Warnaco Auction Pushes Down Price

  • 15 Sep 2002
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A $60 million piece of Warnaco Group's bank debt was auctioned off last week at 27-28, but the parties involved could not be determined. The paper had been moving in the low 30s, and the size of the piece was said to have pushed down the price.

At the end of July, Warnaco sparked the secondary loan market with more than $60 million changing hands, according to dealers. Market sources also said the ultimate recovery value for the bank debt is deemed to be as high as 40. The paper has yet to climb to those levels though, because the timing is still uncertain (LMW, 7/29).

Warnaco is currently working its way through a bankruptcy restructuring process. It had originally pursued a strategy that would involve a merger or acquisition, but is now most likely to emerge as a stand-alone company on Jan. 6. Jim Fogarty, cfo, could not be reached by press time.

  • 15 Sep 2002

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
  • 18 Jul 2017
1 Bank of America Merrill Lynch 57,210.26 177 12.39%
2 Citi 56,957.04 171 12.34%
3 Wells Fargo Securities 47,551.45 149 10.30%
4 JPMorgan 32,965.91 111 7.14%
5 Credit Suisse 23,990.96 75 5.20%