With the labelling of Turbo Finance 5, PCS has broken the €100bn barrier of labeled securitisations. PCS wishes to thank the issuer and investor community for the trust and support they have demonstrated for our quality initiative since its launch in 2012 as symbolised by this milestone.
In a market that remains very weak, PCS has now labeled 67 transactions. This represents 20% of the entire stock of placed and outstanding European transactions (including transactions that were issued prior to the existence of PCS and those that are not technically eligible for the label) and 25% of the entire stock of primae facie eligible outstanding transactions placed with investors. As the label is available for senior tranches only, the label has now been assigned to €100.1bn of senior tranches representing €112.5bn of transactions.