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 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 13,091.24 36 13.59%
2 Wells Fargo Securities 9,068.95 28 9.41%
3 Bank of America Merrill Lynch 8,771.28 25 9.10%
4 JPMorgan 8,197.56 26 8.51%
5 RBC Capital Markets 4,569.28 13 4.74%