. . . As Wachovia Prices Callidus Vehicle

  • 22 Jun 2003
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Wachovia Securities has priced the debt for Callidus Capital Management's debut loan deal, a $300 million cash flow vehicle called Callidus Debt Partners CDO Fund II. The CLO uses the Wachovia APEX structure, which differs from traditional CDOs in that it includes three swaps entered into between Wachovia and the fund. The deal is also unusual in that the $246 million of AAA notes were wrapped by AMBAC Asset Assurance. The notes were priced at LIBOR plus 50 basis points, said a source. But the charge for the wrap from the insurer was not included in this, he said, and this will probably cost in the region of 20 basis points. Officials at Callidus declined comment until the vehicle closes at the end of this month.

Though Callidus has never managed a CLO before, the firm comprises some of the most experienced leveraged finance professionals in the business. Richard Ivers, a founder and managing director of Callidus, and co-founder Mavis Taintor, were managing directors in the leveraged finance group at Credit Suisse First Boston (LMW, 2/9). Taintor also worked at Salomon Smith Barney, where she started and ran the bank loan group with Ivers from 1996 to 1998.


  • 22 Jun 2003

New! GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 7,171 21 10.72
2 Bank of America Merrill Lynch (BAML) 6,901 20 10.32
3 JP Morgan 4,776 10 7.14
4 Credit Suisse 4,718 9 7.05
5 Lloyds Bank 4,420 14 6.61

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Oct 2016
1 Wells Fargo Securities 68,611.22 170 11.38%
2 Bank of America Merrill Lynch 59,056.08 169 9.80%
3 JPMorgan 56,861.85 163 9.43%
4 Citi 56,521.05 165 9.38%
5 Credit Suisse 44,888.95 123 7.45%