Dura Automotive Bonds Plunge

Dura Automotive Systems' subordinated 9% '09 bonds tumbled 19 points to 29 1/2 on worse-than-expected second quarter results.

  • 28 Jul 2006
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Dura Automotive Systems' subordinated 9% '09 bonds tumbled 19 points to 29 1/2 on worse-than-expected second quarter results. Its senior 8 5/8% '12 bonds dropped three-and-a-quarter points to 80 1/4. Dura, an auto supplier based in Rochester Hills, Mich., posted a $131.3 million net loss for the quarter, compared to a net income of $3 million for the prior year's quarter. Adjusted EBITDA for the quarter was $21.4 million compared to $50.2 million in the same quarter a year ago.

The poor results were due to lower North American and European automotive production, a bad vehicle platform mix and the loss of a seat adjuster business, according to a company release. Net loss for the six months of 2006 was $138.3 million compared to a net loss of $1.9 million in the same period a year ago. A spokesman did not return a call seeking comment.

  • 28 Jul 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%