European CLO recovery hampered by Volcker uncertainty

The European market for collateralised loan obligations could see €8bn-€12bn of new supply in 2014, according to experts at an industry conference in London on Tuesday. But while the buyer base is broadening and demand is increasing, regulation — in particular the Volcker Rule in the US — is continuing to put a dampener on market sentiment.

  • By Will Caiger-Smith
  • 25 Feb 2014
Two European CLO deals have been priced so far this year, and panellists at IMN’s European CLO conference in London said that with six active deals being worked on at the moment and four more expected to come, about 12 transactions should be priced in the first six ...

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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 95,041.28 268 11.13%
2 Bank of America Merrill Lynch 79,274.93 221 9.29%
3 Wells Fargo Securities 69,765.48 197 8.17%
4 JPMorgan 69,438.13 198 8.13%
5 Credit Suisse 57,820.17 147 6.77%