Coutu 'B' Loan Hits Mart

Syndication launched last week for the $1.1 billion term loan backing The Jean Coutu Group's acquisition of the Northeast and mid-Atlantic Eckerd Corp. stores.

  • 02 Jul 2004
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Syndication launched last week for the $1.1 billion term loan backing The Jean Coutu Group's acquisition of the Northeast and mid-Atlantic Eckerd Corp. stores. The institutional lender meeting was held last Wednesday. Bankers are waiting for ratings to determine pricing, but are initially guiding to the LIBOR plus 2 1/2-3/4% range. Deutsche Bank, Merrill Lynch and National Bank of Canada are leading the credit, which also includes a $350 million revolver and $250 million "A" loan.

Two weeks ago the lead banks signed on six managing agents on the pro rata, each taking $70 million tickets. The agent banks are Bank of Montreal, Bank of Nova Scotia, BNP Paribas, Royal Bank of Canada, Toronto Dominion Bank and Caisse de Depot. A retail meeting was held last Tuesday in Montreal, where $15-20 million tickets were offered. A Jean Coutu spokeswoman did not return calls. Deutsche Bank and Merrill bankers either did not return calls or declined comment.

 

  • 02 Jul 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

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1 Bank of America Merrill Lynch 57,945.74 181 12.35%
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3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%