Nervous Investors Push Euro ABS Spreads Wider

Nervous investors, reacting to market sentiment that credit fundamentals in European asset-backed securities deals are sliding, have been pushing spreads wider by buying protection through credit default swaps.

  • 27 Jun 2008

--Cristina Pittelli

Nervous investors, reacting to market sentiment that credit fundamentals in European asset-backed securities deals are sliding, have been pushing spreads wider by buying protection through credit default swaps. Spreads on the Crossover Itraxx have widened to 525 basis points over LIBOR from 480 bps last week. Consequently, ...

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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 117,398.62 338 11.04%
2 Bank of America Merrill Lynch 94,721.79 272 8.91%
3 JPMorgan 92,612.23 269 8.71%
4 Wells Fargo Securities 82,597.19 239 7.77%
5 Credit Suisse 69,442.99 183 6.53%