Carsted Rosenberg Assists Palmer Square’s Pioneering EUR CLO Senior Debt Index UCITS ETF

Carsted Rosenberg proudly announces its successful role in assisting on the German market admission for the Palmer Square EUR CLO Senior Debt Index UCITS ETF, the first passive Euro-denominated Collateralised Loan Obligation (CLO) Exchange Traded Fund (ETF) in Europe. This landmark ETF, structured as a sub-fund of the Irish collective asset-management vehicle, Palmer Square UCITS ICAV, received authorisation from the Central Bank of Ireland (CBI) on July 14, 2025.   

Carsted Rosenberg was appointed as the German Process Agent (Zustellungsbevollmächtigter) for the ETF, a prerequisite for the Fund's listing and trading on Xetra, the electronic trading platform operated by the Frankfurter Stock Exchange. This appointment ensures continuous legal accessibility for the Fund within the German jurisdiction.   

The Palmer Square ETF is designed exclusively for a sophisticated investor base, targeting exposure to AAA- and AA-rated tranches of the European CLO debt market, in line with the MiFID II target market definition of "Advanced Investors," "Professional Investors," and "Eligible Counterparties".   

The successful market admission underscores effective cross-jurisdictional collaboration across the fund's operational ecosystem. Maples and Calder (Ireland) LLP, acted as lead counsel for Palmer Square on the successful European market entry for the ETF. This coordinated legal arrangement ensures seamless management and response across the German listing requirements, the Irish-domiciled UCITS structure, and the US-based Investment Manager, thereby reinforcing the seamless multi-jurisdictional framework.   

About Carsted Rosenberg

Carsted Rosenberg specialises in providing bespoke legal and regulatory services for capital markets transactions, including German Process Agent services and Foreign Service of Process support, for complex cross-border financial transactions and European market admissions. We are committed to providing the essential legal infrastructure that supports the European expansion of global financial institutions, ensuring due compliance with local regulatory requirements. Carsted Rosenberg provides high-end legal counsel services in connection with large-scale cross-border transactions with a particular focus on the Danish market. Our clients rely on us for pragmatic advice and transactional excellence.

Further Information

If you are considering a bond issuance or other securities offering, contact please contact any of Michael Rosenberg or Andreas Tamasauskas at Carsted Rosenberg to learn how our process agent services in Germany can streamline your capital markets transaction.