KBRA UK Releases Research — European Securitisation: Market Returns to Pace

LONDON--(BUSINESS WIRE)--KBRA UK (KBRA) releases a research report examining the European securitisation market in Q2 2023.

European securitisation markets have clawed back transaction volumes after a comparatively slow Q1 2023, with volumes in the first-half (1H) almost returning to the pace of prior years. Record attendance at the industry’s annual Global ABS event in June points to a strong level of interest in the sector. Q2 2023 volumes highlighted the strength of this interest, as markets recovered from the lower levels observed in Q1. This KBRA report provides insight into the transactions circulated into the European securitisation market with a focus on those distributed to investors.

Key Takeaways

• Newly circulated transaction volumes have returned to pace, with 1H volumes totalling EUR45.8 billion.
• Auto asset-backed securities (ABS) increased the pace of supply to EUR12.4 billion in transactions sold to investors in 1H, up 49% from 1H 2022. Broadly syndicated loan (BSL) collateralised loan obligations (CLO) continue to steadily print when the market allows, with EUR11.7 billion in 1H 2023 and UK collateral representing 31% of the volume sold to investors.
• Retained transactions have increased significantly with EUR93.2 billion in 1H 2023, which is more than double that in 1H 2022.

Click here to view the report.

Related Publications

• European Securitisation: Sluggish Issuance Continues in 2023
• KBRA’s European Securitisation Survey: Diverging Views
• Global ABS 2023: Day 3 Recap
• Global ABS 2023: Day 2 Recap
• Global ABS 2023: Day 1 Recap
• European Securitisation: Quiet End to 2022
• 2023 European Structured Finance Sector Outlook: Stable Performance to Be Tested
• European Securitisation: Market Slows but Still Active in Q3 2022
• European Securitisation: Slowdown Takes Hold in Q2 2022

About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.