BCA starts its A&E engine, but road to tight prices gets bumpy

British Car Auctions, the UK’s used vehicle sales company, is about to launch additional loan facilities, as well as amending and extending its existing debt.

  • By Olivier Holmey
  • 26 Jun 2013

The launch comes amid signs that market volatility is hitting the levloan market, as pricing on Armacell's cov-lite cross-border deal was flexed by about 100bp (see separate story). 

Some market participants, however, are underplaying the importance of that flex for upcoming deals, including BCA’s.

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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

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1 Bank of America Merrill Lynch 57,210.26 177 12.39%
2 Citi 56,957.04 171 12.34%
3 Wells Fargo Securities 47,551.45 149 10.30%
4 JPMorgan 32,965.91 111 7.14%
5 Credit Suisse 23,990.96 75 5.20%