Top stories

  • Lev loan market prepares for more retail asset stripping

    The number of highly leveraged retailers including clauses in loans that allow them to strip out valuable collateral into separate subsidiaries, out of reach of secured lenders, has reached “extreme” levels, according to loan market sources.

    • 16 Aug 2017

  • PayPal expands small biz lending, considers third party financing

    PayPal broadened its small business lending effort this month with the acquisition of online small business lender Swift Capital, while a spokesperson for the company tells GlobalCapital that it could pursue "third party financing structures in the future".

    • 16 Aug 2017
  • Fed split on wind down timing, flags multifamily risk

    Members of the Federal Open Market Committee (FOMC) in July were divided on when to start winding down the Federal Reserve’s balance sheet, according to meeting minutes, with some members also warning on price appreciation in the multifamily real estate market.

    • 16 Aug 2017
  • Irish reforms provide road map for Italian NPL problems

    Italy and its mountain of bad debt are firmly in focus for the European banking system, with observers hoping the country can look to other European nations, particularly, Ireland, for a solution to its non-performing loan dilemma.

    • 16 Aug 2017
  • Elan wraps auction for Dutch RMBS

    Elan Woninghypotheken has sold its latest Dutch RMBS deal using a modified auction process for all tranches except the senior notes, making it the third ABS issuer to go this route this year.

    • 16 Aug 2017
  • Moody’s dampens fears of ABS fallout from US retail woes

    A new report from Moody’s Investors Service on Tuesday said that the struggling US retail sector would have only a limited impact on structured finance asset classes, with only narrow areas of the market likely to face distress.

    • 15 Aug 2017
  • Sky prices inaugural aircraft ABS

    Sky Aviation Leasing International priced its first ever ABS offering this week, issuing a transaction backed by newer aircraft collateral, bucking the trend of previous deals backed by mid to older life aircraft.

    • 15 Aug 2017
  • Allen & Overy boosts US securitization team with Ashurst hires

    The New York office of Allen & Overy has hired a CLO-focused partner as well as four associates from Ashurst, building on recent hires in the high yield and leveraged finance practices.

    • 15 Aug 2017
  • Greystone adds two in originations push

    US private label and agency CMBS lender Greystone has hired two managing directors in its loan origination business, as the company eyes a pickup in activity in the CMBS market.

    • 15 Aug 2017
  • EU self-cert ban “a solution looking for a problem” — DBRS

    The European Union's ban on securitizing self-certified residential loans has been widely criticised by the market since being introduced last month, with DBRS adding to the outcry this week, describing the rule as a “solution looking for a problem”.

    • 15 Aug 2017
  • North Korea fears prompt euro CLO trading spike

    The prospect of nuclear conflict between the US and North Korea led to increased trading of CLO mezzanine debt in the secondary market, but the market recovered quickly this week as fears receded.

    • 15 Aug 2017


The GlobalCapital View logo   Comment

  • ABS allocations show UK already stands apart from Europe

    Despite UK assets offering juicier spreads than their European counterparts, distribution stats show little European investor participation in UK deals. That might be disappointing for UK issuers, but at least it means little to fear from a hard Brexit.

    • 08 Aug 2017

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Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 14 Aug 2017
1 Citi 73,217.70 205 13.50%
2 Bank of America Merrill Lynch 64,298.92 202 11.86%
3 Wells Fargo Securities 54,013.21 172 9.96%
4 JPMorgan 40,335.50 139 7.44%
5 Credit Suisse 30,239.23 97 5.58%

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Max Adams
Securitization Editor
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max.adams@globalcapital.com

Sasha Padbidri
New York Reporter
+1 212 224-3206

sasha.padbidri@globalcapital.com

Graham Bippart

European Securitization and Fixed Income Editor
+44 (0)207 779 8715
graham.bippart@globalcapital.com


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Mark Goodes
+44 (0)207 779 8605
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George Williams
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george.williams@globalcapital.com

 

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
  • 14 Aug 2017
1 Citi 73,217.70 205 13.50%
2 Bank of America Merrill Lynch 64,298.92 202 11.86%
3 Wells Fargo Securities 54,013.21 172 9.96%
4 JPMorgan 40,335.50 139 7.44%
5 Credit Suisse 30,239.23 97 5.58%