Deluxe's Pricey Credit Gets A Refi

High pricing brought Deluxe Entertainment Services back to the market last week to refinance debt put in place in January.

  • 10 Nov 2006
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High pricing brought Deluxe Entertainment Services back to the market last week to refinance debt put in place in January. The video-editing and production company again tapped Credit Suisse for a $449 million term loan "B" to refinance and cut 75 basis points off the credit.

One investor said his firm had some minor concerns about the overall state of the film industry, but thought Deluxe looked like it still had many years before it hit any trouble. The Hollywood-based company hit up Credit Suisse and Bear Stearns in January for a $733 million deal to back its leveraged buyout by MacAndrews & Forbes from The Rank Group (CIN, 1/6).

The credit was originally talked at LIBOR plus 4-4 1/4% for the $125 million revolver and $458 million term loan "B" because of concerns about the industry swinging toward digital imaging over traditional film production. That deal also consists of a $150 million second-lien term loan priced at LIBOR plus 8 1/4%. Pricing on the first lien was later flexed down to LIBOR plus 3 3/4%, while the size of the revolver was bumped up to $150 million (CIN, 1/13). Calls to a MacAndrews & Forbes spokeswoman were not returned.

  • 10 Nov 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) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 May 2017
1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%