ABS Issuer Reluctance Remains Despite Tightening Spreads

Spreads in the European asset-backed securities market are tightening, but not enough to entice banks into new issuance.

  • 01 Oct 2007

—Hugh Leask

Spreads in the European asset-backed securities market are tightening, but not enough to entice banks into new issuance. Chander Gupta, an ABS trader at The Royal Bank of Scotland in London, said spreads for AAA tranches of U.K. ABS from first-tier issuers are around 35 basis points. ...

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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) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 99,251.11 279 13.17%
2 Bank of America Merrill Lynch 90,895.27 265 12.06%
3 Wells Fargo Securities 72,661.39 222 9.64%
4 JPMorgan 52,367.24 169 6.95%
5 Credit Suisse 41,885.89 127 5.56%