Merger In Trouble Following Subprime Losses

  • 08 Aug 2007
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MGIC Investment and Radian Group may fail to merge following losses in a jointly owned subprime-mortgage venture, reports The Wall Street Journal. Each company owns 46% of Credit-Based Asset Servicing & Securitization, or C-Bass, which has suffered losses recently following disruptions in the market. MGIC had agreed to purchase Radian in February for $4.9 billion but said it doesn’t have to complete the deal following troubles at C-Bass. Radian disagreed with MGIC’s view of the situation. “We remain committed to the transaction, and look forward to completing it as promptly as possible,” it stated.

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  • 08 Aug 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) 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 82,406.77 239 12.85%
2 Bank of America Merrill Lynch 71,317.58 219 11.12%
3 Wells Fargo Securities 62,984.09 198 9.82%
4 JPMorgan 45,920.23 145 7.16%
5 Credit Suisse 37,235.50 114 5.81%