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 ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 4,296 9 13.65
2 BNP Paribas 3,026 10 9.61
3 Bank of America Merrill Lynch (BAML) 2,411 8 7.66
4 Lloyds Bank 2,213 9 7.03
5 Credit Agricole 2,025 6 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 37,494.89 105 12.02%
2 Bank of America Merrill Lynch 30,932.47 87 9.92%
3 Wells Fargo Securities 26,900.77 74 8.62%
4 JPMorgan 23,547.25 70 7.55%
5 Credit Suisse 19,951.44 47 6.40%