Citigroup won a $232 million portfolio of 56 par names sold by Angelo Gordon. The winning bid was 102.37, said traders. The cover bid was 102.26. The portfolio included Wyndham International, Smurfit-Stone Container Corp., Invensys, Jostens Intermediate Holding Corp. and $20 million of General Growth Properties (GGP). A trader said the portfolio was maturing and Angelo Gordon was returning money to equity holders. Officials at Citi and Angelo Gordon declined comment.
Citigroup Outbids Street For Angelo Gordon Portfolio