Stiefel Trades On Break

Stiefel Laboratories' term loan broke last Wednesday around 100 1/2-101, tightened a bit during the day and was trading around 100 3/4-101 by day's end.

  • 12 Jan 2007
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Stiefel Laboratories' term loan broke last Wednesday around 100 1/2-101, tightened a bit during the day and was trading around 100 3/4-101 by day's end. About $50 to $75 million traded. "It was reasonably active," one dealer said.

Two weeks ago Deutsche Bank, which leads the credit, flexed pricing down 25 basis points on the first lien (CIN, 1/8). The deal consists of a $623 million first-lien term loan priced at LIBOR plus 2 1/4% and a $75 million revolver priced at LIBOR plus 2 1/2%. There is also a $150 million second-lien term loan priced at LIBOR plus 5% with call protection of 102, 101.

The deal backs the acquisition of Palo Alto, Calif.-based Connetics Corp., which was completed Dec. 28. Coral Gables, Fla.-based Stiefel is a pharmaceutical company specializing in dermatology; brands include Sarna and Duac. Connetics was a publicly held pharmaceutical company also focused on developments for the dermatology market. A Stiefel spokeswoman declined comment.

  • 12 Jan 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

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Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 Bank of America Merrill Lynch 57,210.26 177 12.39%
2 Citi 56,957.04 171 12.34%
3 Wells Fargo Securities 47,551.45 149 10.30%
4 JPMorgan 32,965.91 111 7.14%
5 Credit Suisse 23,990.96 75 5.20%