HY Influx Boosts Secondary Names

  • 07 Sep 2003
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The secondary loan market was given a boost last week on the back of the massive influx into the high-yield bond market. AMG Data Services reported a record $3.3 billion inflow for U.S. junk bond mutual funds in the week ended Aug. 27. "Cable, wireless, rural are all higher," said one trader.

He noted Nextel Communications is trading above par at 1003/8 to 1005/8. In addition to the bond influx, the name is benefiting from news that Warren Buffett's holding company Berkshire Hathaway bought at least $320 million of bonds and preferred stock since the beginning of 2002. Other names that are said to have risen include energy companies such as Dynegy and AES Corp.

 

  • 07 Sep 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%