Liquidity malaise spreads to super-fit European ABS

The European securitisation market’s brazen confidence finally quailed this week, as investors could no longer ignore the weakness in the wider credit markets and cut back their exposure.

  • 20 Jul 2007

Spreads widened on most European ABS, which have remained robust so far this year, although there has been widening in a few sectors with particular credit or oversupply problems: UK non-conforming residential mortgage backed securities, Spanish RMBS and commercial MBS.

Although the unease in global credit markets this year ...

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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 %
  • Last updated
  • 22 May 2017
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%