Bear Stearns Prints Debut WhiteHorse Deal. . .

Bear Stearns has priced and issued the notes backing WhiteHorse Capital Partners' first collateralized loan obligation.

  • 30 Jul 2004
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Bear Stearns has priced and issued the notes backing WhiteHorse Capital Partners' first collateralized loan obligation. The $179 million in liabilities was priced last week for WhiteHorse I, said an investment manager. The cash-flow vehicle will be approximately $200 million and will invest almost entirely in senior secured loans, with a small high-yield bond bucket. Ira Wagner, a senior managing director at Bear Stearns, said he will not comment on any transaction that could be in the market. WhiteHorse portfolio manager Ethan Underwood also declined comment.

WhiteHorse is a Dallas-based investment firm that focuses on managing leveraged loans and structured finance vehicles (LMW, 7/7). The firm was formed last year by a group that includes ex-Highland Capital Management staffers, including managers Jay Carvell and Underwood. Jarred Worley, who is the structured product manager and chief operations officer, is also a founding member. Other staffers at the firm include Antal Desai and Nate Stinchcomb, who are portfolio analysts. Desai previously worked at Goldman Sachs and Stinchcomb was at Crédit Lyonnais.

  • 30 Jul 2004

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,691 11 20.69
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.77

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 50,403.75 160 10.75%
2 JPMorgan 43,572.97 127 9.29%
3 Wells Fargo Securities 37,802.87 110 8.06%
4 Bank of America Merrill Lynch 35,114.60 112 7.49%
5 Credit Suisse 30,324.55 94 6.47%