Pre-migration untagged articles

CARLYLE Synthetic Loan Partners, Europe’s first managed synthetic CLO, will issue a second Eu300m tap next Friday, January 25.

CITIGROUP this week reported losses of $9.83bn in the fourth quarter of 2007, forcing it to cut its quarterly dividend and to raise over $14.5bn in public and private offerings.

Covered bonds took centre stage this week in the Swiss franc market, with Compagnie de Financement Foncier (CFF) able to price the biggest deal.

If Citigroup’s losses, announced at the beginning of the week, were bad, worse was to follow. Much, much worse. The credit default swap market was reeling on the ropes by the close of trading in New York yesterday (Thursday).

THE LAST two non-bank sponsored SIVs to fund in the European market have defaulted on senior debt payments. The SIVs’ managers will now attempt to convince investors to extend their investments and try to work with banks on restructurings or sales.

The woes of monoline insurers deepened further this week as more losses and a string of rating actions sent their share prices tumbling and threw into doubt the viability of their capital raising plans.

MERRILL Lynch followed Citigroup in revealing more subprime woes yesterday (Thursday) when it revealed net revenue losses of $8.2bn for the final quarter of 2007.

MORGAN Stanley has reorganised its fixed income and credit trading operations, bringing its structured finance businesses into the same group as rates. Roberto Hoornweg, previously global head of interest rates and currencies will head the new, expanded division.

Dealers of private EMTNs: Non-syndicated deals for less than $250m excluding financial repackaged SPVs, self-led deals and issues with a term of less than 365 days.