Guidance shows steady demand for alternative lender, non-STS deals

The European pipeline is awash with RMBS deals, most of them concentrated in the UK as issuers hurry to beat a new round of Brexit uncertainty. Out of the five RMBS deals making their way through the market however, only one is set to qualify for the ‘simple, transparent and standardised’ (STS) regulatory regime, as levels of STS issuance from the banking sector appears to have slowed.

  • By Tom Brown
  • 26 Jun 2019
The latest SBOLT deal, a securitization of marketplace loans originated by Funding Circle, is being issued by Waterfall Asset Management and arranged by Deutsche Bank. The senior notes are being guided at around 120bp over one Libor. Classes ‘B’ to ‘D’ are guided in the high 100bp to ...

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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 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 %
  • Last updated
  • Today
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%