Citigroup Outbids Street For Angelo Gordon, Sovereign Portfolios

Citigroup won two portfolio auctions totaling $308 million last week.

  • 11 Mar 2005
Email a colleague
Request a PDF

Citigroup won two portfolio auctions totaling $308 million last week. The first, reported last Thursday on LMW's Web site, was a $232 million portfolio of 56 par names sold byAngelo Gordon that went for 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. Last summer, Angelo Gordon sold a $240 million portfolio to Bear Stearns. The cover bid at that auction was 100.78 (LMW, 8/23).

Citigroup also bought a $76 million portfolio of real estate names auctioned off by Sovereign Bank. The winning bid was placed north of par. Morgan Stanley, Bank of America and Wachovia Securities were named as the other bidders. The reasons for the sale could not be determined and Sovereign officials did not return calls.

  • 11 Mar 2005

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 301,362.40 1365 8.53%
2 Citi 271,449.38 1152 7.69%
3 Bank of America Merrill Lynch 235,978.47 965 6.68%
4 Barclays 216,691.99 880 6.14%
5 Goldman Sachs 173,920.50 728 4.92%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 33,643.72 149 7.28%
2 Credit Agricole CIB 33,397.69 144 7.23%
3 JPMorgan 25,483.12 69 5.52%
4 Bank of America Merrill Lynch 23,368.44 65 5.06%
5 SG Corporate & Investment Banking 22,643.54 106 4.90%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 9,438.24 58 10.23%
2 Morgan Stanley 8,636.03 42 9.36%
3 Goldman Sachs 7,738.32 41 8.39%
4 Citi 6,445.29 48 6.98%
5 Credit Suisse 5,197.34 30 5.63%