Tough market conditions make for mixed results in primary

A difficult market backdrop for issuance led to low coverage ratios and mixed pricing results in the primary market this week. Santander Consumer UK had to offer up a larger premium than it initially intended to get Motor UK auto ABS away, although BNP Paribas Personal Finance was able to price in line with guidance.

  • By Joseph McDevitt
  • 13 Jun 2013
Credit markets were volatile enough this week to keep the European senior unsecured and covered bond markets shut. ABS deals are usually resilient enough to shrug off a rough week in credit markets, but on this occasion the volatility has hit ABS spreads across the board, making tight ...

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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 %
  • Last updated
  • 24 Jul 2017
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%