Fortune 500 Co. Eyes Fixed-To-Floating Swap Debut

  • 08 Jul 2002
Email a colleague
Request a PDF

Science Applications International, a Fortune 500 research and engineering company with more than USD6 billion in revenue last year, is considering entering its first interest-rate swap on the back of a recent USD800 million bond issue. The company is reviewing swap transactions with potential counterparties, according to Ron Zollars, spokesman in San Diego.

"We are considering approaches [from investment banks] regarding how much and when to swap from fixed to floating-rate," Zollars said. He was unable to provide further information regarding its swap plans or the company's debt profile.

Last month the company came to market with a USD550 million 10-year note with a fixed coupon of 6.25% and a USD250 million 30-year bond with a fixed coupon of 7.125%. The deal was underwritten by JPMorgan. Zollar said the company is looking to enter a swap to convert some or all of those liabilities into floating-rate obligations.

Moody's Investors Service rates the company A3 and Standard & Poor's rates it A minus.

 

  • 08 Jul 2002

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 13 Mar 2017
1 JPMorgan 94,925.33 384 8.39%
2 Citi 87,531.58 331 7.74%
3 Bank of America Merrill Lynch 84,341.49 288 7.46%
4 Barclays 75,288.19 241 6.66%
5 Goldman Sachs 68,504.71 208 6.06%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 14 Mar 2017
1 Bank of America Merrill Lynch 10,650.87 23 11.13%
2 Deutsche Bank 8,169.49 17 8.53%
3 HSBC 6,243.46 23 6.52%
4 Citi 4,355.35 13 4.55%
5 SG Corporate & Investment Banking 4,273.37 17 4.46%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Mar 2017
1 JPMorgan 5,440.56 17 10.74%
2 Deutsche Bank 4,468.97 23 8.82%
3 UBS 3,742.72 17 7.39%
4 Citi 3,393.89 23 6.70%
5 Goldman Sachs 3,360.93 18 6.63%