Investors Sniff Out Homebuilder Timing Trade

Investors looking for tailor-made bets in corporate credit are starting to wager on timing defaults across the homebuilder sector.

  • 19 Jun 2008

--Nicoletta Kotsianas

Investors looking for tailor-made bets in corporate credit are starting to wager on timing defaults across the homebuilder sector.

Companies such as D.R. Horton and Lennar Homes are today rated investment grade, though credit default swaps on their bonds trade in the 400 basis point range. This has ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 31,385.40 114 7.52%
2 JPMorgan 29,232.19 105 7.00%
3 Goldman Sachs 27,645.83 55 6.62%
4 Barclays 26,090.00 67 6.25%
5 Deutsche Bank 23,883.15 74 5.72%

Bookrunners of All Syndicated Loans EMEA

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1 Mizuho 299.85 1 21.73%
1 ING 299.85 1 21.73%
1 Commerzbank Group 299.85 1 21.73%
1 BNP Paribas 299.85 1 21.73%
5 UBS 60.22 1 4.36%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 Goldman Sachs 1,607.28 5 22.59%
2 Credit Suisse 1,301.65 4 18.30%
3 UBS 970.80 3 13.65%
4 BNP Paribas 522.35 4 7.34%
5 SG Corporate & Investment Banking 444.17 3 6.24%