Portugal’s first synthetic securitsation on tap

The underlying portfolio, called Promise Caravela, comprises 7,369 loans to SMEs amounting to €3.5 billion exclusively generated in Portugal. The transaction is arranged by Merrill Lynch International and BCP Investimento.

For the securitisation KfW will initially assume the default risk of the underlying credit portfolio of BCP. Under the leadership of Merrill Lynch and BCP Investimento, the risk will then be placed in the international capital and swap markets.

  • LinkedIn  
  • Save this article
  • Print this page  

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: