Massive CLO Demand Drives AIG Increase

Morgan Stanley has increased AIG Global Investment Group's latest collateralized loan obligation by $100 million to $400 million on the back of massive investor demand.

  • 04 Feb 2005
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Morgan Stanley has increased AIG Global Investment Group's latest collateralized loan obligation by $100 million to $400 million on the back of massive investor demand. Galaxy IV is the seventh leveraged loan vehicle from AIG and the firm has built a wide range of relationships with investors, said a loan market participant.

A banker said there were commitments from investors that could have allowed a $1 billion deal, but AIG believes it would be better to invest in a more controlled manner. The offering memorandum for the deal will come out Feb. 7 and the debt will be sold in the following week. Pricing is expected to be at the very tight end of recent deals with the AAAs around LIBOR plus 30 basis points. Officials at AIG and Morgan Stanley declined comment.

  • 04 Feb 2005

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 98,446.48 276 13.35%
2 Bank of America Merrill Lynch 90,174.33 262 12.23%
3 Wells Fargo Securities 70,282.48 216 9.53%
4 JPMorgan 51,967.93 167 7.05%
5 Credit Suisse 41,447.11 125 5.62%