Virginia Shop Debuts CDO Deal

  • 19 Jan 2003
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Westmoreland Capital Management is prepping its first ever collateralized debt obligation. It should price in the first quarter, according to a CDO market participant. The firm is a brand new CDO shop based in Richmond, Va. It was created last year by several senior CDO bankers from J.P. Morgan Securities, Prudential Securities and First Union Capital Markets. Carter Rise, founding partner, reached at the firm's New York office, declined to comment.

Wachovia Securities is underwriting the $1 billion investment-grade managed CDO deal, says the market official. He says market participants believe Westmoreland plans to launch a second deal in the second half of the year. It will be a multi-sector asset-backed securities CDO, he says. Calls to Tom Wickwire, the head of Wachovia's credit structured product group in Charlotte, were not returned.

  • 19 Jan 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 %
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1 Citi 118,624.20 342 12.90%
2 Bank of America Merrill Lynch 99,769.11 286 10.85%
3 Wells Fargo Securities 87,449.35 261 9.51%
4 JPMorgan 67,955.87 206 7.39%
5 Credit Suisse 50,788.13 152 5.52%