Goldman Special Situations Group issues loan-backed notes

The Special Situations Group at Goldman Sachs has structured private financing vehicles based in Luxembourg, which package up bundles of loans made by the group with an average rating of B/B-. The vehicle will also hold risk retention interests for Goldman-sponsored securitizations.

  • By Owen Sanderson
  • 14 Nov 2018

The loan vehicles, rated BBB+ by Arc Ratings, will be financed through a reverse repo from Goldman, with preferred equity provided by GSSG Holdings (Jersey) — another entity used by the special situations group.

The pool of assets overcollateralises the vehicles, with $757m of collateral backing $641m of ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,256 32 17.31
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.93
3 Citi 8,264 22 9.37
4 Lloyds Bank 7,329 24 8.31
5 JP Morgan 6,580 10 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 130,010.09 379 11.12%
2 Bank of America Merrill Lynch 104,113.90 304 8.90%
3 JPMorgan 102,778.33 300 8.79%
4 Wells Fargo Securities 93,728.92 276 8.01%
5 Credit Suisse 76,904.09 209 6.58%