JPM, CIBC Set Terms On Progressive Buyout Loan

J.P. Morgan and CIBC World Markets are in the market with a C$415 million facility backing Thomas H. Lee Partners' acquisition of Progressive Moulded Products from Oak Hill Capital Partners.

  • 16 Jul 2004
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J.P. Morgan and CIBC World Markets are in the market with a C$415 million facility backing Thomas H. Lee Partners' acquisition of Progressive Moulded Products from Oak Hill Capital Partners. The facility comprises a C$50 million revolver, C$75 million "A" loan and C$290 million "B" loan. The "B" loan will be U.S. dollar-denominated and is roughly $220 million. The Canadian dollar-denominated pro rata is being syndicated out of Toronto. Price talk is LIBOR plus 3% on the entire facility. The credit hit the market last Thursday. Progressive is a provider of plastic automotive interior subsystems. A J.P. Morgan spokesman and CIBC bankers declined comment. A T.H. Lee spokesman did not return calls.

 

  • 16 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 %
  • Last updated
  • Today
1 Citi 98,544.62 277 13.26%
2 Bank of America Merrill Lynch 90,698.73 264 12.20%
3 Wells Fargo Securities 70,282.48 216 9.45%
4 JPMorgan 51,967.93 167 6.99%
5 Credit Suisse 41,545.25 126 5.59%