Power Deal Suggests High-Yield Resurgence

A $750 million financing backing Industry Funds Management's $1.477 billion acquisition of a 1.7 GW portfolio from Consolidated Edison Development may be a sign the high-yield market is expected to return, some bankers say.

  • 25 Apr 2008
A $750 million financing backing Industry Funds Management's $1.477 billion acquisition of a 1.7 GW portfolio from Consolidated Edison Development may be a sign the high-yield market is expected to return, some bankers say. "It's similar to subordinate tranches that were popular until the sub-prime crisis," says one. ...

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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) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

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1 Citi 10,064.23 34 12.73%
2 Barclays 7,915.37 23 10.01%
3 Bank of America Merrill Lynch 7,473.95 24 9.45%
4 JPMorgan 7,314.30 26 9.25%
5 Wells Fargo Securities 6,258.35 24 7.92%