Securitization

Top stories

NIBC to re-ignite Dutch RMBS programme after long dry spell

Following the successful debut issuance of £250m senior preferred bonds last week, NIBC's latest transaction, Dutch MBS XIX, brings them back to the securitization market for the first time since January 2013.
- 04:45 PM
Goldman Special Situations Group issues loan-backed notes

The Special Situations Group at Goldman Sachs has structured private financing vehicles based in Luxembourg, which package up bundles of loans made by the group with an average rating of B/B-.
- 12:45 PM
CMBS payoff rate hits post-crisis high in October

The percentage of CMBS loans that were paid off at maturity surged in October, according to Trepp, hitting the highest level since the commercial real estate data provider began tracking the figures in 2008.
- 13 Nov 2018
Swollen Cali wildfire risk hits insurance, ILS sectors

Camp Fire is the most destructive wildfire in California’s history and the latest sign that insurers in the state are facing a recurring threat from blazes. Within the catastrophe bond market, the recent events have focused minds on insurance losses as usual, but also on the utility companies that have issued securities to cover their liability for losses.
- 13 Nov 2018
Securitization hedge fund LibreMax buys CLO manager

LibreMax, the securitization focused hedge fund started by famed crisis-era ABS trader Greg Lippmann, is betting on the continued bull run of the CLO market with the acquisition of Trimaran Advisors.
- 12 Nov 2018
Wells analysts see shades of 2013 'taper tantrum' in autumn volatility

Looking at the broad-based market volatility battering financial markets this fall, analysts at Wells Fargo are eyeing similar conditions between ‘Red October’ and the 2013 taper tantrum, with one notable exception — the absence of a major investor to help reduce volatility and absorb new supply.
- 12 Nov 2018
Northview UK RMBS joins November deal flow

New issue euro ABS announcements have slowed to a trickle in November. Deals still making their way through the pipeline include two CMBS deals – Arrow 2018 and Oranje ELOC 32 – a UK credit card ABS, a Spanish SME CLO and a student loan ABS deal. On Monday, Northview Group added to those deals with a £327m non-conforming RMBS transaction.
- 12 Nov 2018
Sunrun preps solar ABS offering as pace of issuance picks up

Residential solar installer Sunrun is preparing to launch an asset-backed securitization in the next few weeks after a spurt of offerings from competitors.
- 08 Nov 2018
CSAM boosts latest CLO as market hits $112bn

Credit Suisse Asset Management increased the size of its latest CLO by over $200m on Thursday, with ICG also pricing a new deal this week to bring year to date volumes in the US to $112bn.
- 08 Nov 2018
Demand for Dilosk RMBS paves way for BTL deal

In a week with just one new issue euro ABS announcement — a Spanish small and medium-enterprise (SME) CLO — investors piled into specialist lender Dilosk’s Irish retail mortgage backed security (RMBS). Pricing of the deal at the tight end of guidance will open the door for the lender to step into the buy-to-let RMBS market in 2019, executives say.
- 08 Nov 2018

Go to GlobalCapital's Securitization data pages for our dealflow database, plus details of priced European and US CLOs and structured finance bookrunner league tables.

Comment

Who should pay for natural catastrophes?

Over the weekend, Harris County in Texas voted in favour of issuing bonds to pay for flood defences, a year after Hurricane Harvey caused terrible damage in the Houston region. It is part of a wider tussle over who bears the risk of catastrophes — and the capital markets are at the forefront of the discussion.
- 28 Aug 2018

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Bookrunners of Global Structured Finance

Rank	Lead Manager	Amount $m	No of issues	Share %
View full table For detailed analysis:
Last updated Today
1	Citi	117,261.12	337	11.09%
2	Bank of America Merrill Lynch	94,721.79	272	8.96%
3	JPMorgan	92,612.23	269	8.76%
4	Wells Fargo Securities	82,597.19	239	7.81%
5	Credit Suisse	69,442.99	183	6.57%

Latest awards

2016 US Securitization Awards: the winners

On Tuesday May 17, GlobalCapital held its third annual US Securitization Awards dinner at the Pierre Hotel in Manhattan.
- 19 May 2016

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

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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
View full table
1	BNP Paribas	14,443	29	18.07
2	Bank of America Merrill Lynch (BAML)	8,264	27	10.34
3	Lloyds Bank	7,329	24	9.17
4	Citi	6,748	19	8.44
5	JP Morgan	5,220	8	6.53

Bookrunners of Global Structured Finance

Rank	Lead Manager	Amount $m	No of issues	Share %
View full table For detailed analysis:
Last updated Today
1	Citi	117,261.12	337	11.09%
2	Bank of America Merrill Lynch	94,721.79	272	8.96%
3	JPMorgan	92,612.23	269	8.76%
4	Wells Fargo Securities	82,597.19	239	7.81%
5	Credit Suisse	69,442.99	183	6.57%