Satellite Deals Rise Higher

Two satellite deals are trading higher as investors search for opportunities.

  • 05 Nov 2004
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Two satellite deals are trading higher as investors search for opportunities. The $460 million "B" loan for New Skies Satellites traded in the 101 3/4-102 after breaking around 101 3/8-101 3/4. Meanwhile, PanAmSat's $1.66 billion "B" loan traded at 101 1/4-101 1/2, moving up from the 100 3/8-100 5/8 range where it broke three months ago. "It's an arbitrage situation," a trader said, explaining that New Skies could have dragged attention to PanAmSat. "If New Skies broke above 101, PanAmSat should be a better buy," he noted.

New Skies revolver and term loan are part of a $956 million deal that backed The Blackstone Group's acquisition of the satellite operator (LMW, 10/4). The deal is led by Deutsche Bank and ABN Amro and also comprises a $75 million revolver. Pricing on the "B" loan is LIBOR plus 2 1/2% while the revolver is priced at LIBOR plus 2 3/4%.

PanAmSat's "B" loan is also part of a financing that backed the company's acquisition by private equity firms Kohlberg Kravis Roberts & Co., The Carlyle Group and Providence Equity Partners (7/12). PanAmSat's "B" is priced at LIBOR plus 2 3/4% and is led by Citigroup and Credit Suisse First Boston. New Skies officials could not be reached by press time. A PanAmSat spokeswoman did not return calls.

  • 05 Nov 2004

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%