Goldman, BofA take most of mammoth mortgage bond bidlist

index markets_575px_adobe_25Sep20
By Tom Brown
23 Oct 2020

Cerberus Capital Management drew strong demand for its 48-line item bidlist of mezzanine mortgage bonds on Thursday, with winning bids for most of the bonds in the nearly day-long sale going to Goldman Sachs and Bank of America, sources tell GlobalCapital.

The trading kicked off at 1:00pm and continued well into the evening in London, wrapping up at 9:30pm, with the seller based in New York lengthening the execution time.

“It's the longest BWIC in ABS history in terms of trading time," said a seasoned investor.

GlobalCapital understands that ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial