S&P: Slow August for Europe Securitizations

Register now

Standard & Poor’s reported today that August securitization issuance slowed to $1.4 billion ($1.87 billion).

Investor-placed securitization issuance was €1.4billion from 4 deals, compared with €6 billion in July 2013. Three arbitrage CLOs priced, and Unicredit privately placed the senior tranche in CLO Large Corporate One, a balance sheet deal, according to S&P.

So far, year-to-date investor-placements total €37 billion, down 15% from figures reported this time last year.

S&P attributed the snail’s pace issuance to the traditional summer slowdown that ebbs securitization issuance in Europe during the month of August.

For reprint and licensing requests for this article, click here.