Top stories
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Clifden rebuffed in attempt to appoint Fairhold administrator
Clifden IOM, the fund which failed in its tender offer for UK non-conforming RMBS bonds from the RMAC series earlier this year, is still on the hunt for assets from the issuer of Fairhold Securitisation, a pre-crisis distressed CMBS backed by UK ground rents.
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Citing Kavanaugh dissent, US Court of Appeals rules FHFA is unconstitutional
A divided panel of three appellate judges ruled late on Monday that the organization of the Federal Housing Finance Agency (FHFA), which oversees US mortgage giants Fannie Mae and Freddie Mac, violates the spirit of the US Constitution.
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Money360 markets first CRE CLO as new kids on the block muscle in
Money360, a smaller commercial real estate lender, is joining a number of new issuers who are securitizing floating rate bridge and transitional loans.
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Tight arb, Libor mismatch take chunk out of CLO equity
US CLO equity returns have dropped compared to previous years, but the trade is still outpacing the rest of the fixed income market and should improve, sell-side analysts said this week.
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ABS crucial for fintech financing as industry matures
As the financial technology and the online lending market comes of age, some of the biggest players are increasingly reliant on securitization as a way of raising capital, according to a report issued by Deloitte and LendIt on Tuesday.
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German asset manager preps new CLO, ABS fund
Union Investment, a fund manager headquartered in Frankfurt and majority owned by DZ Bank, announced on Tuesday the launch of a new fund for institutional clients focussed mainly on CLO investments.
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US banks edge back from CRE lending as competition steepens
As construction costs continue to rise and interest rates tick higher, a number of US banks are reporting that they are mulling a step back from commercial real estate.
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Soybean-fuelled trade woes could impact latest equipment ABS
Farm equipment manufacture John Deere is issuing an $861.5m asset-backed securitization as the first shots fired in the US-China trade war rattle the agriculture industry.
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Cerberus weighs options for Auburn 9 RMBS pool
A regulatory filing last week announced that Cerberus Capital Management is exploring options for Auburn 9 — a UK buy-to-let RMBS sold in 2015 — and is ‘considering’ a sale of the entire mortgage portfolio before the next interest payment period in August.
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Auto issuers hit the gas, buckle up for trade war
A pair of auto ABS deals from Ford Motor Company and OneMain Financial are about to hit the market as President Donald Trump’s trade policy threatens a bumpy ride ahead for US car manufacturers.
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Investcorp eyes push into middle market, other CLO debt
Investcorp Credit Management is looking to expand its footprint in US secured corporate loans, with middle market credit and the CLO debt of other credit managers’ both targets, according to the firm’s head of US credit.
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.
Latest ABS news
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Latest CLO/CDO news
Latest securitization people & markets news
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Comment
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Secrecy is not an option
A panel on gender parity in the workplace, hosted by Women’s Energy Network (WEN) last Wednesday in New York, pulled no punches in demanding that Wall Street stop hiding behind a culture that uses settlements to deal with sexual misconduct.
Bookrunners of Global Structured Finance
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 70,706.73 | 201 | 11.49% |
| 2 | Bank of America Merrill Lynch | 60,472.76 | 166 | 9.83% |
| 3 | JPMorgan | 48,700.30 | 139 | 7.92% |
| 4 | Wells Fargo Securities | 48,082.68 | 138 | 7.82% |
| 5 | Credit Suisse | 38,376.65 | 95 | 6.24% |
Latest awards
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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.
Comments? Questions? Tips?
Max AdamsSecuritization Editor
+1 212 224-3293
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
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Bank Profiles
Latest news by market and league table performance
GlobalCapital European securitization league table
| Rank | Lead Manager/Arranger | Total Volume $m | No. of Deals | Share % by Volume |
|---|---|---|---|---|
|
||||
| 1 | BNP Paribas | 10,542 | 20 | 18.00 |
| 2 | Bank of America Merrill Lynch (BAML) | 6,103 | 21 | 10.42 |
| 3 | Citi | 5,130 | 13 | 8.76 |
| 4 | JP Morgan | 4,681 | 6 | 7.99 |
| 5 | Lloyds Bank | 3,389 | 13 | 5.79 |
Bookrunners of Global Structured Finance
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 70,706.73 | 201 | 11.49% |
| 2 | Bank of America Merrill Lynch | 60,472.76 | 166 | 9.83% |
| 3 | JPMorgan | 48,700.30 | 139 | 7.92% |
| 4 | Wells Fargo Securities | 48,082.68 | 138 | 7.82% |
| 5 | Credit Suisse | 38,376.65 | 95 | 6.24% |
