Fitzroy 2018-1 CLO: 05 October 2018
The transaction is structured as a synthetic CLO securitisation with risk transfer achieved via the purchase of credit protection on the most junior tranches on a funded basis. The reference assets are a £1.12bln portfolio of project finance loans originated by Santander and located mainly in UK.
This will be Santander’s second synthetic project finance transaction in two years, following on from the Renew Project Finance CLO 2017-1 deal.
The transaction is listed on the Cayman Islands Stock Exchange