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) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 82,406.77 239 12.85%
2 Bank of America Merrill Lynch 71,317.58 219 11.12%
3 Wells Fargo Securities 62,984.09 198 9.82%
4 JPMorgan 45,920.23 145 7.16%
5 Credit Suisse 37,235.50 114 5.81%