Bear Stearns Wins Angelo Gordon Portfolio

Bear Stearns won a $240 million portfolio auctioned off by Angelo, Gordon & Co. with the cover bid coming in at 100.78, said a trader.

  • 20 Aug 2004
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Bear Stearns won a $240 million portfolio auctioned off by Angelo, Gordon & Co. with the cover bid coming in at 100.78, said a trader. Angelo Gordon is liquidating a collateralized debt obligation that is set to expire, said dealers. Officials at Angelo Gordon and a Bear Stearns trader declined comment. As first reported on LMW's Web site, Citigroup was also slated to run an auction from its own book last week, but pushed it back until the Angelo Gordon deal was completed. Traders said this was so there would not be two simultaneous auctions in the market.

There have been a slew of portfolio auctions in the past few weeks. TCW and Sankaty Advisors both liquidated CLOs two weeks ago with the portfolios being sold above par. CLOs reaching the end of their reinvestment periods and the current high prices for loans are contributing factors. Angelo Gordon has issued four CLOs including the latest Northwoods Capital IV (LMW 4/16). The deal that is being liquidated could not be determined by press time. Jeffrey Aronson and John Fraser are the leveraged loan managers.

  • 20 Aug 2004

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 41.30
2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 SG Corporate & Investment Banking 1,260.06 2 126,006,164,037.19%
2 Rabobank 1,081.86 1 108,185,922,974.77%
3 Wells Fargo Securities 430.57 1 43,057,020,785.00%
4 SK Securities 192.86 1 19,286,162,593.99%
4 Meritz Financial Group Inc 192.86 1 19,286,162,593.99%