British Vita lenders support debt for equity swap

Lenders to British Vita, the UK chemicals group, have voted to support a debt to equity swap restructuring of the company’s debt. Over 75% of lenders — enough to approve the scheme of arrangement — voted in support on Friday.

  • 20 Apr 2009
Under the terms of the restructuring, Texas Pacific Group, the sponsor, and mezzanine lenders are injecting Eu60m of new money, in return for 50.1% of the equity. The senior lenders’ debt is to be written down to Eu100m in return for 37.5% equity and the mezzanine to zero, ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,665 23 13.02
2 Citi 5,781 17 11.29
3 BNP Paribas 3,530 14 6.89
4 Barclays 2,853 9 5.57
5 Credit Suisse 2,783 8 5.44

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 99,250.27 279 13.13%
2 Bank of America Merrill Lynch 91,648.43 266 12.13%
3 Wells Fargo Securities 72,661.39 222 9.61%
4 JPMorgan 52,367.24 169 6.93%
5 Credit Suisse 41,885.89 127 5.54%