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) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 99,251.11 279 13.17%
2 Bank of America Merrill Lynch 90,895.27 265 12.06%
3 Wells Fargo Securities 72,661.39 222 9.64%
4 JPMorgan 52,367.24 169 6.95%
5 Credit Suisse 41,885.89 127 5.56%