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Bank of America and Natixis squeeze RMBS through Libor cut-off window

Paratus is bringing a UK buy-to-let RMBS via arrangers Bank of America and Natixis. The deal's coupons will be linked to the Libor benchmark rather than Sonia, to which the majority of the sterling securitization market switched over before the Global ABS Barcelona conference.

  • By Tom Brown
  • 24 Jun 2019

This is because the last Libor fixing for the deal occurs on December 12, 2021 before the step-up date, inching ahead of the January 1, 2022  deadline, which the Bank of England has marked for the discontinuation of Libor.

The Financial Conduct Authority (FCA) announced that support ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
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1 BNP Paribas 4,486 16 13.62
2 Citi 4,347 16 13.20
3 Lloyds Bank 3,158 6 9.59
4 Morgan Stanley 3,066 8 9.31
5 Bank of America Merrill Lynch (BAML) 2,771 10 8.42

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
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1 Citi 59,774.40 197 10.64%
2 JPMorgan 52,017.12 155 9.26%
3 Wells Fargo Securities 42,153.78 123 7.51%
4 Bank of America Merrill Lynch 41,657.82 137 7.42%
5 Credit Suisse 38,415.30 121 6.84%