Top stories
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Facing collateral shortage, CLO managers turn to middle market
CLO managers are buying smaller, less liquid middle market loans to boost the spread on offer in their funds, as aggressive repricing in the broadly syndicated loan sector squeezes the arbitrage in the structures.
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Private placements, ABS dominate air finance discussions
Industry pros at the Airline Economics Growth Frontiers Conference in New York this week were keen to point out the advantages of the private placement and ABS markets, citing the number of investors looking to increase allocations in both sectors.
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Euro ABS issuers to race to market ahead of QE tapering
The European ABS market has never been hotter, at least in the post-crisis era, and issuers are being advised to stuff the pipeline with deals to take advantage of record tight spreads and beat expected tapering of QE by the European Central Bank in 2018. Sam Kerr reports.
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Spire builds out credit team with two hires
CLO manager Spire Partners has added two hires to its credit team, as it looks to broaden its portfolio management capabilities.
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EU rescues securitization market from self-inflicted screw-up
The European Union has fixed a regulation which would have accidentally banned securitization of many legacy assets, after an outraged response from the industry when the planned rule was published in the summer.
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Mortgage lenders rush RMBS pipeline
RMBS issuers have flocked to the primary market this week, with five deals hitting the pipeline through Wednesday across a range of asset types, including a new structure from Freddie Mac, a second prime jumbo deal from AIG, and a rare mortgage insurance deal from Arch Capital.
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Industry weighs benefits of EETC funding
The Enhanced Equipment Trust Certificate (EETC) sector could be a better option than bank debt for carriers looking to finance themselves in one fell swoop, said aviation experts at the Airline Economics Growth Frontiers Conference in New York.
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Mosaic prices solar ABS at tight spreads
Mosaic sold a solar loan securitization at tight spreads on Wednesday, as investors report that the market for renewable energy ABS is turning into a food fight amid heavy demand and low supply.
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Latest Irish RMBS deal draws a crowd
Euro ABS investors flocked to an Irish RMBS deal from Permanent TSB that was priced on Wednesday, with the bonds well oversubscribed throughout the capital stack.
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VW sells auto lease ABS transaction
VW Finance has priced its latest auto ABS transaction 1bp shy of post crisis tights, with both the senior and mezzanine notes attracting heavy demand.
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Renew prices second 2017 PACE ABS deal
Property Assessed Clean Energy (PACE) finance company Renew Financial priced its second ABS transaction of the year on Tuesday.
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
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Who would want to be Mark Carney?
The Bank of England is now odds on to raise interest rates at the November meeting of the Monetary Policy Committee in November, after the Consumer Price index reported inflation exceeding 3%, but such a move could tip the UK economy over a cliff.
Bookrunners of Global Structured Finance
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 99,251.11 | 279 | 13.15% |
| 2 | Bank of America Merrill Lynch | 90,895.27 | 265 | 12.04% |
| 3 | Wells Fargo Securities | 72,661.39 | 222 | 9.63% |
| 4 | JPMorgan | 52,367.24 | 169 | 6.94% |
| 5 | Credit Suisse | 41,885.89 | 127 | 5.55% |
Latest awards
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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
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Mark Goodes+44 (0)207 779 8605
mark.goodes@globalcapital.com
George Williams
+44 (0)207 779 8274
george.williams@globalcapital.com
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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) | 6,415 | 22 | 12.84 |
| 2 | Citi | 5,781 | 17 | 11.57 |
| 3 | BNP Paribas | 3,530 | 14 | 7.06 |
| 4 | Credit Suisse | 2,783 | 8 | 5.57 |
| 5 | Rabobank | 2,633 | 4 | 5.27 |
Bookrunners of Global Structured Finance
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 99,251.11 | 279 | 13.15% |
| 2 | Bank of America Merrill Lynch | 90,895.27 | 265 | 12.04% |
| 3 | Wells Fargo Securities | 72,661.39 | 222 | 9.63% |
| 4 | JPMorgan | 52,367.24 | 169 | 6.94% |
| 5 | Credit Suisse | 41,885.89 | 127 | 5.55% |
