The new term securitization group at Westdeutsche Landesbank Girozentrale (West LB) will manage Condor Capital Corp.'s inaugural $100 million-range subprime securitization.

The deal, which is slated for later this year, will potentially feature a monoline insurance policy. Contrary to what market sources had indicated (see Whispers 6/25/01), West LB has been firmly mandated to lead the transaction for some time.

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