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 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
  • Today
1 Citi 82,050.07 237 12.94%
2 Bank of America Merrill Lynch 70,926.06 217 11.18%
3 Wells Fargo Securities 62,359.46 195 9.83%
4 JPMorgan 45,920.23 145 7.24%
5 Credit Suisse 36,830.60 112 5.81%