U.S. Sub of Dutch Manager Preps High-Yield CDO

  • 07 Jul 2002
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Weiss, Peck & Greer--the U.S. investment arm of Holland's largest asset manager, The Robeco Group--is prepping its second collateralized debt obligation, according to sister publication BondWeek. Called Robeco CDO V, the deal will be backed by high-yield bonds and loans. The arranger for the deal, Rabobank, currently is marketing the equity and the lower-rated debt tranches. The deal should be priced early next month, a CDO market official noted. Calls to Weiss, Peck & Greer and Rabobank were not returned.

The deal, which will total $300-400 million, is backed by a mix of 80% high-yield bonds and 20% high-yield loans. The official said the timing for high-yield CDOs is better this month than it was a couple of months ago as spreads on high-yield bonds have widened, thereby increasing arbitrage opportunities.

  • 07 Jul 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) 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

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1 Citi 99,250.27 279 13.04%
2 Bank of America Merrill Lynch 92,153.61 267 12.10%
3 Wells Fargo Securities 72,661.39 222 9.54%
4 JPMorgan 52,367.24 169 6.88%
5 Credit Suisse 41,885.89 127 5.50%