Latest Securitization People & Markets news
End of year earnings calls at the US banks all featured anxieties about the exposure of the firms to a leveraged finance market that was looking increasingly stretched through year end, with some bridges said to be hung and discounts offered on risk positions.
Larry Fink, chief executive of BlackRock, became one of the most namechecked people in the responsible investing movement in 2018 when he affirmed that “Companies must benefit all of their stakeholders, including shareholders, employees, customers and the communities in which they operate.”
The European Central Bank has slapped the institutions under its supervision with deadlines for dealing with their stocks of non-performing loans, giving the weakest lenders up to 2027 to raise their coverage levels to 100%. The revelation hit Italian banks hard in the market this week, though some commentators said that the new recommendations should hardly have come as a shock to investors.
Japanese regulators will implement risk retention rules for securitization at the end of March. The Financial Services Agency is leaning towards the 'eligible vertical interest' model as a solution to allow investors to access both European and US markets.
Barclays is on the road this week with a CLO that it is looking to sell this quarter for Credit Suisse Asset Management.
EU banks have drastically reduced their non-performing exposures over the past year, and the weakest lenders in terms of provisioning shortfalls are not from Europe’s periphery, according to research by Axiom Alternative Investments. However, two banks named as some of the worst performers disagreed with this label.
Greenwich, Connecticut based Wellfleet Credit Partners, the performing credit business of Littlejohn & Co, has promoted Dennis Talley and Scott McKay to managing director with a focus on CLOs.
Kensington Mortgages has renewed a warehouse line of credit with BNP Paribas and Citibank, giving it the ability to fund nearly £1bn worth of new originations.
Capital markets veteran Sandeep Agarwal speaks to GlobalCapital about his decision to leave the sector after a period of more than 20 years, reflecting on what he describes as the "best learning experience" he could have asked for following the financial crisis. As he prepares for a new challenge outside of banking, Agarwal warns that the industry is not "out of the woods yet".
A handful of prime UK RMBS deals are rumoured to be in the pipeline, along with several prime euro transactions, with issuers said to be targeting US investors while they wait for the fog to clear around new ‘simple, transparent, standardised’ (STS) rules.
Maintaining confidence in the system relies on trust that leaders — those selected for their competence and character to set the course for the rest of us — are well informed, able to communicate with others at their level and take decisions that serve the interests of those they lead.
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.
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Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|2||Bank of America Merrill Lynch (BAML)||10,179||30||11.23|