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 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 117,261.12 337 11.09%
2 Bank of America Merrill Lynch 94,721.79 272 8.96%
3 JPMorgan 92,612.23 269 8.76%
4 Wells Fargo Securities 82,597.19 239 7.81%
5 Credit Suisse 69,442.99 183 6.57%