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 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 80,818.31 235 11.57%
2 Bank of America Merrill Lynch 66,338.04 186 9.50%
3 Wells Fargo Securities 56,344.19 164 8.07%
4 JPMorgan 53,381.65 156 7.64%
5 Credit Suisse 44,872.46 115 6.43%