Buyers say subprime autos have room to run

Bonds backed by car loans made to subprime borrowers have remained a hot sector of the securitization market, as buyers say the asset class cruised through broader market volatility this week and that spreads have room to grind tighter.

  • By Sasha Padbidri
  • 07 Feb 2018

Securitization players speaking with GlobalCapital this week were unfazed by the volatility that struck equity markets, pointing to the value of ABS as a “safe haven”.

“Structured finance seems to be weathering the market pretty well. There was equity volatility but nothing much was happening in ABS. On the margin, there ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 4,296 9 12.47
2 BNP Paribas 3,136 11 9.10
3 Bank of America Merrill Lynch (BAML) 2,934 10 8.52
4 Lloyds Bank 2,213 9 6.42
5 Credit Agricole 2,025 6 5.88

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 45,786.98 132 11.43%
2 Bank of America Merrill Lynch 42,772.13 118 10.68%
3 Wells Fargo Securities 33,822.43 98 8.45%
4 JPMorgan 31,322.80 90 7.82%
5 Credit Suisse 24,807.99 61 6.20%