Babson, Wachovia Enter Marketing Phase For New CLO

  • 16 Feb 2003
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Wachovia Securities is in the market with a $400 million collateralized loan obligation for David L. Babson & Company, according to market sources. The vehicle will be the first one since Babson completed the acquisition of Wachovia's institutional leveraged loan asset management business, First Union Institutional Debt Management (IDM). Portfolio managers John Wheeler and Tom Finke did not return calls for comment. Officials at Wachovia also did not return calls.

One analyst noted he would be interested to see the characteristics of the new deal, considering the particular investment styles of the former IDM and Babson teams (LMW, 1/12). Drew Dickey, managing director at Babson told LMW in January, he could not confirm or deny Babson is doing a deal as "any CLO would be a private placement." But, he added, "Certainly, it is fair to say the acquisition of IDM enhanced Babson's ability to complete deals when it is prudent."

  • 16 Feb 2003

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 117,261.12 337 11.07%
2 Bank of America Merrill Lynch 94,721.79 272 8.94%
3 JPMorgan 92,612.23 269 8.74%
4 Wells Fargo Securities 82,597.19 239 7.80%
5 Credit Suisse 69,442.99 183 6.55%