Second-Lien Lenders Build Positions In Quality Home Brands

Investors sought to accumulate positions in Quality Home Brands' new $100 million second-lien loan priced at LIBOR plus 6 1/4%, helping to boost its trading levels on its break in the secondary market last week.

  • 16 Jun 2006
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Investors sought to accumulate positions in Quality Home Brands' new $100 million second-lien loan priced at LIBOR plus 6 1/4%, helping to boost its trading levels on its break in the secondary market last week. The second lien broke at 101 1/4, while its $290 million first lien broke at 100 3/8. Bear Stearns and BNP Paribas lead the deal, which backs Quality Home Brands' acquisition of Encompass Lighting (CIN, 6/9).

A trader said the second lien had small allocations and that several accounts were trying to build positions in the debt. Original price talk was in the LIBOR plus 6 1/2-6 3/4% range. The first lien is priced at LIBOR plus 2 1/2%. The deal was reworked due to oversubscription; the original credit consisted of a $270 million first lien and a $120 million second lien. A call to William Haley, cfo, was not returned.

  • 16 Jun 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) 4,759 19 12.03
2 Citi 4,288 14 10.84
3 Rabobank 2,633 4 6.65
4 Goldman Sachs 2,615 4 6.61
5 Barclays 2,603 8 6.58

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 Bank of America Merrill Lynch 57,210.26 177 12.39%
2 Citi 56,957.04 171 12.34%
3 Wells Fargo Securities 47,551.45 149 10.30%
4 JPMorgan 32,965.91 111 7.14%
5 Credit Suisse 23,990.96 75 5.20%