operating company is looking to merge its transactions under a singular structure that will also include pubs previously funded through short-dated bank debt, pooling together 4,300 pubs. The transaction is expected to free up to GBP250 million (US$398 million) of cash.