Check Debt Breaks Around Par

The $1.8 billion term loan "B" for Clarke American Checks broke for trading last Monday around par-par 1/4 and continued to trade in that context, according to a dealer.

  • 30 Mar 2007
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The $1.8 billion term loan "B" for Clarke American Checks broke for trading last Monday around par-par 1/4 and continued to trade in that context, according to a dealer. Led by Credit Suisse and Bear Stearns, the deal comprises a six-year, $100 million revolver and the seven-year term loan, both priced at LIBOR plus 2 1/2%.

The financing is being used by M&F Worldwide, the parent company of Clarke American, to acquire the John H. Harland Company for approximately $1.7 billion. Atlanta-based Harland is a provider of printed products and software and related services for the financial institution market. Calls to a company spokeswoman were not returned.

M&F tapped Bear Stearns and JPMorgan in November 2005 for a $125 million credit facility to back its $800 million acquisition of Clarke American from Honeywell (CIN, 11/21/2005). The deal comprised a $15 million revolver and a $110 million term loan "B" with tranches priced at LIBOR plus 1 3/4%.

  • 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%