Big bank US CLO arrangers struggle to find footing

With liability costs rising and more CLO managers dealing with 'underwater' warehouses, some arranging banks have found it hard to do as many deals as they did last year.

  • By Alexander Saeedy
  • 20 Mar 2019

Goldman Sachs, which arranged at least 48 CLOs in 2018 and 12 deals within the first three months of that year, based on GlobalCapital data, has arranged only four deals in 2019. 

Morgan Stanley has arranged only six deals this year, down from 12 year-to-date in 2018, while Citi ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 4,347 16 16.63
2 BNP Paribas 2,866 11 10.96
3 Morgan Stanley 2,420 6 9.26
4 Goldman Sachs 2,276 6 8.71
5 Bank of America Merrill Lynch (BAML) 2,086 9 7.98

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 58,403.50 191 10.75%
2 JPMorgan 50,900.93 151 9.37%
3 Bank of America Merrill Lynch 41,109.55 134 7.57%
4 Wells Fargo Securities 40,627.46 119 7.48%
5 Credit Suisse 38,293.05 120 7.05%