Locafit prices finely but bonds slump in secondary market

  • 01 Jul 2005

Banca Nazionale del Lavoro subsidiary Locafit this week returned to market with a finely priced, if unexpectedly controversial securitisation of auto, equipment and real estate leases, arranged by BNL.

Bookrunners BNL, Calyon, JP Morgan and SG priced the senior tranche at just 15bp over Euribor ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

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3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%