Avoiding the potholes

Investors have been jumping on the whole business securitisation juggernaut, a vehicle offering security and better yields. But in recent months, the market’s risks have come to the fore, focusing investors’ minds on potential hazards. Laurence Neville reports


You could say that whole-business securitisations cover life from the pub to the grave. After emerging in the 1990s in the form of pub securitisations, the market has expanded to cover deals as diverse as a funeral company called Dignity.

Whole-business securitisations now appear unstoppable, offering investors greater security and higher yields than corporate bonds and providing issuers with cheap financing.

For many corporate bond managers, not owning whole business securitisation

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

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 individual account here