H&R Block’s Mortgage Unit Loses Credit Line

  • 06 Jul 2007
Email a colleague
Request a PDF

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 Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 May 2017
1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%