Carillion loan was hedged in HSBC CLO

HSBC hedged part of its lending to Carillion in a synthetic CLO, Metrix 2015-1, with the latter company’s liquidation announcement on Monday triggering a credit event in the portfolio.

  • By Owen Sanderson
  • 17 Jan 2018

Metrix 2015-1 was issued in December 2015 as HSBC’s first synthetic CLO since the financial crisis. It hedged the risk on a $5bn book of loans to large corporates, with the $300m junior tranche transferred to investors through credit default swaps.

On Tuesday, the trustee of the deal

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 117,261.12 337 11.07%
2 Bank of America Merrill Lynch 94,721.79 272 8.94%
3 JPMorgan 92,612.23 269 8.74%
4 Wells Fargo Securities 82,597.19 239 7.80%
5 Credit Suisse 69,442.99 183 6.55%