Spanish Bank Marketing $7.2 Bln RMBS

Banco Bilbao Vizcaya Argentaria is coming to market with its second mortgage-backed securitization of the year, BBVA RMBS 4, Fondo de Titulizacion de Activos.

  • 14 Nov 2007
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-- Leo Shvartsman

Banco Bilbao Vizcaya Argentaria is coming to market with its second mortgage-backed securitization of the year, BBVA RMBS 4, Fondo de Titulizacion de Activos. The floating-rate notes are preliminarily pegged at €4.9 billion ($7.2 billion). BBVA is the originator, servicer, paying agent and interest swap counterparty on the deal. Officials at BBVA declined to comment on the transaction until it was closed.

Standard & Poor’s rated the deal, which has three AAA class A notes, an A-rated class B piece and a BBB class C tranche. S&P officials did not immediately return calls.

  • 14 Nov 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 5,997 17 15.40
2 Citi 4,679 16 12.02
3 Lloyds Bank 3,158 6 8.11
4 Bank of America Merrill Lynch (BAML) 3,104 10 7.97
5 Morgan Stanley 3,066 8 7.88

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 70,842.09 237 10.45%
2 JPMorgan 64,579.62 197 9.52%
3 Bank of America Merrill Lynch 51,474.08 169 7.59%
4 Wells Fargo Securities 51,322.59 157 7.57%
5 Credit Suisse 47,737.24 151 7.04%