Carrefour Banque finds solid bid for rare credit card deal

Carrefour Banque’s debut credit card securitization will be priced on Friday morning after attracting a solid bid on the back of the borrower’s full week roadshow.

  • By Joseph McDevitt
  • 14 Nov 2013

Lead managers HSBC, Natixis and Société Générale tested investor appetite on Wednesday, putting out initial price thoughts of one month plus 65bp area for the €400m of triple-A rated ‘A2013-1’ senior notes on offer. The tranche has 1.58 year WAL and 27.92% credit enhancement.

By Thursday afternoon the ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 1,505.59 4 23.31%
2 SG Corporate & Investment Banking 1,292.64 1 20.01%
2 Rabobank 1,292.64 1 20.01%
4 BNP Paribas 598.25 2 9.26%
5 TD Securities Inc 241.54 1 3.74%