H&R Block’s Mortgage Unit Loses Credit Line

  • 06 Jul 2007
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H&R Block said the subprime mortgage unit it is selling has lost a credit line, lowering its borrowing capacity closer to the minimum needed for the sale to go through, reports Reuters. In a filing with the Securities and Exchange Commission, the company said Lehman Brothers did not renew a “warehouse” facility with the subprime unit, Option One Mortgage, after it expired June 28. The facility provided at least $1 billion of borrowing capacity, according to Reuters.

Cerberus Capital Management, the private equity firm that agreed in April to buy Option One, required the unit to maintain at least $8 billion of warehouse capacity through the closing date, expected in October. Separately, Bank of America agreed to boost its ware house credit facility to $2.25 billion from $2 billion until the sale of Option One is completed.

Click here to read the article from Reuters

  • 06 Jul 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 16.10
2 Rabobank 15.11
3 Barclays 9.42
4 Credit Agricole 7.93
5 Morgan Stanley 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%