Duo Lays Out Formica Dividend Recap

Bank of America and UBS have launched syndication of a $270 million cross-border dividend deal for Formica Corp.

  • 27 Jan 2006
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Bank of America and UBS have launched syndication of a $270 million cross-border dividend deal for Formica Corp. The banks held meetings last Wednesday in New York and last Thursday in London.

The deal is comprised of a six-year, $60 million revolver and a seven-year, $210 million term loan "B." Pricing on the revolver is LIBOR plus 2 3/4%, while the term loan is priced at LIBOR plus 3%. The dividend will pay around $30 million to equity holders that include Cerberus Capital Management and Oaktree Capital. Moody's Investors Service has assigned a B2 rating to Formica's term loan and revolver.

Calls to officials at the Cincinnati-based designer and manufacturer of surfacing materials were not returned. Bankers at B of A and UBS did not return calls.

  • 27 Jan 2006

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 13.43
2 Rabobank 12.61
3 Morgan Stanley 10.27
4 Barclays 7.86
5 Natwest Markets (RBS) 7.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Mar 2017
1 Bank of America Merrill Lynch 18,561.02 56 11.69%
2 Wells Fargo Securities 18,160.90 57 11.44%
3 JPMorgan 12,092.45 38 7.62%
4 Citi 11,878.92 43 7.48%
5 Credit Suisse 9,276.87 26 5.84%