Top stories
-
CLO resets needed to build ‘runway’ for downturn: Eagle Point
Tom Majewski, CEO of US CLO equity investment firm Eagle Point, said on Tuesday that the firm was focused on resetting existing CLOs in which it held majority equity positions in order to improve the arbitrage in the structures and also build “runway” for the company to benefit from when the loan market eventually suffers a downturn.
-
Are shifting consumer habits squeezing structured finance?
As Americans across generations, and specifically younger cohorts, delay major life events such as marriage, rent their homes over owning them, shun office life and generally upend the behaviors that defined past generations, the engines that drive US structured finance have slowed. GlobalCapital investigates.
-
Fitch sounds off on poor methodology, ratings shopping in RMBS
Once dominated by the 'big three' agencies, the RMBS ratings industry has welcomed new entrants into the market after the financial crisis tarnished incumbents' reputations. But Fitch Ratings is telling investors this week to be wary of the competition.
-
Strong euro securitization pipeline seen for September
Securitization bankers are expecting a strong issuance pipeline following the summer lull, with issuers said to be looking further ahead and planning their funding and capital structures more carefully than in the past. Issuers said to be scoping the market include Virgin Money, and NewDay credit cards.
-
CMBS players unfazed by growing macro headwinds
Analysts at Bank of America Merrill Lynch argued on Monday that a tide of pressures — a flattening yield curve, trade wars and ballooning corporate bond issuance — will soon turn against the CMBS market. But some players in the sector claim the macro narrative is well overplayed.
-
Payment receivables deals give Turkish banks hard currency lifeline
Diversified payment receivables securitizations, a deal structure used extensively by Turkey’s big banks, could be a vital route to help these institutions access more hard currency term funding, as the crisis in the country deepens. But these deals have increasingly relied on development institutions in recent years, rather than private demand.
-
Diamond Resorts set to issue timeshare ABS
Diamond Resorts is issuing a $300m securitization backed by timeshare loans.
-
BAML securitization outlook turns bearish
Bank of America Merrill Lynch analysts turned bearish on securitization markets this week, saying that the growing US-China trade war and a flatter US Treasury curve were strong reasons to start taking risk off the table.
-
Freddie Mac seasoned CRT, Starwood flagship RMBS deals price
A number of non-agency RMBS deals were priced at the end of last week, including private label deals from Starwood and Redwood and a seasoned credit risk transfer (CRT) deal from Freddie Mac.
-
US levfin volumes jump after strong earnings season
Both the US high yield and leveraged loan markets absorbed a flurry of deals at the end of last week, after second quarter results painted a strong picture for corporate earnings.
-
Judge swats down Clifden’s ‘unprincipled asset grab’
Instead of acting as the saviour of note holders of a distressed pre-crisis CMBS, Clifden IOM’s recent actions were an attempt to profit from the hurriedly arranged appointment of a deal administrator for the Fairhold transaction. It was an ‘unprincipled asset grab’ a High Court Judge told the court on Friday.
-
GSEs inch closer to single securitization platform
Fannie Mae and Freddie Mac, the government-sponsored enterprises at the heart of US housing finance, are less than a year away from launching a common securitization platform that will rebalance the market to make a more level playing field for their respective securities.
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
Latest RMBS news
Latest CMBS news
Latest CLO/CDO news
Latest securitization people & markets news
Latest Asia securitization news
Comment
-
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 | 80,818.31 | 235 | 11.57% |
| 2 | Bank of America Merrill Lynch | 66,338.04 | 186 | 9.50% |
| 3 | Wells Fargo Securities | 56,344.19 | 164 | 8.07% |
| 4 | JPMorgan | 53,381.65 | 156 | 7.64% |
| 5 | Credit Suisse | 44,872.46 | 115 | 6.43% |
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.
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
Subscriptions
Mark Goodes+44 (0)207 779 8605
mark.goodes@globalcapital.com
George Williams
+44 (0)207 779 8274
george.williams@globalcapital.com
Want full access to GlobalCapital?
If you are new to GlobalCapital or you already subscribe to some of our channels you can still easily extend your access.
Take a trial to the entire site or subscribe online to see all our capital markets news, opinion and data sets.
Don't miss out!
Free trial
Latest Issue
Read the magazine on your mobile device
Most Viewed: Securitization
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 | 17.55 |
| 2 | Bank of America Merrill Lynch (BAML) | 6,103 | 21 | 10.16 |
| 3 | Citi | 5,130 | 13 | 8.54 |
| 4 | JP Morgan | 4,681 | 6 | 7.79 |
| 5 | Morgan Stanley | 4,137 | 11 | 6.89 |
Bookrunners of Global Structured Finance
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 80,818.31 | 235 | 11.57% |
| 2 | Bank of America Merrill Lynch | 66,338.04 | 186 | 9.50% |
| 3 | Wells Fargo Securities | 56,344.19 | 164 | 8.07% |
| 4 | JPMorgan | 53,381.65 | 156 | 7.64% |
| 5 | Credit Suisse | 44,872.46 | 115 | 6.43% |
