Euribor survival more likely, eases pain for legacy debt deals

A reformed Euribor may be allowed to continue past 2020, potentially easing the problems of legacy bonds and securitizations which reference Euribor without provisions for its replacement in deal documents.

  • By Tom Brown
  • 25 Feb 2019
The European Money Markets Institute (EMMI), alongside other market participants, is pushing for reforms to Euribor to allow the benchmark to continue to operate past the arrival of the Benchmark Regulation at the beginning of 2020, meaning that Europe may see three separate benchmarks operating simultaneously ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 2,007 6 18.96
2 BNP Paribas 1,434 4 13.55
3 Goldman Sachs 1,392 3 13.15
4 Barclays 1,097 2 10.37
5 Morgan Stanley 1,094 2 10.34

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1 Citi 18,228.90 62 10.55%
2 JPMorgan 17,535.24 47 10.14%
3 Wells Fargo Securities 16,128.82 45 9.33%
4 Bank of America Merrill Lynch 15,717.90 52 9.09%
5 Barclays 12,370.12 42 7.16%