CDO Manager Sells High-Yield CDS

Washington Square Investment Management, a collateralized debt obligation manager, has sold credit-default protection on a string of high-yield names.

  • 27 May 2005
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Washington Square Investment Management, a collateralized debt obligation manager, has sold credit-default protection on a string of high-yield names. The five-year swaps are referenced to names in the iTraxx Crossover index. Miguel Ramos, managing partner in London, said the deals take advantage of recent spread widening in the index, which saw some names blow out by more than 100 basis points.

Ahold and Eircom were two of the CDS the firm traded, according to Ramos, who said it received premiums of between 250 to 280bps for each trade. "We felt comfortable doing these trades because we had already heavily researched the names and were ready to take them on in a medium-term view," he added.

Ramos declined to name counterparties, but said careful consideration had been given on selection because the difference in premium prices was surprising.

  • 27 May 2005

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 Citi 22,118.13 61 9.00%
2 Barclays 20,987.41 55 8.54%
3 JPMorgan 17,406.75 53 7.08%
4 HSBC 16,333.52 48 6.64%
5 Goldman Sachs 15,454.74 49 6.29%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 Commerzbank Group 114.00 1 66.16%
2 CaixaBank 37.05 1 21.50%
3 UniCredit 10.62 1 6.17%
3 BNP Paribas 10.62 1 6.17%
Subtotal 172.30 3 100.00%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 SG Corporate & Investment Banking 770.06 2 16.80%
2 Goldman Sachs 656.16 2 14.32%
3 JPMorgan 527.28 4 11.50%
4 Emirates NBD PJSC 408.38 1 8.91%
5 Deutsche Bank 321.53 3 7.01%