Restructuring spree, even as defaults slow

Europe’s speculative grade companies remain vulnerable to refinancing risks and many will need to find new shareholders to repay debt, Standard & Poor’s said in a report this week.

  • 16 Apr 2010

The warning came even as S&P said that it expects the 12-month default rate among junk-rated borrowers to continue falling after shrinking from a record high of 14.2% at the end of September to 12.8% by the end of 2009.

"The figure [12.8%] is in line with expectations," Paul ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 13.43
2 Rabobank 12.61
3 Morgan Stanley 10.27
4 Barclays 7.86
5 Natwest Markets (RBS) 7.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 18,561.02 56 11.69%
2 Wells Fargo Securities 18,160.90 57 11.44%
3 JPMorgan 12,092.45 38 7.62%
4 Citi 11,878.92 43 7.48%
5 Credit Suisse 9,276.87 26 5.84%