Longer lead-ins to drag on pace of euro CLO issuance

The pipeline of new European collateralised loan obligations is building, but a lack of investors at the top of the capital structure and a scarcity of assets will drag on the pace of issuance, said market participants.

  • By Joseph McDevitt
  • 04 Oct 2013

It can take several months to market and price a European CLO. Investors favour strongly ramped up deals — with 70% seen as the ideal level, according to one London-based CLO specialist — while sustained challenges such as difficulties with 122a risk retention compliance remain.

Despite this, 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) 3,319 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%