‘Opportunistic’ BPE buys back 3% of ABS

Banco Popular Español’s fixed price tender for 10 tranches of legacy SME-loan ABS failed to arouse much investor enthusiasm, with the bank buying back only €24m of bonds.

  • 14 Dec 2012

That equates to 3% of the outstanding €750m of bonds eligible for the buyback. The take-up rate is significantly lower than the 10%-15% take-up in most other Spanish ABS buybacks this year.

"ABS buybacks are invariably opportunistic," said a liability management banker away from the deal. "If a ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

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 %
  • Last updated
  • Today
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%