Merger In Trouble Following Subprime Losses

  • 08 Aug 2007
Email a colleague
Request a PDF

MGIC Investment and Radian Group may fail to merge following losses in a jointly owned subprime-mortgage venture, reports The Wall Street Journal. Each company owns 46% of Credit-Based Asset Servicing & Securitization, or C-Bass, which has suffered losses recently following disruptions in the market. MGIC had agreed to purchase Radian in February for $4.9 billion but said it doesn’t have to complete the deal following troubles at C-Bass. Radian disagreed with MGIC’s view of the situation. “We remain committed to the transaction, and look forward to completing it as promptly as possible,” it stated.

Click here to read The Wall Street Journal story (subscription required)

  • 08 Aug 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,256 32 17.31
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.93
3 Citi 8,264 22 9.37
4 Lloyds Bank 7,329 24 8.31
5 JP Morgan 6,580 10 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 129,591.43 378 11.20%
2 Bank of America Merrill Lynch 103,557.15 301 8.95%
3 JPMorgan 101,741.96 296 8.79%
4 Wells Fargo Securities 91,373.90 263 7.90%
5 Credit Suisse 76,186.18 204 6.58%