Natixis tests appetite for new legacy UK non-conforming RMBS

In a sign that risk appetite in the ABS market continues to grow as investors face falling yields in core and prime sectors, Natixis is looking to price the year’s first true-sale securitisation of UK non-conforming mortgages.

  • 15 Apr 2013
Virgil Mortgage No1 is a multi-originator UK RMBS backed by a pool of pre-crisis, non-conforming mortgages for owner-occupied and buy-to-let properties. It uses a simple two tranche structure, with a £70.7m class ‘A’ tranche, which has been rated AA by Standard & Poor’s, and an unrated £53m class ...

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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) 3,136 9 13.58
2 Citi 2,562 6 11.09
3 Goldman Sachs 2,150 3 9.31
4 Credit Suisse 1,822 6 7.89
5 Societe Generale 1,814 4 7.86

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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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%