$286 Million BWIC Due Tomorrow: Another Galleon Casualty?

Tyler Durden's picture

A $286 million loan BWIC is being marketed, with a 10:00 am deadline tomorrow for bid submissions. The lineup of holdings is not too remarkable so it is not immediately possible to determine who the unlucky imploder may be. However, as it has been over a month since the last BWIC hit the market, there are rumors that this could be a Galleon-related unwind. The largest names in the BWIC include Hertz, ServiceMaster, Windstream, QVC and Sungard loans, at $15, $11.2, $9.7, $9.5 and $9.1 million respectively.

Full list below.


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mdtrader's picture

Amazon knocks it out the park big time. Looks like there is no consumer recession after all. AAPL & AMZN simply unstoppable.

Cursive's picture

I guess there is a great business in selling below-cost books.  Is that worth 50x to 60x earnings when WMT trades at 15x?

etrader's picture

There's plenty of disposable income when people don't pay mortgages/Car loans or other debt.... Why waste the money on debt when you can buy all that "must need "stuff off line or the apple shop...

The Government will take care off those other pesky payments....


mdtrader's picture

Yeah fair enough. Misjudged the consumer I have. The force is definitely not with me on AMZN. Such is life, you win some you lose some.



ZeroPower's picture

Bid wanted in competition.

curbyourrisk's picture

Have fun selling that crap!!!!

Cognitive Dissonance's picture

Overheard at lunch with Ben B as he scanned the BWIC menu.

I want one from column A, one from column B and two from column C.

And could I get some duck sauce with that and a refill on the tea? Thanks.

Rollerball's picture

I wish I could watch this on Ebay.

ZeroPower's picture

i would bid, not pay, and leave negative feedback.

What_Me_Worry's picture

Ooh, they have some AXL debt.  Sign me up at 100 cents on the dollar!

Negative book value is a good thing now, right?

Anonymous's picture

BWIC is an acronym for...?

Anonymous's picture

Bid Wanted In Competition (BWIC

Anonymous's picture

its definitely not galleon

Anonymous's picture

where is this one coming from? how about any of the other ones this week? Heard it was profit taking from guys who bought in earlier this year.