Mega Financial Holding, an investment house in Taiwan, rejected a report that it’s facing massive losses on subprime mortgage investments, reports Agence France-Presse. The company said it plans would lose NT$250 million ($7.58 million) in a worst possible outcome. “The worst-case scenario for us is that we may write off a loss of around three to five percent of our NT$5 billion ($151.6 million) in [collateralized loan obligation] holdings,” said Simon Dzeng, spokesman. Dzeng added that there was no reason to believe that Mega would have to write-off all NT$5 billion in CDOs. The Commercial Times reported that the company could face such a loss from its sub-prime exposure.
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|Rank||Lead Manager/Arranger||Share % by Volume|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|1||Wells Fargo Securities||11,897.40||33||11.83%|
|2||Bank of America Merrill Lynch||9,837.56||29||9.78%|