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
  • Today
1 Citi 35,941.13 111 8.93%
2 Barclays 31,588.47 86 7.85%
3 JPMorgan 27,799.55 107 6.91%
4 Bank of America Merrill Lynch 27,706.86 75 6.88%
5 HSBC 21,949.38 82 5.45%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 Commerzbank Group 114.00 1 66.16%
2 CaixaBank 37.05 1 21.50%
3 UniCredit 10.62 1 6.17%
3 BNP Paribas 10.62 1 6.17%
Subtotal 172.30 3 100.00%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 SG Corporate & Investment Banking 770.06 2 16.80%
2 Goldman Sachs 656.16 2 14.32%
3 JPMorgan 527.28 4 11.50%
4 Emirates NBD PJSC 408.38 1 8.91%
5 Deutsche Bank 321.53 3 7.01%