Iceland Bank Bust Threatens Securitizations

Rating downgrades have started to hit securitizations deals from Iceland’s three major banks after they went bust.

  • 10 Oct 2008

--Cristina Pittelli

Rating downgrades have started to hit securitizations deals from Iceland’s three major banks after they went bust. More downgrades are likely to follow and analysts have warned ongoing turmoil in the Icelandic banking sector could affect performance of the counterparties involved.

The three major banks -- Glitnir, Landsbanki ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 41.30
2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 CITIC Securities 1,560.67 2 10.70%
2 SG Corporate & Investment Banking 1,445.74 4 9.92%
3 Wells Fargo Securities 1,187.61 3 8.15%
4 Rabobank 1,081.86 1 7.42%
5 Bank of America Merrill Lynch 831.08 4 5.70%