Coventree Finds Emergency Funding

  • 15 Aug 2007
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Canada’s Coventree investment bank has found a buyer for C$600 million ($558.15 million) in asset-backed commercial paper after spending the first two days of the week searching for buyers. The company’s stock more than doubled by Wednesday afternoon after taking a beating the first two days of the week. The company had been trying to sell as much as C$950 million ($883.82 million) in commercial paper the previous day but investors balked amid a global credit crunch caused in part by weakness in the subprime market. Coventree is Canada’s biggest non-bank issuer of ABCP and sells paper likely backed by mortgage loans, car loans and credit cards.

Click hear to read the story from Bloomberg News

  • 15 Aug 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 Citi 1,712.34 6 12.44%
2 SG Corporate & Investment Banking 1,292.64 1 9.39%
2 Rabobank 1,292.64 1 9.39%
4 Mizuho 1,215.54 3 8.83%
5 Wells Fargo Securities 1,012.71 4 7.36%