Top stories


Securitization Survey

  • Marketplace lenders make flight to quality as recession fears grow

    Online lenders are shifting towards higher quality borrowers as concerns over a recession in the near term increase.

    • 20 May 2019
  • Second CMBS 2.0 default points to struggling UK retail sector

    A post-crisis CMBS loan tied to a UK retail property has defaulted, only the second CMBS 2.0 default seen to date, pointing to continued weakness in the retail sector.

    • 20 May 2019
  • Clydesdale moves to STS and Sonia for new Lanark deal

    Clydesdale Bank has mandated BNP Paribas, Bank of America Merrill Lynch, Citi and Lloyds for it Lanark 2019-2 UK RMBS offering. The multi-currency deal will comply with the ‘simple, transparent and standardised’ (STS) regulation and include a Sonia-linked sterling tranche.

    • 20 May 2019
  • European pipeline bulges with trio of new deals

    The new issue pipeline in Europe is showing no sign of slowing down following what was one of the busiest weeks of the year so far, as issuers tee up three new deals, including the first public auto ABS to be issued by Mercedes-Benz in Italy.

    • 20 May 2019
  • US CLO portfolio quality in decline since winter selloff, says Wells

    A team of researchers at Wells Fargo led by David Preston said in a webcast on Friday that managed CLO portfolios saw a decline in quality as managers in aggregate failed to build par and bought lower credit quality loans.

    • 17 May 2019
  • Credit enhancement on the decline in marketplace loan ABS deals

    Credit enhancement levels have been shrinking meaningfully in ‘A’ rated notes of frequent marketplace loan ABS issuers since 2017, according to Fitch Ratings research published this week.

    • 17 May 2019
  • BAML makes switch to Sonia with new RMBS mandate

    Bank of America Merrill Lynch has been mandated for a new UK RMBS transaction for specialist lender Precise Mortgages, with all tranches on offer referencing the sterling overnight index average (Sonia).

    • 17 May 2019
  • Resurgent CMBS market no help for latest Blackstone deal

    The European CMBS market has defied its ineligibility for the European Securities and Markets Authority's (ESMA) new ‘simple, transparent and standardised’ (STS) securitization framework intended to boost confidence in the market. The asset class that appeared dead and buried after the financial crisis has outpaced other asset classes in recent times. But the resurgence did not stop one deal this week from suffering heavy investor scrutiny, writes Tom Brown.

    • 16 May 2019
  • JP Lease prices debut aviation deal

    JP Lease has completed a $553.65m aircraft lease securitization backed by a portfolio comprising newer, liquid aircraft with long remaining lease terms.

    • 16 May 2019
  • Credit card delinquencies pile up for younger borrowers

    Credit card delinquency rates are increasing as user demographics shift to include a higher percentage of younger consumers, according to data from the Federal Reserve.

    • 15 May 2019


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Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 40,734.72 129 11.29%
2 JPMorgan 32,938.92 93 9.13%
3 Wells Fargo Securities 30,907.51 87 8.57%
4 Bank of America Merrill Lynch 27,917.30 88 7.74%
5 Credit Suisse 22,890.32 71 6.35%

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Max Adams
Securitization Editor
+1 212 224-3293
max.adams@globalcapital.com
Alexander Saeedy
US Reporter
+1 212 224-3292

alexander.saeedy@globalcapital.com

Jennifer Kang

US Reporter
+1 212 224-3297
jennifer.kang@globalcapital.com

Tom Brown

European Reporter

+44 207 779 8602

tom.brown@globalcapital.com

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

Phil Huntsman
+1 212 224-3294
phil.huntsman@globalcapital.com

 

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,691 11 20.70
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.78

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 40,734.72 129 11.29%
2 JPMorgan 32,938.92 93 9.13%
3 Wells Fargo Securities 30,907.51 87 8.57%
4 Bank of America Merrill Lynch 27,917.30 88 7.74%
5 Credit Suisse 22,890.32 71 6.35%