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) 6,665 23 12.97
2 Citi 5,781 17 11.25
3 BNP Paribas 3,715 15 7.23
4 Barclays 2,853 9 5.55
5 Credit Suisse 2,783 8 5.42

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 99,250.27 279 13.11%
2 Bank of America Merrill Lynch 92,153.61 267 12.17%
3 Wells Fargo Securities 72,661.39 222 9.59%
4 JPMorgan 52,367.24 169 6.91%
5 Credit Suisse 41,885.89 127 5.53%