Downgrade Risk Pushing Spanish RMBS Spreads Even Wider

Secondary spreads for Spanish residential mortgage-backed securities have been pushed even wider by the threat of new downgrades prompted by worsening default rates and falling property prices.

  • 18 Aug 2008
--Alex Sebastian

Secondary spreads for Spanish residential mortgage-backed securities have been pushed even wider by the threat of new downgrades prompted by worsening default rates and falling property prices. According to research from Lehman Brothers, AAA Spanish paper has widened by 25 basis points over LIBOR in the last ...

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GlobalCapital European securitization league table

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1 Societe Generale 13.43
2 Rabobank 12.61
3 Morgan Stanley 10.27
4 Barclays 7.86
5 Natwest Markets (RBS) 7.15

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Rank Lead Manager Amount $m No of issues Share %
  • Last updated
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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%