MGM Debt Holds As Sony Steps In

Metro-Goldwyn-Mayer's $1.6 billion "B" loan stayed in the 100-100 1/4 range and traded around that context after the company announced its acquisition by a consortium of investors led by Sony Corp.

  • 17 Sep 2004
Email a colleague
Request a PDF

Metro-Goldwyn-Mayer's $1.6 billion "B" loan stayed in the 100-100 1/4 range and traded around that context after the company announced its acquisition by a consortium of investors led by Sony Corp. Providence Equity Partners, Texas Pacific Group and DLJ Merchant Banking Partners joined Sony in the purchase of the film studio for approximately $3 billion in cash. The group also assumed reportedly MGM's $1.9 billion in debt. "The market anticipated the deal," a trader said.

Regardless of the size of the acquisition, the debt did not move up. "The debt has call protection, it's going to be taken out at par," a trader said. Joe Fitzgerald, v.p. of investor relations and corporate communications did not return calls.

MGM's "B" piece is priced at LIBOR plus 2 1/2%. The company's "B" loan is part of a $2.4 billion financing led by Bank of America. The facility also includes a $400 million revolver and a $400 million "A" loan.

  • 17 Sep 2004

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 41.30
2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 SG Corporate & Investment Banking 1,260.06 2 126,006,164,037.19%
2 Rabobank 1,081.86 1 108,185,922,974.77%
3 Wells Fargo Securities 430.57 1 43,057,020,785.00%
4 SK Securities 192.86 1 19,286,162,593.99%
4 Meritz Financial Group Inc 192.86 1 19,286,162,593.99%