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 15,256 32 17.31
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.93
3 Citi 8,264 22 9.37
4 Lloyds Bank 7,329 24 8.31
5 JP Morgan 6,580 10 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 130,254.20 381 11.03%
2 Bank of America Merrill Lynch 104,440.37 307 8.85%
3 JPMorgan 103,862.77 304 8.80%
4 Wells Fargo Securities 93,728.92 276 7.94%
5 Credit Suisse 76,912.30 210 6.51%