| MANAGER ACTIVITY | ||||
| Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
| STUDENT LOAN ABS | ||||
| Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
| Banc of America Securities LLC | 3,134.2 | 1 | 18.9 | 4 |
| Morgan Stanley | 2,757.6 | 2 | 16.6 | 3 |
| Citigroup | 2,230.0 | 3 | 13.4 | 4 |
| Credit Suisse First Boston | 2,196.2 | 4 | 13.2 | 3 |
| Deutsche Bank AG | 1,483.8 | 5 | 8.9 | 3 |
| UBS | 1,447.2 | 6 | 8.7 | 3 |
| Lehman Brothers | 1,012.4 | 7 | 6.1 | 1 |
| JP Morgan | 983.8 | 8 | 5.9 | 2 |
| Goldman Sachs & Co | 806.2 | 9 | 4.9 | 2 |
| Merrill Lynch & Co Inc | 550.3 | 10 | 3.3 | 1 |
| Industry Total | 16,601.7 | – | 100.0 | 13 |
| Source: Thomson Financial | ||||
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Portfolio managers expect spike in defaults, wider spreads
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PennyMac’s first all-investment property RMBS raises $298.1 million
Classes A1 through A3, which is composed of seven tranches, are expected to pay coupons of 6.39%.
