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 Citi 3,237 10 19.12
2 Goldman Sachs 2,096 5 12.39
3 Morgan Stanley 1,965 5 11.61
4 BNP Paribas 1,686 6 9.96
5 Barclays 1,565 4 9.25

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 33,499.81 106 11.84%
2 JPMorgan 26,026.16 75 9.20%
3 Wells Fargo Securities 25,325.15 70 8.95%
4 Bank of America Merrill Lynch 23,157.33 74 8.18%
5 Barclays 17,494.57 59 6.18%