Top stories


  • Demand for Dilosk RMBS paves way for BTL deal

    In a week with just one new issue euro ABS announcement — a Spanish small and medium-enterprise (SME) CLO — investors piled into specialist lender Dilosk’s Irish retail mortgage backed security (RMBS). Pricing of the deal at the tight end of guidance will open the door for the lender to step into the buy-to-let RMBS market in 2019, executives say.

    • 08 Nov 2018
  • FHFA issues 2019 agency lending guidance

    The Federal Housing Finance Authority (FHFA) published guidance on multifamily lending caps for Fannie Mae and Freddie Mac on Tuesday, limiting the total amount of loans that they can buy next year to $35bn each.

    • 07 Nov 2018
  • Apollo adds CMBS carveout to LifePoint high yield bonds

    The high yield bonds being issued to support Apollo’s acquisition of hospital group LifePoint Health include carve-outs that allow the private equity firm to pay itself dividends by securitizing LifePoint’s property and equipment without falling foul of additional debt and restricted payments covenants.

    • 07 Nov 2018
  • AXA charges into US commercial real estate debt

    AXA Investment Managers, a unit of the French insurer, has announced that it is acquiring a business line owned by Quadrant Real Estate Advisors and will assume management of $9.4bn of US commercial mortgage loans.

    • 07 Nov 2018
  • Kroll hired to rate first CLO transaction

    Kroll Bond Rating Agency has won a mandate for its first CLO rating, after hiring staffers from S&P Global and Goldman Sachs earlier this year to break into the booming corner of the securitization market.

    • 07 Nov 2018
  • Fairhold saga continues with new Court hearing to ‘restrain’ Clifden

    Attempts to divert the assets of distressed UK CMBS Fairhold to an affiliate of hedge fund Clifden IOM looked to be over in August when the issuer and note trustee Global Loan Agency Services (GLAS) convinced a judge that Clifden’s actions amounted to an ‘unprincipled asset grab’. But Clifden’s behaviour since that ruling has prompted yet another court hearing.

    • 07 Nov 2018
  • Wells Fargo erroneously foreclosed on 545 borrowers, quarterly filings reveal

    Tucked away in Wells Fargo’s third quarter filings with the Securities and Exchange Commision was news that the bank incorrectly denied 870 loan modifications and wrongly foreclosed on 545 agency borrowers between 2010 and 2015. The news is yet another blemish on Wells Fargo's customer service record.

    • 06 Nov 2018
  • NatWest Markets mandated on debut Spanish SME CLO

    The transaction, Alhambra SME Funding 2018-1, comprises sub-investment grade senior secured and unsecured loans to Spanish SMEs and mid-caps originated by Be-Spoke Capital (Ireland) Ltd.

    • 06 Nov 2018
  • Analysts predict US high yield rebound

    Some US high yield analysts have said markets “oversold” last week and are expecting spreads to rebound after they slipped to their widest level in a year.

    • 06 Nov 2018
  • FCA warns on equity release mortgage boom

    Chris Woolard, executive director of strategy and competition at the UK’s Financial Conduct Authority, has warned mortgage bankers about the explosive grow in the lifetime mortgage section of the market — a move driven partly by regulatory changes for the UK’s life insurers.

    • 06 Nov 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 117,261.12 337 11.10%
2 Bank of America Merrill Lynch 94,723.52 272 8.97%
3 JPMorgan 92,612.23 269 8.77%
4 Wells Fargo Securities 82,597.19 239 7.82%
5 Credit Suisse 69,442.99 183 6.57%

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Max Adams
Securitization Editor
+1 212 224-3293
max.adams@globalcapital.com

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
+44 (0)207 779 8274
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 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 117,261.12 337 11.10%
2 Bank of America Merrill Lynch 94,723.52 272 8.97%
3 JPMorgan 92,612.23 269 8.77%
4 Wells Fargo Securities 82,597.19 239 7.82%
5 Credit Suisse 69,442.99 183 6.57%