U.K. Manager Preps Next CDO

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  • 24 Nov 2003
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M&G Investment Management is planning to structure a collateralized debt obligation, according to an insider at the firm. The transaction, which should be ready next year, will repackage either asset-backed securities or leveraged loans, according to the insider. M&G is opting to pool these assets because they currently offer more arbitrage than high-yield and investment-grade bonds. As in the U.S., tighter corporate bond spreads have reduced the attractiveness of structuring CDOs backed by unsecured debt, causing collateral managers to use other underlying assets. M&G priced its first CDO of structured finance assets, Pallas CDO, in September. The investment management company already has two CDOs of investment-grade debt outstanding, Panther I and II, as well as a leveraged-loan CLO, Leopard I.

  • 24 Nov 2003

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 1,712.34 6 12.44%
2 SG Corporate & Investment Banking 1,292.64 1 9.39%
2 Rabobank 1,292.64 1 9.39%
4 Mizuho 1,215.54 3 8.83%
5 Wells Fargo Securities 1,012.71 4 7.36%