Watermark
Go to Asia edition

Neuberger Berman fund launch offers rate rise hedge

Asset manager Neuberger Berman on Wednesday began marketing a $200m London-listed closed end fund that will play to fixed income investors’ fears of rising global interest rates. The fund will buy a portfolio of non-investment grade senior secured loans — giving investors access to a floating rate product that will target a first-year dividend yield of 5%.

  • 23 Feb 2011

The bookrunners for the IPO are Dexion Capital and Oriel Securities. The deal — for which a prospectus is planned for mid-March with listing in April — has been structured with several discount control and transparency features protecting investors from the shares trading below net asset value.

It ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial
Log in

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
View full table
1 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 Citi 80,818.31 235 11.57%
2 Bank of America Merrill Lynch 66,338.04 186 9.50%
3 Wells Fargo Securities 56,344.19 164 8.07%
4 JPMorgan 53,381.65 156 7.64%
5 Credit Suisse 44,872.46 115 6.43%