The Cayman Islands SPV

The role of the Cayman Islands in finance transactions has developed apace with the increased size and sophistication of the world's financial markets. From its beginnings as a centre for finance vehicle subsidiaries, to the growth of bond issues in the late 1970's, the late 1980's saw a huge increase in volume of repackaging transactions with hundreds of billions of dollars of repackaged debt being issued. At about the same time, many Cayman Islands vehicles diversified from the traditional bond issue to establish and issue notes under other types of programmes, which made the issuing of repackaged debt quicker, cheaper and less document intensive.