AFME Securitisation Data Report, Second Quarter 2017

In Q2 2017, EUR 71.6 billion of securitised product was issued in Europe, an increase of 91.2% from Q1 2017 but a decline of 4.9% from Q2 2016. Of the EUR 71.6 billion issued, EUR 38.6 billion was placed, representing 54.0% of issuance, compared to the 44.0% of issuance in Q1 2017 and the 39.3% of issuance in Q2 2016.

CLO refinancing (“refis”) activity continued at a robust pace in the second quarter of 2017. Refis were concentrated on the 2014 and 2015 vintages in the second quarter. For the second quarter of 2017, UK RMBS led placed totals (EUR 17.3 billion), followed by PanEuropean CLO (EUR 13.2 billion) and German auto (EUR 2.7 billion).

Outstanding volumes were essentially unchanged from the prior quarter at EUR 1.24 trillion outstanding at the end of Q2 2017. Of this, approximately EUR 714.6 billion, or 57.4%, was retained.