ABS Investors Battle Clause Changes

European investors in asset-backed securities are pressing against issuers that include in deal clauses the ability to change terms without consent of the noteholders.

  • 16 Sep 2013

European investors in asset-backed securities are pressing against issuers that include in deal clauses the ability to change terms without consent of the noteholders. The investor committee of the Association for Financial Markets in Europe is said to be working on ways to prevent such changes.

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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 Citi 84,503.31 246 12.96%
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