European Securitization Of The Year

Permanent Master Issuer 2008-2

  • 06 Oct 2008
Email a colleague
Request a PDF

Permanent Master Issuer2008-2

 

 Robert Plehn

HBOS’ £500 million ($730 million) deal was lauded by industry participants across the market for being the first residential mortgage-backed securitization placed entirely with third-party investors since the credit crisis began. Until then, issuers had been tapping the European Central Bank’s repurchase agreement facility for funding as investors had fled. “It gave the market a small sign of hope,” said one London-based securitization lawyer.

The deal comprised a single AAA tranche backed by prime U.K. mortgages originated by HBOS. The bonds were placed with a small group of banks and insurance companies. Robert Plehn, head of securitization and covered bonds at HBOS, led the effort at the bank, while Jason Mann and Andrew Dennis led the syndication teams at joint lead managers Citi and UBS,respectively.



  • 06 Oct 2008

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) 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

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 74,266.46 209 13.33%
2 Bank of America Merrill Lynch 64,298.92 202 11.54%
3 Wells Fargo Securities 55,583.74 178 9.98%
4 JPMorgan 40,447.01 140 7.26%
5 Credit Suisse 30,239.23 97 5.43%