New MBS issues weakened by trades in CDS of ABS market

The fledgling European market for credit default swaps on asset backed securities showed its influence on the cash securitisation market this week.

  • 11 May 2007

New issues backed by UK non-conforming mortgages and Spanish prime mortgages were driven to price at much wider spreads at the triple-B level by selling pressure in the CDS market.

Structured finance bankers have always expected that the advent of CDS of ABS would make the underlying market more ...

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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 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 81,261.11 236 11.54%
2 Bank of America Merrill Lynch 66,433.81 187 9.43%
3 Wells Fargo Securities 57,637.40 170 8.18%
4 JPMorgan 53,570.42 158 7.61%
5 Credit Suisse 45,349.30 117 6.44%