Coventree To Cut 30% Of Workforce

  • 19 Sep 2007
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Toronto-based Coventree, Canada’s largest issuer of non-bank asset-backed commercial paper, will lay off 30% of its workforce and close an office in Denver, reports Bloomberg News. The company reported having 76 employees on June 30, so the announcement likely means about 25 people will lose their jobs. The cuts follow the company’s inability to find buyers for 73% of the C$4.8 billion ($4.73 billion) in debt that matured during the past month and will cost Coventree about C$1 million ($985,331) in the fourth quarter.

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  • 19 Sep 2007

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) 6,665 23 12.97
2 Citi 5,781 17 11.25
3 BNP Paribas 3,715 15 7.23
4 Barclays 2,853 9 5.55
5 Credit Suisse 2,783 8 5.42

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 99,250.27 279 13.04%
2 Bank of America Merrill Lynch 92,153.61 267 12.10%
3 Wells Fargo Securities 72,661.39 222 9.54%
4 JPMorgan 52,367.24 169 6.88%
5 Credit Suisse 41,885.89 127 5.50%