Double-A demand unlikely to be sated

When it comes to double A rated ABS, it takes more than demand to generate supply. Market participants have told EuroWeek Structured Finance that issuers are unlikely to start printing ABS deals in large volume in spite of an investor base that is thirsting for paper.

  • 13 Aug 2012
This is because, unlike in the pre-crisis heydays of ABS and following a recent rally in spreads, it is cheaper for most names to fund in senior unsecured than double A ABS. The UK Treasury's Funding for Lending Scheme (FLS) may also be having an effect, although bankers ...

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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 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 81,261.11 236 11.54%
2 Bank of America Merrill Lynch 66,433.81 187 9.43%
3 Wells Fargo Securities 57,637.40 170 8.18%
4 JPMorgan 53,570.42 158 7.61%
5 Credit Suisse 45,349.30 117 6.44%