Top stories


Securitization Survey

  • Resi PACE issuers maneuver to navigate policy headwinds

    Residential Property Assessed Clean Energy (PACE) finance companies are looking to re-educate contractors and more directly market PACE to consumers in order to clear policy hurdles that have stifled origination volumes over the past year.

    • 17 Apr 2019
  • First non-UK European marketplace loan securitization prepped

    Younited Credit is preparing to issue the €156m Youni 2019-1, the first non-UK marketplace loan securitization to be sold in Europe.

    • 17 Apr 2019
  • Trinitas opts for CLO refi over reset

    A CLO reset caught in the crossfire while fourth quarter rates volatility ushered havoc into fixed income markets has at last been refinanced via arranger Natixis, which priced the deal earlier in the week.

    • 16 Apr 2019
  • Italian NPL supply likely to be down in 2019, but UTPs step forward

    Bank of America Merrill Lynch's securitization research team said that they expect Italy’s NPL issuance volumes for 2019 to be lower than last year’s levels, despite the renewal of the Garanzia Cartolarizzazione Sofferenze (GACS) scheme and provisions added to encourage securitization of unlikely to pay (UTP) assets.

    • 16 Apr 2019
  • Full plate for Nochu drives managers to pre-crisis deal structures

    CLO anchor investor Norinchukin Bank is said to be looking at a full calendar of deals in the next two months, leaving some managers not on the Japanese bank’s list planning to revive structures not seen since before the last crisis in a bid to drum up interest and improve the arbitrage function of their CLOs.

    • 16 Apr 2019
  • Voya, KKR CLOs best evaded post-crisis loan defaults

    In an analysis of CLO managers’ holdings of distressed loans since the financial crisis, a team of analysts at JP Morgan found that Voya and KKR were the top managers for selling loans that later became distressed at the highest spread versus their eventual recovery price.

    • 15 Apr 2019
  • Start II, Castlelake deals boost aircraft ABS volumes

    A pair of aircraft deals were priced last week during the the busiest single week for the ABS market since July 2018. Both transactions garnered considerable attention among securitization investors, pointing to high hopes aviation finance participants have for the sector in 2019.

    • 15 Apr 2019
  • S&P to ease CLO and CDO ratings methodology

    S&P Global Ratings has announced that it intends to recalibrate its CLO ratings tools to better account for years of performance data that show the firm’s models predicted more defaults than have occurred across CLO and CDO asset classes.

    • 15 Apr 2019
  • First Sonia RMBS prices with huge demand for STS paper

    Nationwide Building Society this week priced the first securitization benchmarked over Sonia, the UK’s alternative rate for sterling Libor. The Silverstone RMBS deal, which is also eligible for ‘simple, transparent, standardised’ regulatory treatment, was heavily subscribed by investors.

    • 15 Apr 2019
  • Rizwan Hussain-linked vehicle targets Merrill RMBS for £25m payout

    An investment vehicle linked to Rizwan Hussain, the controversial former banker who has tried to seize control of several pre-crisis securitizations, has claimed there is a ‘manifest error’ in an old Bank of America Merrill Lynch securitization — which, if corrected, would ensure £25m flows out of the deal.

    • 15 Apr 2019


The GlobalCapital View logo   Comment

more comment

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 30,859.27 98 11.48%
2 JPMorgan 25,558.51 72 9.51%
3 Wells Fargo Securities 24,627.51 67 9.16%
4 Bank of America Merrill Lynch 23,023.30 73 8.56%
5 Barclays 16,546.45 55 6.16%

Latest awards

Comments? Questions? Tips?

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

Subscriptions

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 3,237 10 19.12
2 Goldman Sachs 2,096 5 12.39
3 Morgan Stanley 1,965 5 11.61
4 BNP Paribas 1,686 6 9.96
5 Barclays 1,565 4 9.25

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 30,859.27 98 11.48%
2 JPMorgan 25,558.51 72 9.51%
3 Wells Fargo Securities 24,627.51 67 9.16%
4 Bank of America Merrill Lynch 23,023.30 73 8.56%
5 Barclays 16,546.45 55 6.16%