Investors Pile Into NEW Dividend Financing

CIBC World Markets has filled the books on $370 million of loans for N.E.W. Customer Service Companies.

  • 17 Jun 2005
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CIBC World Markets has filled the books on $370 million of loans for N.E.W. Customer Service Companies. The new debt consists of a six-year, $10 million revolver, a six-year, $210 million first-lien loan and a seven-year, $150 million second lien.

Price talk on the revolver and first lien is LIBOR plus 3 1/4% and price talk on the second lien is LIBOR plus 7%. Both the first and second-lien term loans are oversubscribed, according to a banker.

The facility refinances about $175 million of debt and provides a dividend to sponsors Thomas H. Lee Putnam Ventures and Freeman Spogli & Co. The old facility consisted of a $100 million revolver and about $75 million of mezzanine debt.

The banker said the original debt was put in place in August 2004 to finance the acquisition of N.E.W. by the sponsors. The company provides buyer protection plans on consumer electronics, computers, major and small appliances, jewelry and home improvement products. David Bosserman, senior v.p. and cfo, declined comment.

  • 17 Jun 2005

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%