Editors' picks for theweek include Wells Fargo Securities ranking first in the insurance debt offeringsleague table and U.S. Bank NA issuing a notice of default to Tower Group Inc. ondebt breaches.
1. Smaller deepsubprime lenders seeing big coupons on junior ABS notes
Terms of a recently completed subprime auto loan securitizationsuggest a persistence of the "flightto quality" that emerged in the asset class earlier this year.
2. Goldman leadsfintech, specialty finance rankings with billion-dollar deals in Q2
Goldman Sachs &Co.'s role on IMS HealthHoldings Inc.'s $9 billion pending purchase of QuintilesTransnational Holdings Inc. helped the investment bank top the M&Afinancial adviser league table ranking in the financial technology space for thefirst half of 2016, according to SNL Financial data.
3. Wells FargoSecurities cements lead in insurance debt offerings in Q2'16
Wells Fargo SecuritiesLLC ranked first by deal credit in the insurance underwriters and brokersdebt offerings league table for the first half of 2016 after serving on 16 offeringsduring the second quarter, according to SNL Financial data.
4. Financial servicesIPO market stirs in Q2
The financial services IPO market showed signs of life duringthe second quarter with several investment banks participating in deals.
5. Trustee issuesnotice of default regarding certain Tower Group TruPS
Trustee U.S. BankNA on June 30 issued a notice of default to Tower Group Inc., allegingcovenant breaches on debt referencing certain trust preferred securities.
SNL Financial isan offering of S&P Global Market Intelligence.