MachGen Heads North On Break After Price Cut

The repriced credit for MachGen kept desks busy last Thursday afternoon as it broke for trading at par 7/8-101 1/8 and ended up at par 5/8-par 7/8 by day's end, according to a dealer.

  • 23 Feb 2007
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The repriced credit for MachGen kept desks busy last Thursday afternoon as it broke for trading at par 7/8-101 1/8 and ended up at par 5/8-par 7/8 by day's end, according to a dealer. Lead banks Morgan Stanley, Bear Stearns and Deutsche Bank launched a price cut on the term loan and synthetic letter of credit for the energy generation group mid-February (CIN, 2/16).

The financing consists of a $100 million revolver priced at LIBOR plus 2 1/4%, a $580 million first-lien term loan priced at LIBOR plus 2% and a $60 million synthetic letter of credit priced at LIBOR plus 2%. The term loan and synthetic letter of credit were both previously priced at LIBOR plus 2 1/4% before the cut. MachGen's term loan jumped three points to the 125-127 range at the end of January aided by increases in oil and gas prices and attractive equity components (1/30). A call to William Kriegle, ceo at K-Road Ventures which runs the power generation operation, was not returned.

  • 23 Feb 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) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 May 2017
1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%