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 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 80,818.31 235 11.57%
2 Bank of America Merrill Lynch 66,338.04 186 9.50%
3 Wells Fargo Securities 56,344.19 164 8.07%
4 JPMorgan 53,381.65 156 7.64%
5 Credit Suisse 44,872.46 115 6.43%