Exeter prices auto ABS, as subprime concerns loom

Subprime auto issuer Exeter Finance priced EART 2017-2 on Wednesday, its second subprime auto ABS of the year, hitting the market at a time of growing concern over declining vehicle prices and rising borrower delinquencies in the sector.

  • By Sasha Padbidri
  • 17 Apr 2017

The negative headlines around the US auto market have hit ABS investor demand in recent weeks, according to Wells Fargo analysts. GM Financial, Ally Financial and Ford Motors all announced earlier this month that used vehicle prices are expected to decline this year.

“The barrage of headlines in the ...

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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) 3,136 9 15.66
2 Goldman Sachs 2,150 3 10.73
3 Citi 2,118 5 10.57
4 Societe Generale 1,506 3 7.52
5 Rabobank 1,413 2 7.06

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Apr 2017
1 Citi 38,486.16 95 14.84%
2 Bank of America Merrill Lynch 35,181.47 86 13.56%
3 Wells Fargo Securities 24,415.38 74 9.41%
4 JPMorgan 17,158.72 50 6.62%
5 Goldman Sachs 13,413.44 31 5.17%