Auto spreads steady after RCI Banque deal

Spreads for outstanding French auto ABS were unaffected by RCI Banque’s deal this week as pricing largely met traders’ expectations (see cover story for details). Elsewhere, prime paper on this week’s bid lists was digested, although investor focus continues to shift towards higher yielding opportunities, particularly from Italy.

  • 26 Oct 2012

RCI Banque sold the senior notes in FCT Cars Alliance 2012-1 at 54bp over one month Euribor. This was only 1bp inside price guidance and not tight enough to cause other outstanding French auto ABS bonds to track tighter.

"The pricing made sense to me," one ABS trader ...

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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

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%