Top stories

  • Macquarie looks to broaden US ABS footprint

    Macquarie Group is seeking to hire a US ABS director for its credit markets team as it looks to grow its presence in US esoteric ABS sectors, including whole business, marketplace lending and renewable energy finance.

    • 15 Feb 2018

  • UK banks eye dollar RMBS as TFS rolls off

    UK securitization issuers preparing for the end of the Bank of England's Term Funding Scheme are eyeing dollar-denominated RMBS, following a strong result for Nationwide's Silverstone 2018-1 issue, marketed over two weeks in the UK and US.

    • 15 Feb 2018
  • EBA pushes for tougher hedging after Premier Oil split risk transfer market

    Premier Oil’s restructuring last year was a test for the risk transfer market, as it saw the different synthetic securitizations exposed to the troubled firm react very differently. The European Banking Authority wants to see a tougher approach and more consistency in the market, which could hurt some firms’ ability to transfer risk.

    • 15 Feb 2018
  • More debut issuers drawn to CRE CLOs for cheap funding

    First time issuers are dominating activity in the growing market for commercial real estate CLOs, with Bridge Debt Strategies the latest debut real estate investment trust to tap the market.

    • 14 Feb 2018
  • Global Jet revives scuttled 2017 aircraft deal

    Global Jet Capital, a private aircraft financier, has revived a securitization backed by a portfolio of aircraft leases and loans that the company scuttled late last year.

    • 14 Feb 2018
  • Al Rayan sets path to further Islamic UK RMBS

    Al Rayan Bank priced the first UK Islamic securitization this week. Even though the final spread was more than double the level of another recently priced prime UK RMBS, repeat issuance from the issuer’s Tolkien Funding programme is likely and a number of other issuers could follow.

    • 14 Feb 2018
  • Little respite for loan starved CLOs despite credit swings

    US high yield bonds have been jittery in recent days but the loan market has largely held firm, with few opportunities for CLO managers to buy assets on the cheap. The riskiest pieces of CLO debt have shown some vulnerability to market pressures, however.

    • 13 Feb 2018
  • Tax reform presents obstacle for residential PACE ABS

    A trio of changes in the recently signed US tax reform package could lead to shrinking origination volumes of residential Property Assessed Clean Energy (PACE) liens, and speed up prepayments on existing PACE securitizations, analysts at Morningstar Credit Ratings cautioned this week.

    • 13 Feb 2018
  • Marble Point US CLO fund lists on LSE

    Shares in US CLO manager Marble Point’s listed loan fund were admitted to the London Stock Exchange on Tuesday, after the firm successfully closed a $42.5m initial public offering on Friday.

    • 13 Feb 2018
  • Morningstar appoints new president, sees potential boom in esoteric ABS

    Morningstar Credit Ratings has named managing director of RMBS and ABS Brian Grow as president, as the rating agency eyes a growing esoteric securitization market in 2018.

    • 13 Feb 2018
  • Blackstone CMBS defies ECB ban to price at tight end of talk

    Blackstone’s Italian CMBS Pietra Nera Uno was priced this week at the tight end of the 115bp-125bp price talk range for the senior tranche, despite a minor upset last Thursday as the European Central Bank (ECB) decreed that CMBS would be ineligible as repo collateral.

    • 13 Feb 2018


The GlobalCapital View logo   Comment

  • CMBS revival masks big industry shifts

    The US CMBS industry is clawing back market share in real estate lending by targeting high end hotel and office properties with single loan deals. But lenders have had to loosen their standards to do so, and the proliferation of single loan deals will concentrate risk in a market designed to diversify it.

    • 23 Jan 2018

more comment

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 12,796.80 35 13.50%
2 Wells Fargo Securities 8,855.62 27 9.34%
3 Bank of America Merrill Lynch 8,771.28 25 9.25%
4 JPMorgan 7,423.52 25 7.83%
5 RBC Capital Markets 4,569.28 13 4.82%

Latest awards

Comments? Questions? Tips?

Max Adams
Securitization Editor
+1 212 224-3293
max.adams@globalcapital.com

Sasha Padbidri
New York Reporter
+1 212 224-3206

sasha.padbidri@globalcapital.com

Graham Bippart

European Securitization and Fixed Income Editor
+44 (0)207 779 8715
graham.bippart@globalcapital.com


Subscriptions

Mark Goodes
+44 (0)207 779 8605
mark.goodes@globalcapital.com

George Williams
+44 (0)207 779 8274
george.williams@globalcapital.com

 

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 %
  • Last updated
  • Today
1 Citi 12,796.80 35 13.50%
2 Wells Fargo Securities 8,855.62 27 9.34%
3 Bank of America Merrill Lynch 8,771.28 25 9.25%
4 JPMorgan 7,423.52 25 7.83%
5 RBC Capital Markets 4,569.28 13 4.82%