Euro CLO Spreads Widen On Downgrade Fears

European AAA collateralized loan obligation spreads have gapped out for the first time in several months, according to industry analysts, as fears of rating downgrades from underlying credit deterioration increase.

  • 02 Mar 2009
--Cristina Pittelli

European AAA collateralized loan obligation spreads have gapped out for the first time in several months, according to industry analysts, as fears of rating downgrades from underlying credit deterioration increase. Many CLO managers continue to struggle to improve their portfolios, severely limited on the assets they are ...

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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 %
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1 Citi 118,826.70 342 11.07%
2 Bank of America Merrill Lynch 94,721.79 272 8.82%
3 JPMorgan 92,878.89 270 8.65%
4 Wells Fargo Securities 82,807.12 240 7.71%
5 Credit Suisse 70,475.74 184 6.57%