Consumer spreads have room to tighten through June

Consumer-related ABS issuance started off the week strong and steady with four deals from Navient, DriveTime, World Omni and SeaCube either priced or in the pipeline amid spreads on a downward trajectory.

  • By Jennifer Kang
  • 07 May 2019

Market participants have been encouraged by low unemployment rates and a dovish Fed, opening the door to even further tightening of spreads, especially in the consumer-related ABS asset classes, according to a Bank of America report.

The unemployment rate stands at 3.6%, the lowest since December 1969, and average ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 5,997 17 15.40
2 Citi 4,679 16 12.02
3 Lloyds Bank 3,158 6 8.11
4 Bank of America Merrill Lynch (BAML) 3,104 10 7.97
5 Morgan Stanley 3,066 8 7.88

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 69,085.90 230 10.50%
2 JPMorgan 63,371.79 193 9.63%
3 Wells Fargo Securities 50,770.30 154 7.72%
4 Bank of America Merrill Lynch 50,413.91 166 7.66%
5 Credit Suisse 45,852.68 144 6.97%