Funding Circle ABS performance drives ratings upgrades

The first securitization of marketplace loans in the European ABS market — Funding Circle's SBOLT 2016-1 — is performing above expectations, said Moody’s on Monday, announcing the upgrade of four tranches of the deal.

  • By David Bell
  • 15 Mar 2017

The Moody’s update said that prepayments on the underlying small and medium enterprise loans have been higher than expected since the deal closed in May last year.

On top of scheduled repayments, the cumulative prepayment rates on the pool were 25%, 17% and 20% in the last three ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 May 2017
1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%