Swiss microfinance CLO reopens impact securitization market

By Tom Brown
05 Aug 2019

Swiss firm responsAbility Investments has closed a $175m microfinance CLO via JP Morgan, revitalising an industry which last saw issuance before the financial crisis.

The transaction is estimated to be the largest microfinance securitization by dollar amount and scope of the borrower pool, according to publicly available information. It comprises loans made to borrowers in eighteen different countries and securitizes loans to small to medium sized enterprise borrowers in emerging markets, 81% ...

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