Owens Corning Climbs Higher On $7 Bln Asbestos Litigation Claim

Owens Corning's bank debt climbed to 109 1/4-110 1/4 from 107-109 last week after the company moved a step closer to the resolution of its protracted asbestos litigation.

  • 08 Apr 2005
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Owens Corning's bank debt climbed to 109 1/4-110 1/4 from 107-109 last week after the company moved a step closer to the resolution of its protracted asbestos litigation. The jump followed a ruling by Judge John Fullam to set at $7 billion the amount of claims against Owens Corning caused by asbestos exposure.

The company's bank debt settled in the 107-109 range in February, when it jumped 16 points to 107 1/2-108 1/2. This occurred after oral arguments in the appeal against a ruling on substantive consolidation were presented in front of a three-judge panel in Philadelphia (LMW, 2/14). Last October, the court controversially ruled that Owens Corning's assets and debt would be consolidated under one entity affecting $1.6 billion of bank debt. An Owens Corning spokesman did not return calls.

  • 08 Apr 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 12.62
2 Citi 2,562 6 10.31
3 Goldman Sachs 2,150 3 8.65
4 Credit Suisse 1,822 6 7.33
5 Societe Generale 1,814 4 7.30

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%