Investor Weariness Causes Adelphia To Yo-Yo And Wyndham to Fall

  • 30 May 2002
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Adelphia Communications is still winning attention from investors in the loan market this week with both par and distressed desks taking a look at the name. Small pieces of the Century Cable facility were said to have traded in the 88-89 region. Bigger banks pressured by their credit committees to reduce exposure are supplying the paper, one trader said. After a bank call earlier this week, bids for the paper sunk once again into the mid-80s. Many market players believe that at the end of the day it's a par name, but, as one dealer noted, "who knows if this company falls into Chapter 11." The company's spokeswoman declined to comment.

A small piece of Wyndham International's "B" term loan traded in the 95 range on Tuesday, according to dealers, but some quoted the paper as low as 92-94. The paper had been offered in the 95-95 1/2 range last week but had dropped from the 97 1/2 ­ 98 1/2 range on doubts surrounding the completion of the company's bond deal that has been slated to pay down 10-15% of the paper and all of the name's increasing rate loan. No trades were reported on the IRLs. Rick Smith, cfo of Wyndham, could not be reached by press time.

  • 30 May 2002

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%