HBOS Avoiding RMBS Market At Current Spread Levels

  • 20 Nov 2007
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U.K.-based HBOS does not want to issue residential mortgage-backed securities at current spread levels, according to the bank’s head of securitization and balance sheet management, reports Reuters UK. “We wouldn't be prepared to pay the prices,” said Ian Stewart. Stewart added that a lack of demand for the product has affected price. He also cited the structured covered bond market as an alternative option to the RMBS market. HBOS usually plans two residential mortgage-backed issues a year, each sized between £4-5 billion ($8.27-$10.33 billion).

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  • 20 Nov 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,691 11 20.69
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.77

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 48,981.15 156 10.70%
2 JPMorgan 42,528.25 122 9.29%
3 Wells Fargo Securities 37,344.94 107 8.16%
4 Bank of America Merrill Lynch 34,673.03 110 7.57%
5 Credit Suisse 29,307.78 89 6.40%