Portugal’s first synthetic securitsation on tap
Banco Comercial Portugues (BCP) and Kreditanstalt für Wiederaufbau (KfW) are bringing to market the first synthetic securitisation transaction in Portugal. A portfolio consisting of Portuguese small and medium-size enterprise (SME) loans will be brought to market through KfW's platform Promise.
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.
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