Top stories

  • Paratus threatens legal action to thwart RMAC tender offer

    Paratus AMC, the originator of the RMAC series of UK non-conforming RMBS bonds, has hit back at hedge fund Clifden IOM No.1’s attempt to seize control of the deals, hinting ominously at potential legal action. It is the latest chapter in a vicious tussle between the two entities for the right to gain control of the underlying mortgage collateral.

    • 21 Feb 2018

  • European securitization veterans launch research boutique

    Two veterans of the European securitization market have launched an independent structured finance research firm, Integer Advisors. It issued its first mailout on Tuesday, covering the European Banking Authority's public hearings on securitization held on Monday.

    • 21 Feb 2018
  • Sprint to issue $1bn HY bond, clarifies ABS legal confusion

    Wireless carrier Sprint mandated banks for a new $1bn eight year high yield bond on Tuesday. The company also clarified that its outstanding spectrum-backed ABS bonds do not conflict with covenants on its existing high yield bonds, ahead of anticipated new slug of paper from the securitization shelf.

    • 20 Feb 2018
  • CLO credit quality could weaken without risk retention, says Morgan Stanley

    Morgan Stanley analysts described the potential rollback of risk retention rules for US CLO managers was a “modest positive” for the market on Tuesday, adding $10bn to their 2018 issuance forecast, but they warned that credit quality could suffer in new deals because of the scarcity of leveraged loans.

    • 20 Feb 2018
  • PeerIQ, Cross River Bank launch loan buying service

    Marketplace lending data company PeerIQ and Cross River Bank announced a partnership on Tuesday to launch a loan buying service for banks and institutional investors looking to access the online lending sector.

    • 20 Feb 2018
  • Clifden beefs up tender in last-ditch attempt to stop RMAC call

    Clifden IOM Holdings has beefed up its tender offer for several pre-crisis non-conforming RMBS issues, in a last-ditch attempt to fend off the redemption of the bonds by their originator. With the hedge fund offering 105, investors have every reason to hit the bid, but the clock is ticking, as the originator has already activated the call.

    • 20 Feb 2018
  • Australia’s mortgage proposals to improve bank credit risk, says Moody's

    Revisions of mortgage risk weights proposed by the Australian Prudential Regulation Authority are credit positive for the country’s banks. The revision may result in a higher composition of riskier loans in prospective capital relief RMBS trades, according to Moody’s.

    • 20 Feb 2018
  • Obvion drops call for extra-long Storm RMBS

    Obvion placed an ultra-long European residential mortgage-backed security on Thursday, dropping the usual five year call from its Storm prime mortgage shelf, and extending the weighted average life of the notes over 10 years.

    • 19 Feb 2018
  • 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 splits risk transfer market

    Premier Oil’s restructuring last year was a test for the risk transfer market, as the different synthetic securitizations exposed to the troubled firm reacted 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


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

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Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 13,091.24 36 12.97%
2 Wells Fargo Securities 9,312.78 29 9.23%
3 JPMorgan 9,090.89 29 9.01%
4 Bank of America Merrill Lynch 8,898.12 26 8.82%
5 Credit Suisse 4,676.43 10 4.63%

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Max Adams
Securitization Editor
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Sasha Padbidri
New York Reporter
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Graham Bippart

European Securitization and Fixed Income Editor
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graham.bippart@globalcapital.com


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Mark Goodes
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George Williams
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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 13,091.24 36 12.97%
2 Wells Fargo Securities 9,312.78 29 9.23%
3 JPMorgan 9,090.89 29 9.01%
4 Bank of America Merrill Lynch 8,898.12 26 8.82%
5 Credit Suisse 4,676.43 10 4.63%