S&P Homes In On Covenant-Lite Loans

Standard & Poor’s is placing covenant-lite loans and their impact on collateralized loan obligations under the microscope.

  • 14 Jun 2007

--Hugh Leask

Standard & Poor’s is placing covenant-lite loans and their impact on collateralized loan obligations under the microscope. With cov-lites booming thanks to the growth in leveraged buyouts and high levels of liquidity, CLOs’ exposure to this type of debt has grown. S&P is extending its asset-specific recovery ...

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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) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

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Rank Lead Manager Amount $m No of issues Share %
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1 Citi 9,235.10 31 12.19%
2 Barclays 7,853.42 22 10.36%
3 Bank of America Merrill Lynch 7,473.95 24 9.86%
4 JPMorgan 7,225.34 25 9.54%
5 Wells Fargo Securities 6,258.35 24 8.26%