MetroPCS Calls In Bear Stearns

Bear Stearns is leading a $950 million credit facility for MetroPCS Wireless.

  • 06 May 2005
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Bear Stearns is leading a $950 million credit facility for MetroPCS Wireless. The loan consists of a seven-year, $700 million first-lien tranche and a seven-year, $250 million second-lien. Pricing is LIBOR plus 3 3/4% on the first-lien and LIBOR plus 5 3/4% on the second-lien. Both tranches have 102, 101 call protection.

The company is selling spectrum to Verizon Wireless for $230 million with combined proceeds of the sale and the new debt used to refinance $540 million of an existing bridge loan and tender for $150 million of 10 3/4% senior notes due 2011. It will also put an additional $425 million on the balance sheet. The deal has incurrence covenants and is being sold to loan and bond investors, who have already begun to commit.

The company is a subsidiary of MetroPCS Communications with 20 PCS licenses in the Miami/Ft. Lauderdale, Fla., areas, San Francisco, Atlanta and the Sacramento area. It offers flat-rate plans with unlimited local and domestic long distance minutes with no contractor. Braxton Carter, senior v.p. and cfo, referred calls to Bear Stearns.

  • 06 May 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) 3,136 9 13.58
2 Citi 2,562 6 11.09
3 Goldman Sachs 2,150 3 9.31
4 Credit Suisse 1,822 6 7.89
5 Societe Generale 1,814 4 7.86

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%