International SF Weekly: Data Addendum: Primary supply accelerates

Research evidence excerpt

International SF Weekly: Data Addendum: Primary supply accelerates

Accessible version

International SF Weekly

Data Addendum: Primary supply

accelerates

The market is surging: issuers are taking advantage of the window of opportunity to 11 May 2026

issue (unsure how long it will last) and investors are ready to put some cash to work Structured Finance

(unwilling to miss the opportunity but looking over their shoulder). It is becoming now EMEA, APAC, LatAm

normal to talk about another record issuance week: EUR corporates recorded a strong ABS CMBS RMBS CLO

week of supply of €26.75bn (3rd highest week of the year), o/w more than half was

Reverse Yankies (€14.65), o/w €9bn was Alphabet (4th largest corporate deal in Euro). AlexanderInt'l Str. Fin.Batchvarov,Strategist CFA

BofA Europe (Zurich)

The SF market was equally active: we counted 18 deals publicly announced in the +41 44 297 7469

alexander.batchvarov@bofa.com

making, of which 8 priced. The diversity of assets on primary was rather unusual as

almost all asset classes are represented; the number of jurisdictions is also unusually AltynayInt'l MBS/Davletova,ABS StrategistCFA

high. In contrast, the secondary consisted nearly entirely of EUR CLOs and UK NC RMBS. MLI (UK)

+44 20 7995 3968

altynay.davletova@bofa.com

Primary: ABS/RMBS recovery continues Mark Nichol

The primary market for EU/UK RMBS and ABS shows more signs of recovery. An IRL Int'l CMBS/ABS Strategist

MLI (UK)

RPL RMBS was preplaced and four auto ABS priced. In the pipeline: a UK equity release +44 20 7996 0965

RMBS and two consumer ABS along with two auto ABS. Euro CLO repeated the activity mark.nichol@bofa.com

of previous week: 2 new issue deals, 1 reset, 1 refi and 1 initially retained single-B Dustin Walpert, CFA

European CLO Strategist