Top stories

  • Surging market puts ABS East over the top, with nearly 5,000 expected

    A booming securitization market and a last minute pop in registrations will bring nearly 5,000 ABS market pros to Miami Beach for this year’s ABS East conference, as attendees look to get the pulse of an aging credit cycle and an outlook on what to expect as the market nears its peak.

    • 06:30 PM

  • Loan downgrades may tie managers’ hands in next downturn, say panellists

    CLO managers have long highlighted their ability to generate investor returns by actively managing their portfolios during market downturns, but that may be harder to do during the next slump because of deteriorating loan underwriting, said panellists at IMN’s ABS East conference on Sunday.

    • 06:45 PM
  • US ABS investors add Fed unwinding, tax reform to list of issues

    While the ABS markets have continued to build momentum each year since the financial crisis, investors are seeing a mix of good and bad on the horizon as capital flows extensively into burgeoning corners of the market and the Federal Reserve continues apace with its normalization of monetary policy.

    • 06:45 PM
  • Demand for aggressive buyout debt routs covenant defence

    Leveraged finance investors in the US and Europe have scrambled for the bonds and loans backing leveraged buyouts of Thomson Reuters’ Financial & Risk business and Dutch chemical company AkzoNobel this week, with demand driving pricing tighter despite aggressive covenant packages. David Bell and Victor Jimenez report.

    • 20 Sep 2018
  • Bank funding plans point to uptick in euro ABS issuance

    European banks are forecasting a 6.2% increase in total assets over the coming three years and expect to fund some of that growth with more secured debt sales, according to the results of a European Banking Authority (EBA) survey published this week.

    • 20 Sep 2018
  • US MBS investors await year end flurry with caution

    Private label RMBS is set to have its busiest year ever since the financial crisis. But investors are only cautiously welcoming the upswing in volumes, which is being driven by new kinds of mortgage credit backed by a broader range of borrowers.

    • 19 Sep 2018
  • Former co-head of BlackRock CLO biz joins Tetragon

    Scott Snell, former co-head of BlackRock’s US CLO business, has joined Tetragon Credit Income (TCIP) as a CLO portfolio manager, with the firm planning to expand the range of its investments in CLOs.

    • 19 Sep 2018
  • Aussie issuer mulls euro tranche for RMBS

    Australian mortgage lender Liberty Financial is marketing its latest prime RMBS deal — Liberty 2018-3 — and is looking to drum up interest for a euro denominated tranche to be included in the capital structure.

    • 19 Sep 2018
  • Trio of new RPL deals puts pressure on tightening trend

    Senior re-performing loan (RPL) RMBS spreads have tightened by 4bps to 73bps over swaps in the last week, according to Wells Fargo data, their tightest level since mid-June. But a flurry of new deal activity has the potential to push spreads back out, giving the buy side some room on pricing.

    • 18 Sep 2018
  • NY Fed winds down last of Bear Stearns bonds

    The Federal Reserve Bank of New York said on Tuesday it had completed the sale of the remaining securities in the $30bn Maiden Lane LLC portfolio of mortgage securities it bought to facilitate JP Morgan’s acquisition of Bear Stearns in March 2008.

    • 18 Sep 2018
  • MBS markets steady despite hurricane headwinds

    Hurricane Florence is giving MBS investors some jitters after last year’s damaging hurricane season, but the markets are holding up, despite risks posed to the bonds by natural disasters.

    • 17 Sep 2018


The GlobalCapital View logo   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 %
  • Last updated
  • Today
1 Citi 94,444.52 266 11.16%
2 Bank of America Merrill Lynch 79,057.17 220 9.35%
3 Wells Fargo Securities 69,655.75 196 8.23%
4 JPMorgan 69,110.65 196 8.17%
5 Credit Suisse 56,930.26 144 6.73%

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Max Adams
Securitization Editor
+1 212 224-3293
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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
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George Williams
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george.williams@globalcapital.com

 

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 94,444.52 266 11.16%
2 Bank of America Merrill Lynch 79,057.17 220 9.35%
3 Wells Fargo Securities 69,655.75 196 8.23%
4 JPMorgan 69,110.65 196 8.17%
5 Credit Suisse 56,930.26 144 6.73%