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 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 %
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1 Citi 79,222.71 230 11.49%
2 Bank of America Merrill Lynch 65,088.22 185 9.44%
3 Wells Fargo Securities 55,825.35 161 8.10%
4 JPMorgan 52,873.25 155 7.67%
5 Credit Suisse 44,197.08 113 6.41%