Euro CLOs Breaching OC Tests On The Rise

An increasing number of collateralized loan obligations in Europe are failing their overcollateralization tests, cutting off fees to managers and putting noteholders in danger of a cut-off in cash flows, according to analysts with Fitch Ratings.

  • 20 May 2009

--Cristina Pittelli

An increasing number of collateralized loan obligations in Europe are failing their overcollateralization tests, cutting off fees to managers and putting noteholders in danger of a cut-off in cash flows, according to analysts with Fitch Ratings. About 40% of the deals in Europe rated by the agency ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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1 Citi 2,384.00 8 11.97%
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