CLO deals to continue but smaller managers shut out

Securitization experts predict no let-up in this year’s resurgence of European collateralized loan obligations after the summer, but they reckon the market could become dominated by big players. The outlook is bleaker for smaller, thinly-capitalised managers who are struggling to get to grips with the European Banking Authority’s risk retention amendments, writes Hugh Leask.

  • By Joseph McDevitt
  • 01 Aug 2013
July was the busiest month this year for the re-emergent asset class, with three CLOs pricing — Intermediate Capital Group’s St Pauls II CLO, Ares Management’s Ares European CLO VI, and Credit Suisse Asset Management’s Cadogan Square CLO V — altogether totalling about €1bn. Since Cairn Capital kickstarted ...

Please take a trial or subscribe to access this content.

Contact Mark Goodes to discuss your access: mark.goodes@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 41.30
2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 SG Corporate & Investment Banking 1,260.06 2 126,006,164,037.19%
2 Rabobank 1,081.86 1 108,185,922,974.77%
3 Wells Fargo Securities 430.57 1 43,057,020,785.00%
4 SK Securities 192.86 1 19,286,162,593.99%
4 Meritz Financial Group Inc 192.86 1 19,286,162,593.99%