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 Share % by Volume
1 Societe Generale 16.10
2 Rabobank 15.11
3 Barclays 9.42
4 Credit Agricole 7.93
5 Morgan Stanley 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%