Telecom Names Spark The Market

  • 03 Mar 2002
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Nextel Communications and Global Crossing found popularity with would-be buyers last week with $40-50 million of each name trading. A $2.5 million piece of Nextel's term loans "B" and "C" traded at 84 3/4 in the street following higher bond prices by week's end. The paper, which had been auctioned off as low as 80 two weeks ago, hit the 83 3/4 level by midweek. On Thursday, $2.5 million of the name's "D" term loan traded at 83 3/8. Officials at the company could not be reached by press time.

Global Crossing's bank debt also changed hands in the 20 1/2 to 22 1/2 range, although some traders priced the market as low as 18 1/2 to 20 1/2. Dealers said technical factors drove the market, specifically distressed and vulture funds looking to buy the paper. Specific buyers and sellers could not be determined. A spokeswoman from Global Crossing declined to comment on the trades.

  • 03 Mar 2002

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 1,505.59 4 20.86%
2 SG Corporate & Investment Banking 1,292.64 1 17.91%
2 Rabobank 1,292.64 1 17.91%
4 Wells Fargo Securities 760.56 2 10.54%
5 BNP Paribas 598.25 2 8.29%