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 Share % by Volume
1 Citi 10.72
2 Bank of America Merrill Lynch (BAML) 10.66
3 Credit Suisse 6.45
4 Lloyds Bank 6.42
5 JP Morgan 6.35

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%