Non-conforming RMBS returns in Dutch, UK deals

Credit Suisse has closed the first UK non-conforming RMBS of the year, ALBA 2012-1, at a higher discount margin than last year’s ALBA issue. Meanwhile, a rare Dutch non-conforming RMBS was priced tighter than the new ALBA offering in a private placement.

  • 16 Mar 2012

The sole bookrunner priced the £179.7m ‘A’ tranche at 350bp over three month Libor on Wednesday, selling the notes at 95.784. ALBA 2011-RP1 came at a discount margin of 300bp over. This year’s issue boasts better collateral quality, with 92% current loans.

The ‘A’ tranche has credit enhancement ...

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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) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 98,446.48 276 13.35%
2 Bank of America Merrill Lynch 90,174.33 262 12.23%
3 Wells Fargo Securities 70,282.48 216 9.53%
4 JPMorgan 51,967.93 167 7.05%
5 Credit Suisse 41,447.11 125 5.62%