Permanent TSB finds high take up in Fastnet RMBS buyback

Irish bank Permanent TSB met a take-up rate of more than 50% in its buyback of Fastnet Securities 2 RMBS, a sharp contrast to the low participation rates seen in most other cash tenders on European asset backed securities.

  • 15 Oct 2012
The borrower bought back €644m of the notes through a modified Dutch auction. Investors tendered €749m of bonds in total across the four tranches, amounting to a participation rate of more than 50%. That is much higher than most other European ABS buybacks, which typically attract lower participation ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

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