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) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Jul 2017
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%