UBS, Bear Stearns Set To Write Checks

UBS will be launching syndication of an $85 million credit facility for the acquisition of California Check Cashing Stores by Golden Gate Capital after Labor Day, according to a banker.

  • 25 Aug 2006
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UBS will be launching syndication of an $85 million credit facility for the acquisition of California Check Cashing Stores by Golden Gate Capital after Labor Day, according to a banker. The deal will consist of a six-year, $10 million revolver; a six-year, $60 million term loan and a seven-year, $15 million second-lien term loan. Pricing has not yet been determined.

Bear Stearns will also be launching a similar deal for ACE Cash Express sometime next month, according to an investor. The deal will consist of a $250 million term loan "B" and will be used to bring the company private, according to that investor. Pricing could not be determined. A Bear Stearns banker declined comment.

ACE announced in June that JLL Partners Fund V, comprised of JLL Partners, Jay Shipowitz, ACE's ceo, and certain members of ACE's senior management team would acquire all outstanding shares of the company's common stock for a price of $30 per share. Calls to William McCalmont, ACE cfo, and Frank Rodriguez of JLL Partners were not returned.

California Check Cashing Stores is a retailer of alternative financial services, including check cashing, short-term consumer loans, wire transfers via Western Union and bill-pay services. Calls to Golden Gate Capital were referred to a spokeswoman who declined comment. A representative from California Check Cashing Stores could not be reached.

Irving, Texas-based ACE is also a retailer of financial services.

  • 25 Aug 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) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Jul 2017
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%