Trio Commits To Scotts Recap

JPMorgan, Bank of America and Citigroup have committed to providing a $2.1 billion credit facility to Scotts Miracle-Gro Co. for a planned recapitalization.

  • 15 Dec 2006
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JPMorgan, Bank of America and Citigroup have committed to providing a $2.1 billion credit facility to Scotts Miracle-Gro Co. for a planned recapitalization. The company announced last Tuesday it plans to repurchase its existing $200 million of 6.625% senior subordinated notes in a Dutch auction tender offer commencing in January and pay a dividend to shareholders, according to a filing with the Securities and Exchange Commission.

The debt financing is expected to include a revolver and term loan, but further details could not be determined. The company is also planning to return $500 million to shareholders in a special one-time cash dividend. Moody's Investors Service placed Scotts corporate family rating and senior subordinated ratings under review for possible downgrade following the announcement. Calls to a Scotts spokesman were not returned.

  • 15 Dec 2006

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) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 09 Dec 2017
1 Citi 118,624.20 342 12.98%
2 Bank of America Merrill Lynch 99,769.11 286 10.92%
3 Wells Fargo Securities 86,271.10 256 9.44%
4 JPMorgan 67,323.36 205 7.37%
5 Credit Suisse 49,265.86 144 5.39%