Affinia, TravelCenters Break Into Market

Several deals backing acquisitions and a refinancing broke last week.

  • 03 Dec 2004
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Affinia, TravelCenters Break Into Market

Several deals backing acquisitions and a refinancing broke last week. Affinia Group's $400 million "B" loan allocated and traded in the 101 5/8-101 7/8 range, while TravelCenters of America's $475 million "C" traded around 101-101 1/4. Roper Industries' $400 million revolver and $655 million "A" loan also traded pro rata around par, while the "A" piece traded higher at 100 1/4-100 5/8. Stratos Global Corp.'s $125 million "B" tranche traded at 100 7/8-101 1/8.

Credit Suisse First Boston, Deutsche Bank, Goldman Sachs and J.P. Morgan lead the Affinia deal that backed the $1 billion acquisition of Dana Corp.'s automotive aftermarket business by private equity firm The Cypress Group. The credit also comprises a $125 million revolver. Affinia's revolver and term loan are priced at LIBOR plus 3% (LMW, 11/8).

TravelCenters "C" loan is priced at LIBOR plus 4 3/4%. The credit also includes a $100 million revolver priced at LIBOR plus 2 1/4%. The $575 million deal financed TravelCenters' acquisition of 11 travel centers from Trip Griffin Truck Service (11/1). J.P. Morgan and Lehman Brothers lead the bank deal.

Roper is led by J.P. Morgan and Wachovia Securities and backs the $600 million acquisition of TransCore Holdings. Both revolver and the "A" loan are priced at LIBOR plus 1 1/4%. Satellite based communications service provider Stratos' loan is part of a $150 million refinancing. The credit also has a $25 million revolver and is led by Royal Bank of Canada and Bank of America.

  • 03 Dec 2004

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%