KBRA Releases Research – European Securitisation: Shifting Funding Strategies
7 Feb 2025 | London
KBRA releases research on the issuance dynamics of the European securitisation market. Although total European securitised volumes increased a modest 5% year-over-year (YoY) in 2024, the mix between the volume sold to investors versus the amount retained by issuers shifted dramatically compared to previous years. The amount of new issue paper sold climbed 43% YoY to a post-global financial crisis (GFC) record high of EUR152.1 billion, while the amount retained by issuers fell 47% YoY to a post-GFC record low of EUR73.7 billion. Meanwhile, transaction volumes were up across a number of sectors, including broadly syndicated loan (BSL) collateralised loan obligations (CLO), residential mortgage-backed securities (RMBS), and consumer asset-backed securities (ABS) transactions.
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