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 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
  • 24 Jul 2017
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%