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Securitization - CLO/CDO

Kerry Properties launches HK$6bn refi

Hong Kong’s Kerry Properties has launched a self-arranged HK$6bn ($774m) refinancing, offering a similar price to a loan from its holding company in July – and suggesting that pricing for Hong Kong property companies has levelled after tightening dramatically in the first half of the year.

  • 22 Nov 2010

Kerry Properties has invited banks to participate in the five year loan at two levels, offering 95bp all-in for commitments of HK$750m or more and 93.5bp to banks pledging between HK$500m and HK$749m.

Bankers were quick to compare those levels with pricing on a deal from Kerry Holdings ...

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CLO

IssuerArrangerSize ($M)
CVC Credit PartnersCiti497.50
BNP Paribas Asset ManagementRBS335.80
GLG PartnersMorgan Stanley338.40

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Credit Suisse 17,244.96 47 10.25%
2 Bank of America Merrill Lynch 16,424.36 55 9.77%
3 Wells Fargo Securities 16,171.10 55 9.62%
4 Citi 15,175.34 48 9.02%
5 JPMorgan 14,935.65 46 8.88%

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5 Santander 1,815.11 7 6.25%