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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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).
Go to GlobalCapital's Securitization data pages for our dealflow database, plus details of priced European and US CLOs and structured finance bookrunner league tables.
Latest ABS news
Latest RMBS news
Latest CMBS news
Latest CLO/CDO news
Latest securitization people & markets news
Latest Asia securitization news
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.
-
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.
Bookrunners of Global Structured Finance
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 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% |
Latest awards
-
2016 US Securitization Awards: the winners
On Tuesday May 17, GlobalCapital held its third annual US Securitization Awards dinner at the Pierre Hotel in Manhattan.
Comments? Questions? Tips?
Max AdamsSecuritization Editor
+1 212 224-3293
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
Subscriptions
Mark Goodes+44 (0)207 779 8605
mark.goodes@globalcapital.com
George Williams
+44 (0)207 779 8274
george.williams@globalcapital.com
Latest Issue
Read the magazine on your mobile device
Want full access to GlobalCapital?
If you are new to GlobalCapital or you already subscribe to some of our channels you can still easily extend your access.
Take a trial to the entire site or subscribe online to see all our capital markets news, opinion and data sets.
Don't miss out!
Free trialBank Profiles
Latest news by market and league table performance
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 % |
|---|---|---|---|---|
| 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% |
