Cats and cards ahead for ABS

Primary issuance in the European securitisation market is expected to improve after the summer break, despite there being just two small transactions in the pipeline. Capital One (Europe) is expected to issue unrated ABS notes backed by credit card receivables, while Hannover Re is preparing Eurus III, a €75m natural catastrophe bond.

  • 29 Aug 2012
Capital One (Europe) is preparing a securitisation backed by UK credit cards, Carlisle Castle 2012-A, according to ratings reports. Fitch says CapOne has added around 620,000 accounts, with a total receivables balance of around £290m, to the trust, as of 21 August 2012. The pool is made up ...

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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 15,256 32 17.31
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.93
3 Citi 8,264 22 9.37
4 Lloyds Bank 7,329 24 8.31
5 JP Morgan 6,580 10 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 130,254.20 381 11.03%
2 Bank of America Merrill Lynch 104,440.37 307 8.85%
3 JPMorgan 103,862.77 304 8.80%
4 Wells Fargo Securities 93,728.92 276 7.94%
5 Credit Suisse 76,912.30 210 6.51%