CDO Structurers Extend Palette Of Features

Collateralized debt obligation structurers are adding to their menu of CDO extras because investors are increasingly looking to tailor deals to meet their specific risk profiles.

  • 30 May 2004
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Collateralized debt obligation structurers are adding to their menu of CDO extras because investors are increasingly looking to tailor deals to meet their specific risk profiles. Floating-spread coupons, principally protected tranches and managed deals, in addition to static ones, are among the features seeing increasing interest from investors, noted David Carlson, global head of credit derivatives marketing at Bear Stearns in New York.

Floating-spread coupons are an extension of the growing constant-maturity swap market and allow investors who are concerned about spread widening to sell credit protection, said Carlson. Principal-protected CDO tranches, although not new, are seeing increased demand as more investors look to take defensive exposures and rising interest-rates make the feature more affordable. Meanwhile single tranche and multi-tranche deals, traditionally static, are increasingly using managers.

  • 30 May 2004

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
  • 10 Jan 2017
1 BNP Paribas 43,328.12 198 6.63%
2 JPMorgan 42,145.56 84 6.45%
3 HSBC 38,419.93 154 5.88%
4 UniCredit 37,616.85 180 5.75%
5 ING 30,163.46 163 4.61%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 10 Jan 2017
1 Emirates NBD PJSC 408.38 1 31.73%
2 SG Corporate & Investment Banking 166.67 1 12.95%
2 JPMorgan 166.67 1 12.95%
2 Credit Agricole CIB 166.67 1 12.95%
5 Morgan Stanley 59.80 1 4.65%