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) 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%