Pramerica CLO guidance springs surprise

Price guidance on Pramerica Investment Management’s European collateralised loan obligation, Dryden XXVII CLO, startled securitisation professionals in London this week, with some seeing the suggested spread levels on the BB-rated bonds as low.

  • 22 Mar 2013

The Barclays-arranged CLO has a senior class ‘A’ tranche split into fixed- and floating-rate segments. The €90m fixed-rate piece has an initial guidance in the 2.4% area. Guidance on the €79.5m class ‘A’ floating-rate piece meanwhile is about 140 basis points above an expected benchmark of six-month Euribor.

The ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%