AIG Seen Warehousing Assets For Opportunistic CLO

  • 06 Apr 2003
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Insurance giant AIG is in the market warehousing loans for a new collateralized loan obligation, as the firm seeks to be opportunistic with the current spreads on offer. There are good yields available, though the liabilities right now are expensive, explained a market source. AIG would like to be in a position to launch the new CLO within the next couple of months, he added, noting that the plans are still at an early stage. AIG has created a warehouse line with a bank--that could not be determined--but has not yet chosen the lead to raise the debt, the source said. The potential CLO will add to the massive $4 billion AIG has in loan assets under management and would be the firm's fifth structured loan vehicle. Officials at AIG declined comment.

Potential banks to lead the CLO include the usual repertoire of Credit Suisse First Boston, J.P. Morgan, Wachovia Bank, Morgan Stanley and Deutsche Bank, said the official. CDC IXIS could also be considered, he added, after the French bank brought on board Ken Wormser, former managing director and head of CIBC World Markets' asset securitization group, and Wormser's entire team last month. "There is some advantage to being [CDC's] first," he said, noting that the firm would throw everything into its initial effort. "It is very important for [CDC] to take someone to market." Additionally, CIBC led one of AIG's first CLOs.

  • 06 Apr 2003

New! GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 7,029 20 10.95
2 Bank of America Merrill Lynch (BAML) 6,703 19 10.45
3 JP Morgan 4,776 10 7.44
4 Credit Suisse 4,718 9 7.35
5 Deutsche Bank 4,262 13 6.64

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Oct 2016
1 Wells Fargo Securities 67,591.81 167 11.54%
2 Bank of America Merrill Lynch 57,568.62 162 9.83%
3 JPMorgan 55,390.36 159 9.46%
4 Citi 55,051.46 160 9.40%
5 Credit Suisse 43,756.73 120 7.47%