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 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 %
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1 Citi 117,261.12 337 11.07%
2 Bank of America Merrill Lynch 94,721.79 272 8.94%
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4 Wells Fargo Securities 82,597.19 239 7.80%
5 Credit Suisse 69,442.99 183 6.55%