Banks scaled back in $250m Evonik Carbon Black revolver

German pigments producer Evonik Carbon Black’s $250m super-senior revolver has been allocated oversubscribed despite warnings of poor appetite from banks for this type of paper in 2011.

  • 14 Jun 2011

Carbon Black’s Eu600m-equivalent high yield bond is roadshowing this week, and will be used alongside the revolving credit facility to back Rhône Capital and Triton’s takeover of the borrower.

“It is the first super-senior revolver that has been oversubscribed for a while,” said a banker close to the transaction. ...

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2 Rabobank 12.61
3 Morgan Stanley 10.27
4 Barclays 7.86
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Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 18,561.02 56 11.69%
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3 JPMorgan 12,092.45 38 7.62%
4 Citi 11,878.92 43 7.48%
5 Credit Suisse 9,276.87 26 5.84%