Merger In Trouble Following Subprime Losses

  • 08 Aug 2007
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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.

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  • 08 Aug 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 12,508 23 18.18
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.72
3 Lloyds Bank 5,761 18 8.38
4 Citi 5,606 15 8.15
5 JP Morgan 5,007 7 7.28

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 92,032.58 259 11.01%
2 Bank of America Merrill Lynch 79,057.17 220 9.45%
3 JPMorgan 69,156.83 197 8.27%
4 Wells Fargo Securities 68,746.03 193 8.22%
5 Credit Suisse 55,529.51 142 6.64%