Ford Continues To Tighten Despite Earnings

Ford Motor Co.'s loan-only credit default swaps continued to tighten last week even after it reported a fourth quarter loss of $5.67 billion and a year loss of $12.7 billion, the worst in the company's history.

  • 26 Jan 2007
Email a colleague
Request a PDF

Ford Motor Co.'s loan-only credit default swaps continued to tighten last week even after it reported a fourth quarter loss of $5.67 billion and a year loss of $12.7 billion, the worst in the company's history. The LCDS tightened about 10 to 12 basis points on Thursday to the low 170s, mostly on the back of unsecured CDS tightening 20 basis points, a dealer said.

It was trading in the low 180s last Wednesday, with a lot of retail and inter-dealer activity. "This has become far and away the most active LCDS name," one trader said. "So on busy days, it gets really busy."

The LCDS just continues to creep higher. It was trading around 185-195 a week ago (CIN, 1/22) and was trading around 232-237 following the break (12/18).

Its $7 billion term loan "B" was trading around 101.384-101.670 last Wednesday, according to Markit. It had been trading around 101.075-101.400 a week before (1/22). A spokeswoman declined comment.

  • 26 Jan 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
  • 24 Jul 2017
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%