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 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%