John Walker, Milbank Tweed US firm Milbank, Tweed, Hadley & McCloy has helped close the largest static collateralized debt obligation (CDO) in Europe, advising three Portuguese Banks on the second Tagus Global Bond Securitization. At euro1.1 billion ($942 million) the transaction is the largest static CDO in Europe and only the second collateralized bond obligation to include Portuguese debt. Milbank Tweed partner John Walker advised lead managers and arrangers Merrill Lynch and Deutsche Bank on the transaction that involved an issue of three tranches of bonds at different values and maturity dates on behalf of a syndicate of Portuguese banks. Pedro Cassiano and Paulo Gomez from the Portuguese firm Veira de Almeida & Associados advised the syndicate of banks, including Banco Comercial Português, Espírito Santo Activos Fianceiros and AF Investimentos Gestão de Patrimónios, on Portuguese law.
June 30, 2001