Wachovia To Post Deal Docs

Wachovia Securities is planning to start posting the documentation for collateralized debt obligations it underwrites to a third-party site sponsored by The Bond Market Association.

  • 10 Dec 2004
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Wachovia Securities is planning to start posting the documentation for collateralized debt obligations it underwrites to a third-party site sponsored by The Bond Market Association. The move will raise the number of dealers posting their deal indentures to 10, including firms such as Merrill Lynch, UBS and Bear Stearns. Wachovia had been the most active dealer to not have its deals available to all qualified institutional buyers via the trade group's CDO Library (BW, 10/11), which was set up to promote transparency in the market.

A Wachovia structured credit lawyer referred questions to Jim Pierpoint, spokesman, who confirmed the plans. "We are going to post new deals going forward," he said, although he declined comment as to why the firm has lagged some of its peers in doing so.

Nadine Cancell, v.p. and assistant general council at TBMA, said there is documentation on 77 deals posted on the library as of earlier this month, compared to about 50 in October. The library went live in March. "It's definitely been picking up," she said.

  • 10 Dec 2004

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) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%