BNP launches new Thunderbird mezzanine CDO, Dresdner tightens spreads for repeat Alexandria

  • 14 Nov 2003

BNP Paribas and Dresdner Bank this week both launched synthetic CDOs, offering investors exposure to portfolios of highly rated asset backed securities.

Thunderbird Investments plc Series 1, launched by BNP, issued $119m equivalent of triple-A rated funded notes denominated in euros, dollars, Swiss francs and yen.

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,691 11 20.70
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.78

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 40,734.72 129 11.55%
2 JPMorgan 32,938.92 93 9.34%
3 Wells Fargo Securities 30,371.96 86 8.61%
4 Bank of America Merrill Lynch 27,582.56 87 7.82%
5 Credit Suisse 22,692.50 70 6.44%