Copying and distributing are prohibited without permission of the publisher
Wrapping up leasing
01 July 2007
How much capacity do monoline insurers have for wrapping capital markets deals?
Read more:
Assured Guaranty
FGIC
Ambac
Merrill Lynch
Pegasus
Airfinance Journal: Let's start with the big question. There is about $8 billion-worth of deals out there, how much capacity do you guys really have?
Scott Weiss, senior vice-president, capital markets, Pegasus: That was certainly going to be my question. As a lessor I am wondering whether they will be enough.
Ken Degen, managing director, FGIC: I have always been the one publicly saying that issuers should be cautious because there is not much capacity out there. Not long ago Braunstein and I were the only participants in the aviation business, but obviously with new entrants, that's changed. I think there's more capacity out there, but whether there's $8 billion, I don't know. There certainly is more capacity now than there was two years ago.
Peter Cardinale, director, structured finance, FGIC: I think that capacity is also a function of [asset] performance. Since monolines need to optimize their capital, this...
Access to this content is denied because you are not logged in. Please login to view this content
Already have an account?
Subscribe
Subscribers have unlimited access to all current and archive content. Start your
subscription today - click on the button below.
Free trial
Taking a free trial will give you access to the current issue for two weeks (excluding
some surveys and articles). Start your free trial today.
