Latest News

  • MUFG hires new structured products head

    MUFG announced on Friday that it has hired Scott Rodman as managing director and head of structured solutions for the Americas.

    • 16 Mar 2018
  • Prytania to open New York office for ABS fund

    UK based structured finance firm Prytania Asset Management is looking to open a new office in New York in April, to support growing appetite for offshore US and European structured product offerings.

    • 15 Mar 2018
  • NPL action package has teeth — but not yet

    The European Central Bank (ECB) and the European Commission (EC) delivered a double whammy of non-performing loan (NPL) action this week, laying out how to amend bank capital rules to better deal with the problem and explaining how supervisors would treat loans going bad in future. Passing a credible package to deal with NPLs is a crucial step in getting northern member states comfortable with a full Banking Union.

    • 15 Mar 2018
  • BL Cards prices debut cards inside EDML

    Buy Way Personal Finance enjoyed solid demand for a tightly priced inaugural full capital stack credit card deal. Also the first cards deal from Belgium and Luxembourg, it was priced inside EDML 2018-1, a recent Dutch RMBS collateralised on secured loans.

    • 15 Mar 2018
  • Spire Partners planning new CLO debt fund

    UK CLO manager Spire is planning to launch a new open ended fund of around €200m-€300m that will invest in European CLO equity, debt and warehouse first loss positions.

    • 15 Mar 2018
  • Crédit Ag sheds EM loan risk to IFC, makes social loan promise

    The International Finance Corp and Crédit Agricole CIB have engaged in their second synthetic risk transfer (SRT) transaction. It continues the work both institutions have been doing to interweave such deals with socially responsible purposes.

    • 15 Mar 2018
  • Uber: no banks, no bother

    Uber’s self-syndicated leveraged loan is not just another example of big tech’s ambitious approach to the capital markets but a tribute to the hot credit markets that make these efforts fruitful.

    • 15 Mar 2018
  • Sprint spectrum bonds change hands in secondary

    A rare wireless spectrum deal from Sprint is already seeing secondary market action after being priced on Wednesday.

    • 15 Mar 2018
  • Citi combines structured finance syndicate

    Citi has recombined its European structured finance syndicate operation under Laura Coady, who becomes head of EMEA structured finance syndicate as well as keeping her existing role as head of Citi’s European primary CLO business. Garo Torossian, formerly head of EMEA residential mortgage distribution, joins Coady on the newly formed desk.

    • 15 Mar 2018
  • Supra adds to funding team

    A Washington supranational has added a capital markets veteran to its funding team.

    • 15 Mar 2018
  • ECB addendum addresses new NPLs

    The ECB has published an addendum to serve as guidance for all future non-performing loans. The measure is non-binding and will serve as the basis for dialogue between the ECB and the banks it regulates directly.

    • 15 Mar 2018
  • British Airways makes rare EETC run

    British Airways made a rare appearance in the Enhanced Equipment Trust Certificate (EETC) market on Wednesday with a dollar-denominated offering.

    • 14 Mar 2018
  • CMBS rally is long in the tooth, as market runs at double speed

    Morgan Stanley analysts wrote on Tuesday that the rally in CMBS is getting long in the tooth, though this has not halted appetite for new issuance, including a Blackstone-backed deal refinancing a loan secured on Chicago’s famed Willis Tower.

    • 14 Mar 2018
  • CarVal snaps up non-prime Signet credit card portfolio

    Global retailer Signet Jewelers has stepped up its plans to outsource its consumer lending programme, with an agreement to sell its remaining non-prime credit card portfolio with a par value of about $600m to CarVal Investors.

    • 14 Mar 2018
  • EC regulates on minimum coverage level for NPLs

    The European Commission has proposed a package of measures to tackle the European conundrum of non-performing loans; it includes a mandatory level of how banks must provision against these loans and their new EC determined definition.

    • 14 Mar 2018
  • Paratus AMC heads straight to market with RMAC refi

    Paratus AMC has gone to market immediately with a refinancing of the pre-crisis UK non-conforming RMBS in the RMAC series, which were called on Monday following a fraught battle with Clifden IOM No. 1, the hedge fund which had tendered for the deal in hopes of pushing more cash out to note holders.

    • 14 Mar 2018
  • Crédit Ag’s JV joins China auto ABS race

    GAC-Sofinco Auto Finance is preparing to sell a Rmb4bn ($633m) deal in the Chinese asset-backed securities market on March 20, set to be the third foreign name origination in three weeks.

    • 14 Mar 2018
  • US CLOs enjoy busiest ever start to the year

    More than $26bn of new issue CLOs have been priced in the year so far in the US, on top of $22.1bn of refinancing and reset deals as managers look to wring more returns from existing deals. The combined volumes in the first two months of the year are the highest in the CLO market’s 20-year history, said JP Morgan on Tuesday.

    • 13 Mar 2018
  • Funding Circle hires PayPal’s head of small biz lending

    The US arm of UK online small business lender Funding Circle has tapped PayPal’s Bernardo Martinez for US managing director.

    • 13 Mar 2018
  • US Steel out with high yield refi after Trump tariff boost

    US Steel was in the US high yield bond market on Tuesday, one week after announcing it would restart a steelmaking facility in Illinois in anticipation of a boost in demand as a result of US president Donald Trump slapping a 25% tariff on imported steel.

    • 13 Mar 2018
  • PACEfunding taps Natixis for debut ABS

    PACEfunding, a California-based residential Property Assessed Clean Energy (PACE) finance firm, has mandated Natixis to lead its first ever securitization.

    • 13 Mar 2018
  • IPTs out on full stack credit card deal BL Cards

    Lead managers have circulated initial price thoughts on BL Cards, an unusual credit card ABS backed by receivables from Belgium and Luxembourg that is selling a full capital structure.

    • 13 Mar 2018
  • Clifden preps ground for legal fight

    After losing its battle to add provisions to some of the bonds in the RMAC series of RMBS, forcing the deals to pay out extra cash to noteholders when called, fund Clifden IOM No. 1 has prepared the ground for legal action on the controversial trade.

    • 13 Mar 2018
  • OnDeck appoints CIT exec to CFO

    Online small business lender OnDeck announced that Ken Brause will be taking over as chief financial officer effective March 26.

    • 13 Mar 2018
  • Toys ‘R’ Us, Bon-Ton under credit spotlight

    Toys ‘R’ Us is discussing with investors the outlook for the company on Monday — with a restructuring proving elusive, there is talk of liquidating the company, which would be a blow to unsecured lenders.

    • 12 Mar 2018

More Securitization

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
  • 15 Mar 2018
1 Citi 21,508.91 55 12.80%
2 Bank of America Merrill Lynch 19,936.86 52 11.86%
3 Wells Fargo Securities 15,619.02 45 9.29%
4 JPMorgan 12,136.94 40 7.22%
5 Credit Suisse 10,224.78 18 6.08%