Valeant loan investors steadfast despite Ackman sell-off

Leveraged debt investors are not quite ready to retreat from their position in Canadian drug maker Valeant Pharmaceuticals, despite long-term advocate Bill Ackman abandoning his holding in the company on Monday.

  • By Sam Kerr
  • 15 Mar 2017

Ackman’s Pershing Square Capital Management sold its position in the company on March 13, adding to the woes of the CLO market’s largest obligor. It is reported that the fund took a $4bn loss on its stake in the company.

While the stock continues to plummet, trading at ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

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) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 99,251.11 279 13.15%
2 Bank of America Merrill Lynch 90,895.27 265 12.04%
3 Wells Fargo Securities 72,661.39 222 9.63%
4 JPMorgan 52,367.24 169 6.94%
5 Credit Suisse 41,885.89 127 5.55%