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| Leading bookrunners of asset-backed Euromarket issues |
| Rank |
Bookrunner |
$bn |
| 1 |
Credit Suisse First Boston |
12.7 |
| 2 |
Deutsche Bank |
9.1 |
| 3 |
Lehman Brothers |
5.5 |
| 4 |
Merrill Lynch |
3.9 |
| 5 |
Goldman Sachs |
3.0 |
| 6 |
HypoVereinsbank |
2.6 |
| 7 |
Nomura |
2.4 |
| 8 |
Société Générale |
1.9 |
| 9 |
Morgan Stanley |
1.7 |
| 10 |
JP Morgan |
1.1 |
| Source: Capital Data Bondware, January to June 1999 |
Of all the growing asset classes in the European capital markets, asset-backed finance has been one of the most hyped. In the US it is a mature market where the culture of consumer credit and a large amount of non-bank mortgages provide ample revenue streams for securitization, but issuer and investor interest elsewhere has been lacking.
Until now. Changes in legislation, changes in...
