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 12,508 23 18.18
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.72
3 Lloyds Bank 5,761 18 8.38
4 Citi 5,606 15 8.15
5 JP Morgan 5,007 7 7.28

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 91,105.19 257 10.97%
2 Bank of America Merrill Lynch 78,286.59 217 9.43%
3 JPMorgan 68,975.82 196 8.31%
4 Wells Fargo Securities 67,736.13 189 8.16%
5 Credit Suisse 55,269.48 140 6.66%