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) 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%