Owens Corning Trades in Big Block, Telecom Names Dive Deeper

  • 13 Jun 2001
Email a colleague
Request a PDF

A $40 to $50 million block of Owens Corning's bank debt traded at 64-66 today, which is up from the low 60s for the credit. Deutsche Banc Alex. Brown was rumored to be involved, although that could not be confirmed with officials.

USG Corporation's bank debt is bouncing around on questions of whether the company will file for Chapter 11 bankruptcy protection. This week the paper traded at 68, which is up from the low 60s a week ago. The paper has plummeted from the 80s since the company announced that it's facing ever increasing asbestos litigation as one of the last companies that hasn't filed. A total of $20 million changed hands.

Dealers say a number of telecom credits continue to plunge deeper: XO Communications traded at 76. McLeod USA traded down from the low 90s to the high 80s. In par news, VoiceStream's "A" and "B" tranches both traded up over par this week. One trader explained that investors believe Deutsche Telekom will call the paper at par in the near future, which will keep levels steady.

  • 13 Jun 2001

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%