Top stories

  • Issuers look to rekindle US interest for sterling ABS revival

    Before the Bank of England’s easy money schemes, UK issuers were reliant upon a deeper base of US buyers to get deals over the line. With the end in sight for the BoE’s Term Funding Scheme (TFS), sellers are looking to restore the link between the US and the UK markets to support sterling issuance.

    • 21 Sep 2017

  • Mattel loosens debt covenants after Toys ‘R’ Us bankruptcy

    Toymaker Mattel has loosened the terms of its revolving credit facility for the second time this year after key buyer Toys ‘R’ Us filed for chapter 11 bankruptcy on Monday.

    • 21 Sep 2017
  • Cross River taps Schumer staffer for policy gig

    Cross River Bank has tapped Phil Goldfeder, a former staff member with New York Senator Charles Schumer, to lead its government affairs team.

    • 21 Sep 2017
  • Ford euro auto deal keeps spreads tight

    Ford sold its latest German auto ABS transaction this week, as spreads on European paper continue to hover at post-crisis tights.

    • 21 Sep 2017
  • Investors count cost of Toys ‘R’ Us bankruptcy

    A hastily arranged bankruptcy financing for Toys ‘R’ Us has left investors analysts scrambling to understand the impact on the company’s corporate and real estate debt.

    • 20 Sep 2017
  • Neuberger Berman closes $1.1bn PE debt fund

    New York investment manager Neuberger Berman has closed a new $1.1bn fund that will target the secured and unsecured debt of private-equity backed US companies.

    • 20 Sep 2017
  • Scotiabank eyes US buyers with new auto deal

    Scotiabank is looking to woo US investors with a dollar denominated auto loan securitization, as demand for Canadian cross border ABS heats up and pricing lures Canadian banks to the market.

    • 20 Sep 2017
  • US buyers clamour for Virgin RMBS

    Virgin Money’s first prime UK RMBS deal of the year was well received by domestic buyers, but demand was particularly healthy in the US, with the dollar tranche of the deal heavily oversubscribed.

    • 20 Sep 2017
  • Watch middle market heat, warns Cerberus MD

    Speakers at ABS East in Miami on Tuesday highlighted the heat in middle market lending, as new funds chase yield in the sector with increasingly aggressive deal terms and financing methods.

    • 19 Sep 2017
  • Alternative data could reshape SLABS landscape

    New and alternative sources of data beyond FICO and other traditional credit scoring metrics have the potential to dramatically alter the landscape for student loan ABS, according to speakers on day three of ABS East.

    • 19 Sep 2017
  • EBA proposes securitization risk transfer reform

    The European Banking Authority has published a discussion paper looking to harmonise the supervision of risk transfer in securitization across the EU.

    • 19 Sep 2017
  • BAML argues for ABSPP continuation

    Analysts at Bank of America Merrill Lynch have argued the European Central Bank keep its asset backed purchase programme running in 2018 — a contrarian position given the market consensus that it is likely to end this year.

    • 19 Sep 2017
  • Primary euro CLO market restarts

    Investors were finally offered a crack at new European CLOs this week, with offerings priced from Tikehau Capital and Accunia.

    • 19 Sep 2017
  • QCLOs, CFPB reform on agenda in era of reg loosening

    The headline panel on day two of ABS East on Monday kicked off with a wide ranging discussion on deregulation in the Trump era, with congressman Andy Barr (R-KY) telling ABS market participants to expect another push for a “qualified” CLO and a reining in of the powers of the Consumer Financial Protection Bureau (CFPB).

    • 18 Sep 2017


The GlobalCapital View logo   Comment

  • Consumer lenders need to embrace alternative data

    A move by Ford Credit to incorporate alternative data into its underwriting process will open up opportunities for underserved borrowers. More consumer lenders should follow suit if they want to reach, and more accurately assess, a growing segment of US consumers.

    • 29 Aug 2017
  • Draghi right to defend free trade, but should concentrate on the day job

    Mario Draghi’s speech at Jackson Hole last week was never going to be earth-shattering but his complete silence on the issue of tapering the bank’s various asset purchase programmes managed to frustrate the market even more than had been expected.

    • 29 Aug 2017

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Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 83,931.01 244 12.94%
2 Bank of America Merrill Lynch 71,587.85 220 11.03%
3 Wells Fargo Securities 64,351.96 203 9.92%
4 JPMorgan 46,391.25 147 7.15%
5 Credit Suisse 37,323.31 115 5.75%

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Max Adams
Securitization Editor
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Graham Bippart

European Securitization and Fixed Income Editor
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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 83,931.01 244 12.94%
2 Bank of America Merrill Lynch 71,587.85 220 11.03%
3 Wells Fargo Securities 64,351.96 203 9.92%
4 JPMorgan 46,391.25 147 7.15%
5 Credit Suisse 37,323.31 115 5.75%