U.K. Manager Preps Next CDO

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  • 24 Nov 2003
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M&G Investment Management is planning to structure a collateralized debt obligation, according to an insider at the firm. The transaction, which should be ready next year, will repackage either asset-backed securities or leveraged loans, according to the insider. M&G is opting to pool these assets because they currently offer more arbitrage than high-yield and investment-grade bonds. As in the U.S., tighter corporate bond spreads have reduced the attractiveness of structuring CDOs backed by unsecured debt, causing collateral managers to use other underlying assets. M&G priced its first CDO of structured finance assets, Pallas CDO, in September. The investment management company already has two CDOs of investment-grade debt outstanding, Panther I and II, as well as a leveraged-loan CLO, Leopard I.

  • 24 Nov 2003

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 %
  • Last updated
  • Today
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%