Banque PSA revolver offers spread pick-up

Peugeot’s Banque PSA Finance (Baa1) priced its FCT Compartiment 2011-1 auto ABS on Tuesday through joint leads BNP Paribas and Société Générale. Its unusual structure and duration meant pricing was considerably tighter than its previous auto ABS, but somewhat wider than where other European auto ABS have been priced this year.

  • 08 Jul 2011

The Eu956m class ‘A’ piece, rated triple-A by Moody’s and Fitch, was originally marketed in the one month Euribor plus 95bp area, before being refined to plus 90bp-95bp and eventually set at plus 90bp.

Some Eu656m of this tranche was placed with 20, predominantly French, investors and it ...

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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 16.83
2 Bank of America Merrill Lynch (BAML) 10,179 30 11.23
3 Citi 9,751 23 10.76
4 Lloyds Bank 7,329 24 8.09
5 JP Morgan 6,580 10 7.26

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 RBC Capital Markets 251.51 1 25.00%
1 MUFG 251.51 1 25.00%
1 Credit Agricole CIB 251.51 1 25.00%
1 Bank of America Merrill Lynch 251.51 1 25.00%
Subtotal 1,006.02 1 100.00%