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‘Convenience’ Deferrals Rising For TruPS?

Participants in the trust preferreds collateralized debt obligation market are debating the rise of “convenience deferrals,” or the deferment of payments to preference shares by issuing banks.

  • 16 Dec 2009

--Olivia Thetgyi

Participants in the trust preferreds collateralized debt obligation market are debating the rise of “convenience deferrals,” or the deferment of payments to preference shares by issuing banks. While some argue more banks are deferring payments out of choice rather than necessity, others say there is more need ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
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1 Citi 3,237 10 19.12
2 Goldman Sachs 2,096 5 12.39
3 Morgan Stanley 1,965 5 11.61
4 BNP Paribas 1,686 6 9.96
5 Barclays 1,565 4 9.25

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 30,859.27 98 11.48%
2 JPMorgan 25,558.51 72 9.51%
3 Wells Fargo Securities 24,627.51 67 9.16%
4 Bank of America Merrill Lynch 23,023.30 73 8.56%
5 Barclays 16,546.45 55 6.16%