IntraLinks First-Lien PIK Pitch Ditched

Investors quickly rejected a first-ever, first-lien payment-in-kind toggle loan, part of the financing for the leveraged buyout of IntraLinks, voicing complaints to leads Deutsche Bank and Credit Suisse.

  • 15 Jun 2007
Investors quickly rejected a first-ever, first-lien payment-in-kind toggle loan, part of the financing for the leveraged buyout of IntraLinks, voicing complaints to leads Deutsche Bank and Credit Suisse. "Dead on arrival," said one investor who reviewed the deal. "We will not do a first-lien PIK toggle." "Frankly, a lot ...

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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 12.97
2 Citi 5,781 17 11.25
3 BNP Paribas 3,715 15 7.23
4 Barclays 2,853 9 5.55
5 Credit Suisse 2,783 8 5.42

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1 Citi 99,250.27 279 13.04%
2 Bank of America Merrill Lynch 92,153.61 267 12.10%
3 Wells Fargo Securities 72,661.39 222 9.54%
4 JPMorgan 52,367.24 169 6.88%
5 Credit Suisse 41,885.89 127 5.50%