Basis Suspends Redemptions At $1 Billion Hedge Fund

  • 18 Jul 2007
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Basis Capital suspended redemptions for its $1 billion Basis Yield Fund earlier this week after rating agency actions unsettled Basis’ usual markets, reports FinancialStandard.com. The Basis Yield hedge fund was invested in collateralized debt obligations, collateralized loan obligations and subprime mortgages.

Downgrades by Moody’s Investors Service and the placement of funds on credit watch by Standard & Poor’s spooked investors, which prompted the change. The fund had 79% of its assets invested in non-investment grade CDOs, CLOs and subprime mortgages, according to an advisor of one of the funds client’s. The remaining balance was composed of liquid securities.

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  • 18 Jul 2007

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) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 120,126.76 346 12.85%
2 Bank of America Merrill Lynch 99,988.41 288 10.70%
3 Wells Fargo Securities 88,516.28 265 9.47%
4 JPMorgan 69,113.88 208 7.39%
5 Credit Suisse 51,313.00 155 5.49%