A $128 million portfolio auction is taking place this week with J.P. Morgan, Morgan Stanley, Wachovia Securities and Bank of America possible bidders. The portfolio is expected to be auctioned as a whole and has 85 pieces. It is mainly “B” loans but the package also includes some “A” loans, according to a trader. It could not be determined who the seller is, though traders said it is from a CLO. Bids are due Thursday at noon.
Dealers Bid On $128 Mln Portfolio Auction