RBS Preps Synthetic Loan Deal

The Royal Bank of Scotland is in the market with a synthetic collateralized loan obligation that will reference senior and mezzanine leveraged loans.

  • 19 Oct 2003
Email a colleague
Request a PDF

The Royal Bank of Scotland is in the market with a synthetic collateralized loan obligation that will reference senior and mezzanine leveraged loans. The deal is expected to be E500 million and is called Skye CLO I. RBS will enter into a super senior credit default swap of E300 million and purchase junior credit protection from Skye for approximately E200 million, according to a source. Skye will then issue a variety of notes. This is the second synthetic CLO from RBS that taps the leveraged loan asset class. The firm raised debt backing a deal called Cairngorm in 2001. Officials from RBS did not return calls.

  • 19 Oct 2003

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 80,818.31 235 11.64%
2 Bank of America Merrill Lynch 65,088.22 185 9.37%
3 Wells Fargo Securities 56,145.09 163 8.08%
4 JPMorgan 53,381.65 156 7.69%
5 Credit Suisse 44,872.46 115 6.46%