Sun rises over Italian STS securitization market

Agos Ducato has mandated arrangers Credit Agricole and Banca Arkos for an Italian consumer ABS from its Sunrise shelf, Sunrise 2019–1, a €1.1bn transaction set to be the first Italian deal to comply with the ‘simple, transparent and standardised’ (STS) framework.

  • By Tom Brown
  • 09 May 2019
Third party verifier Prime Collateralised Securities (PCS) has labeled the transaction as STS-compliant. Only the senior tranche will be on offer to investors, as in previous Sunrise deals. The last issuance was priced in July and was sold at 45bp over one month Euribor for the senior ...

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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 %
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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%