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 Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%