Deutsche Bank, Lehman Shop EnviroSolutions

Deutsche Bank and Lehman Brothers are leading a $215 million facility for EnviroSolutions Real Property Holdings.

  • 17 Jun 2005
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Deutsche Bank and Lehman Brothers are leading a $215 million facility for EnviroSolutions Real Property Holdings. The credit consists of a six-year, $40 million revolver priced at LIBOR plus 3 1/2% and a seven-year, $175 million term loan "B" which is expected to be priced around LIBOR plus 3 3/4% to 4%.

Proceeds from the "B" loan and $35 million of 12 1/2% senior subordinated notes are expected to be used to repay existing senior secured debt and provide about $98 million of cash to fund growth. Calls to EnviroSolutions were not immediately returned.

Moody's Investors Service assigned a B2 rating to both tranches. The company was started in 2003 and has grown through acquisitions; it recently acquired a landfill in Kentucky and is constructing a landfill in West Virginia. Lenny Ajzenman, v.p. and senior analyst at Moody's, said the ratings could be upgraded if the debt-to-EBITDA levels fall below four times and free cash from operations to total debt goes above 8%.

According to Moody's, pro forma revenues for 2004 were about $150 million and pro forma debt to revenues at Dec. 31 would have been about 1.4 times.

  • 17 Jun 2005

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
  • 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%