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 Share % by Volume
1 Societe Generale 13.43
2 Rabobank 12.61
3 Morgan Stanley 10.27
4 Barclays 7.86
5 Natwest Markets (RBS) 7.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Mar 2017
1 Bank of America Merrill Lynch 18,561.02 56 11.69%
2 Wells Fargo Securities 18,160.90 57 11.44%
3 JPMorgan 12,092.45 38 7.62%
4 Citi 11,878.92 43 7.48%
5 Credit Suisse 9,276.87 26 5.84%