Back-Up Italian Servicer Appointments Slower Than Expected

Fitch Ratings reports that the appointment of a back-up servicer in several Italian structured finance transactions in some cases has taken at least three to four months, and often up to seven months, instead of the 30 to 45 days as specified in deal documents.

  • 01 May 2013

Fitch Ratings reports that the appointment of a back-up servicer in several Italian structured finance transactions in some cases has taken at least three to four months, and often up to seven months, instead of the 30 to 45 days as specified in deal documents.

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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 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

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Rank Lead Manager Amount $m No of issues Share %
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1 Citi 118,616.77 341 11.09%
2 Bank of America Merrill Lynch 94,721.79 272 8.85%
3 JPMorgan 92,612.23 269 8.66%
4 Wells Fargo Securities 82,597.19 239 7.72%
5 Credit Suisse 70,475.74 184 6.59%