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) 3,136 9 13.58
2 Citi 2,562 6 11.09
3 Goldman Sachs 2,150 3 9.31
4 Credit Suisse 1,822 6 7.89
5 Societe Generale 1,814 4 7.86

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%