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 41.30
2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 Jan 2017
1 CITIC Securities 1,560.67 2 10.70%
2 SG Corporate & Investment Banking 1,445.74 4 9.92%
3 Wells Fargo Securities 1,187.61 3 8.15%
4 Rabobank 1,081.86 1 7.42%
5 Bank of America Merrill Lynch 831.08 4 5.70%