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 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
  • 16 Jan 2017
1 SG Corporate & Investment Banking 1,260.06 2 126,006,164,037.19%
2 Rabobank 1,081.86 1 108,185,922,974.77%
3 Wells Fargo Securities 430.57 1 43,057,020,785.00%
4 SK Securities 192.86 1 19,286,162,593.99%
4 Meritz Financial Group Inc 192.86 1 19,286,162,593.99%