Unite £380m student halls ABS prices tight

Unite Group, the UK student accommodation provider, launched its fifth debt capital markets transaction on Thursday, raising a £380m secured bond to refinance a securitisation, sold in December 2006.

  • 07 Jun 2013

Despite the rough markets of recent days, the transaction, dubbed a commercial mortgage-backed security by the rating agencies, found strong support from investors, enabling lead managers HSBC and Lloyds to price the single 10 year tranche tightly and give zero allocations to all but UK real money investors.

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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) 6,665 23 12.97
2 Citi 5,781 17 11.25
3 BNP Paribas 3,715 15 7.23
4 Barclays 2,853 9 5.55
5 Credit Suisse 2,783 8 5.42

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 99,250.27 279 13.13%
2 Bank of America Merrill Lynch 91,648.43 266 12.13%
3 Wells Fargo Securities 72,661.39 222 9.61%
4 JPMorgan 52,367.24 169 6.93%
5 Credit Suisse 41,885.89 127 5.54%