German Balance-Sheet SME CLOs Unaffected By Crisis

German balance sheet small-to-medium enterprise collateralized loan obligations were largely unaffected by the financial crisis, according to Fitch Ratings.

  • 12 Sep 2011

German balance sheet small-to-medium enterprise collateralized loan obligations were largely unaffected by the financial crisis, according to Fitch Ratings. Fitch found on average total cumulative defaults across all 12 of the CLOs that it rated were roughly 2.5% of the initial transaction volumes since closing.

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,691 11 20.69
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.77

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 50,762.12 164 10.68%
2 JPMorgan 43,849.74 130 9.22%
3 Wells Fargo Securities 37,970.87 112 7.99%
4 Bank of America Merrill Lynch 36,015.87 117 7.58%
5 Credit Suisse 30,953.64 97 6.51%