Iceland Bank Bust Threatens Securitizations

Rating downgrades have started to hit securitizations deals from Iceland’s three major banks after they went bust.

  • 10 Oct 2008

--Cristina Pittelli

Rating downgrades have started to hit securitizations deals from Iceland’s three major banks after they went bust. More downgrades are likely to follow and analysts have warned ongoing turmoil in the Icelandic banking sector could affect performance of the counterparties involved.

The three major banks -- Glitnir, Landsbanki ...

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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 15,256 32 17.31
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.93
3 Citi 8,264 22 9.37
4 Lloyds Bank 7,329 24 8.31
5 JP Morgan 6,580 10 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 129,591.43 378 11.20%
2 Bank of America Merrill Lynch 103,557.15 301 8.95%
3 JPMorgan 101,741.96 296 8.79%
4 Wells Fargo Securities 91,373.90 263 7.90%
5 Credit Suisse 76,186.18 204 6.58%