Buyers clamour for esoterics but opportunities are scarce

European securitization investors are increasingly on the hunt for more esoteric cash flows, but a lack of supply means that buyers are going to need to get creative with how they source allocations, said speakers on a panel on day one of Global ABS.

  • By Max Adams
  • 11 Jun 2019

Energy related securitizations and marketplace loan ABS were of particular interest to the audience, according to a poll during the discussion. However, the supply of paper in both of those asset classes has been disappointing to date in Europe.

“Less than €100bn of supply in ABS is expected ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,779 12 18.72
2 Morgan Stanley 2,420 6 11.99
3 Goldman Sachs 2,096 5 10.39
4 BNP Paribas 2,058 7 10.20
5 Barclays 1,565 4 7.75

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 50,836.16 165 10.60%
2 JPMorgan 43,849.74 130 9.15%
3 Wells Fargo Securities 37,970.87 112 7.92%
4 Bank of America Merrill Lynch 36,089.91 118 7.53%
5 Credit Suisse 31,628.23 101 6.60%