Citigroup Preps $1.5 Bln Credit Card Securitization

Citigroup reportedly is preparing to offer a $1.5 billion credit card securitization.

  • 17 Dec 2009

Citigroup reportedly is preparing to offer a $1.5 billion credit card securitization. Sources said the three-year deal, which is not being marketed under the Federal Reserve’s Term Asset-Backed Securities Loan Facility, is AAA rated and expected to price around 60 basis points over swaps.

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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 18.00
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.42
3 Citi 5,130 13 8.76
4 JP Morgan 4,681 6 7.99
5 Lloyds Bank 3,389 13 5.79

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 70,706.84 201 11.60%
2 Bank of America Merrill Lynch 60,472.76 166 9.92%
3 Wells Fargo Securities 48,082.68 138 7.89%
4 JPMorgan 48,046.47 137 7.88%
5 Credit Suisse 38,252.19 94 6.28%