Cebridge Refi Brings Down Debt

The term loan "B" for St. Louis-based cable provider Cebridge Connections, now known as Suddenlink and owned by investment and management firm Cequel III, has slowly fallen about a point on news it is refinancing its existing debt.

  • 30 Mar 2007
Email a colleague
Request a PDF

The term loan "B" for St. Louis-based cable provider Cebridge Connections, now known as Suddenlink and owned by investment and management firm Cequel III, has slowly fallen about a point on news it is refinancing its existing debt. The term loan was bid at 99 3/4 and offered at par last Wednesday afternoon, according to a dealer. The upsized seven-and-a-half year, $2.325 billion refinanced credit is being cut 25 basis points to LIBOR plus 2%, with an original issue discount of 99 3/4 and 101 soft call protection for 18 months.

Investors indulged in the initial $2.2 billion credit in April 2006 (CIN, 4/10). Led by Credit Suisse and Goldman Sachs, the existing $2.1 billion term loan is currently priced at LIBOR plus 2 1/4% (5/8). Cebridge tapped the banks last May to finance its acquisition of assets from Charter Communications and Cox Communications. Ralph Kelly, treasurer, declined comment.

  • 30 Mar 2007

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

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%