Portuguese NPL deal set, but past missteps could dent demand

The first Portuguese non-performing loan (NPL) securitization is set to hit the market in the autumn, but some buyers say the deal could be a tough sell given the recent history of Portuguese banks.

  • By Sam Kerr
  • 31 Aug 2017

The deal is being issued by Caixa Económica Montepio Geral, the bank holding company of Montepio, which has mandated JP Morgan to arrange the sale.

The securitization is still in its early stages, but sources say it will comprise a mixed portfolio of secured and unsecured loans at ...

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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) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 108,190.43 309 12.88%
2 Bank of America Merrill Lynch 95,782.14 279 11.40%
3 Wells Fargo Securities 80,847.28 245 9.63%
4 JPMorgan 58,524.24 184 6.97%
5 Credit Suisse 43,977.05 134 5.24%