TSI seals STS status as deal pipeline builds

The ‘simple, transparent and standardised’ framework for securitisations took another step forward this week when its first third-party verifier, True Sale International’s STS Verification International (SVI), was authorised by German regulator BaFin. Another verifier, Prime Collateralised Securities (PCS), is already working on deals as it awaits authorisation.

  • By Tom Brown
  • 07 Mar 2019

TSI said that the company’s purpose is “to ensure proper, legally compliant and consistent implementation of the new securitisation framework.”

Heiko Wiegmann, at the treasury department of Volkswagen Financial Services, said: “We now have a third party verifier.”

The STS framework was approved by the European Parliament on 

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 102,994.82 409 8.29%
2 Citi 96,697.47 362 7.78%
3 Barclays 82,826.79 294 6.66%
4 Bank of America Merrill Lynch 82,541.75 313 6.64%
5 HSBC 66,026.80 322 5.31%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 8,946.93 17 9.40%
2 Deutsche Bank 6,056.30 15 6.36%
3 Commerzbank Group 5,474.20 22 5.75%
4 BNP Paribas 5,160.94 25 5.42%
5 UniCredit 4,424.51 19 4.65%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 2,328.59 11 11.03%
2 Morgan Stanley 2,133.75 13 10.11%
3 Bank of America Merrill Lynch 1,598.67 7 7.57%
4 JPMorgan 1,546.03 8 7.33%
5 UBS 1,229.93 7 5.83%