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 Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%