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ARTICLE · 03 NOVEMBER 2023

Getting Closer To CLOs

Carey Olsen
Carey Olsen
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Carey Olsen

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Whilst the underlying detail and even the terminology can be a little bewildering, collateralised loan obligations (CLOs) represent a significant opportunity for Guernsey's financial services sector.

GuernseyCorporate/Commercial Law
Andrew Tually
Andrew Tually
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Whilst the underlying detail and even the terminology can be a little bewildering, collateralised loan obligations (CLOs) represent a significant opportunity for Guernsey's financial services sector.

Historically, the jurisdictions of choice for this US$1.2 trillion market have been the Cayman Islands and Ireland. 

Guernsey offers similar tax, legal and regulatory advantages and should be an attractive alternative, especially since (i) the Cayman Islands were designated by the EU in 2022 as a high-risk country making it harder to market Cayman CLOs to EU investors, (ii) Guernsey offers the same tax neutrality and a light-touch regulatory regime with less "red tape" than its Irish equivalents.

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