Top stories

  • Spreads driving HY investors to US CLOs

    US CLO debt is drawing heightened interest from investors in other corners of the fixed income market, as the bonds remain cheap to other assets and offer attractive spreads for buyers looking for a pickup in yield.

    • 23 Sep 2016

  • European investors pile into latest Renovate America deal

    A $320m offering from residential Property Assessed Clean Energy (PACE) ABS issuer Renovate America saw the entrance of the European buy-and-hold crowd into the asset class, the company told GlobalCapital on Thursday.

    • 22 Sep 2016
  • Navistar keeps on trucking with new deal

    Navistar International, an Illinois-based manufacturer of trucks and mid-range diesel engines, is in the market with a $250m deal, following industry predictions of a surge in esoteric issuance this quarter.

    • 22 Sep 2016
  • ABS markets brace as Fed lays groundwork for rate hike

    The decision of the US Federal Reserve to leave interest rates unchanged means that conditions for ABS and broader fixed income markets are likely to remain stable for the rest of the year, but Fed chair Janet Yellen has laid groundwork for future hikes.

    • 22 Sep 2016
  • More ABS investors get to grips with above par pricing

    BMW Bank became the latest issuer to price an ABS deal above par on Wednesday, pulling in €1bn for its Bavarian Sky 5 German auto ABS deal. Opel Bank is also set to price its German auto paper above par on Friday.

    • 22 Sep 2016
  • Tax lien ABS has room to run as interest grows

    The market for tax lien securitizations is growing, with real money investors piling into new deals and new issuers coming to market in recent months. But challenges in aggregating collateral need to be resolved before the asset class can truly take off, said market participants this week.

    • 21 Sep 2016
  • More non-QM RMBS predicted before year end

    The RMBS market is set to see more non-qualified mortgage (non-QM) deals, potentially as early as the fourth quarter of this year, as issuers say they are fielding more calls from investors who are showing an increased appetite for higher yielding RMBS paper.

    • 21 Sep 2016
  • Perceived complexity a boon for CLO buyers

    CLO spreads offer excess returns compared to the underlying assets and other credit markets because of the “perceived” rather than actual complexity and illiquidity of the market, heard LevInvest attendees in Barcelona on Wednesday.

    • 21 Sep 2016
  • Change must come from the top - Women in Securitization

    Women in Securitization (WiS), a Structured Finance Industry Group (SFIG) initiative dedicated to promoting diversity in the workplace, noted that change is only effective when enacted by senior leaders in the industry.

    • 20 Sep 2016
  • Buyers struggling to break into exclusive CLO triple-A club

    The senior tranches of new issue CLOs are becoming an exclusive club consisting of US bank treasury departments, according to sources speaking with GlobalCapital.

    • 20 Sep 2016
  • CLO secondary market improves “materially”

    Liquidity in the CLO market has improved “materially” in the second half of this year, but in the wake of enormous volatility in the first quarter that put the sector in a deep freeze, the trading landscape has been altered.

    • 20 Sep 2016
  • FHFA looks to Congress to open CRT market to REITs

    The Federal Housing Finance Agency (FHFA) is looking for congressional legislation to make the government sponsored enterprises’ (GSEs) credit risk transfer products easier to buy for real estate investment trusts (REITs), as part of its efforts to grow the credit risk transfer (CRT) investor base.

    • 20 Sep 2016


The GlobalCapital View logo   Comment

  • Deep subprime autos threaten to once again discredit ABS

    It’s not just the level of delinquencies in subprime auto ABS — which in March hit a record high — that threatens to put the securitization industry back in the spotlight of public disapproval.

    • 30 Aug 2016
  • The Fed chair who yelled wolf

    Janet Yellen’s August 26 speech at the Jackson Hole Economic summit once again suggested the imminent arrival of rate hikes, but it’s an act which the market is beginning to tire of.

    • 30 Aug 2016

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Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Wells Fargo Securities 57,977.06 137 11.31%
2 Bank of America Merrill Lynch 52,688.38 148 10.28%
3 Citi 47,215.64 136 9.21%
4 JPMorgan 46,827.57 131 9.14%
5 Credit Suisse 39,896.25 106 7.79%

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Max Adams
Securitization Editor
+1 212 224-3293
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
mark.goodes@globalcapital.com

George Williams
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george.williams@globalcapital.com

 

New! 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) 6,215 16 11.38
2 Citi 5,912 16 10.83
3 Credit Suisse 4,439 8 8.13
4 JP Morgan 4,037 8 7.39
5 Rabobank 3,911 6 7.16

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Wells Fargo Securities 57,977.06 137 11.31%
2 Bank of America Merrill Lynch 52,688.38 148 10.28%
3 Citi 47,215.64 136 9.21%
4 JPMorgan 46,827.57 131 9.14%
5 Credit Suisse 39,896.25 106 7.79%