Top stories


  • ABS pipeline flush with mix of consumer and esoteric deals

    With the annual SFIG conference just around the corner, a wide variety of deals across auto, aircraft and student loans ABS were priced this week. Year to date ABS issuance volume now stands at $39.79bn, most of which comprises auto transactions.

    • 21 Feb 2019
  • Volkswagen taps UK auto ABS as car sales decline

    Volkswagen Financial Services UK is launching a new auto ABS transaction from its UK master trust programme for approximately £500m at a time when both used and new UK car sales have started to decline. Crédit Agricole Corporate and Investment Bank is acting as arranger and lead manager.

    • 21 Feb 2019
  • FMO securitizes to help migrant entrepreneurs

    FMO, the Dutch development bank, is constructing an innovative programme using synthetic securitization techniques to finance entrepreneurs from Africa, the Middle East and eastern Europe.

    • 21 Feb 2019
  • FRTB rule still has bite after Basel revises risk weights

    JP Morgan researchers on Wednesday flagged the finalized Fundamental Review of the Trading Book (FRTB) rule as only slightly less problematic for securitized products dealers than the original version published by the Basel Committee in 2014, stating that capital requirements were still too burdensome and could lead to whole sectors experiencing a drop in issuance.

    • 20 Feb 2019
  • FOMC discusses MBS runoff, skirts responsibility for vol

    The Federal Reserve grabbed market participants' attention on Wednesday as it released the minutes of its most recent Federal Open Market Committee meeting, held from January 29-30, in which members agreed to pause rate rises and the central bank's balance sheet reduction.

    • 20 Feb 2019
  • Auto deals dominate midweek ABS pipeline

    A trio of auto ABS deals from CIG Financial, Honda and American Car Center were priced this week, contributing around $1.6bn to consumer ABS issuance.

    • 20 Feb 2019
  • Prepayment differentials low in lead up to UMBS

    Prepayment speeds for agency MBS issued by the US government sponsored enterprises (GSEs) were similar to one another in the fourth quarter, reflecting how a push for aligned underwriting at the GSEs appears to be bearing fruit in the months before the UMBS debuts.

    • 20 Feb 2019
  • JPM’s chief regulatory officer and Sofr architect to retire

    Sandra O’Connor, chief regulatory officer at JPMorgan Chase, is retiring from the firm on April 1, according to an internal memo seen by GlobalCapital.

    • 20 Feb 2019
  • Ares brings European CLO as secondary tightens

    A new euro CLO from Ares is in the pipeline, with Citi acting as manager and the triple-A notes preplaced, while spreads in the ABS secondary market continue to grind tighter.

    • 20 Feb 2019
  • Soft CLO market lures investors with split tranches

    Eleven CLOs were priced last week, marking the busiest week so far this year, but with wider spreads across the board and tranches in some deals split into fixed and floating components to appease some investors, sources said that the CLO market has yet to find its footing in 2019.

    • 19 Feb 2019


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 12,356.92 41 13.22%
2 Bank of America Merrill Lynch 10,716.42 32 11.47%
3 Barclays 8,716.58 27 9.33%
4 JPMorgan 7,774.38 29 8.32%
5 Wells Fargo Securities 7,444.83 29 7.97%

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Max Adams
Securitization Editor
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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
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george.williams@globalcapital.com

 

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) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 12,356.92 41 13.22%
2 Bank of America Merrill Lynch 10,716.42 32 11.47%
3 Barclays 8,716.58 27 9.33%
4 JPMorgan 7,774.38 29 8.32%
5 Wells Fargo Securities 7,444.83 29 7.97%