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

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1 BNP Paribas 15,256 32 16.83
2 Bank of America Merrill Lynch (BAML) 10,179 30 11.23
3 Citi 9,751 23 10.76
4 Lloyds Bank 7,329 24 8.09
5 JP Morgan 6,580 10 7.26

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1 RBC Capital Markets 801.51 2 13.30%
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