Lehman, CIT Launch Primary Energy

Lehman Brothers and CIT Group have jointly underwritten a $165 million second-lien loan for Primary Energy Holdings that funds the acquisition of a combined 270 MW of gas-fired co-generation facilities from Reservoir Capital Group.

  • 24 Nov 2004
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Lehman Brothers and CIT Group have jointly underwritten a $165 million second-lien loan for Primary Energy Holdings that funds the acquisition of a combined 270 MW of gas-fired co-generation facilities from Reservoir Capital Group. The bank debt also recapitalizes six waste recovery projects at steel manufacturing facilities, said one official. A call to Mark Hall, senior v.p. at Primary Energy was not returned by press time.

The second-lien loan is priced at LIBOR plus 6%, said an official. The transaction is expected to close by year-end. A CIT banker declined to comment and calls to Lehman bankers were not returned. Earlier this year, Primary Energy pulled a planned $375 million "B" loan led by Credit Suisse First Boston that was intended to refinance cogeneration assets tied to steel mills in Northern Indiana. The seven-year loan was shelved after failing to land the pricing and structure the Oak Brook, Ill.-based developer wanted.

  • 24 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) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

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%