Investors Eager For Slice Of Jean Coutu

The Jean Coutu Group’s $1.1 billion “B” loan has traded actively in the 101 1/4 -101 1/2 context after allocating this week. Deutsche Bank, Merrill Lynch and National Bank of Canada lead the bank debt.

  • 28 Jul 2004
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The Jean Coutu Group’s $1.1 billion “B” loan has traded actively in the 101 1/4 -101 1/2 context after allocating this week. Deutsche Bank, Merrill Lynch and National Bank of Canada lead the bank debt. The term loan is priced at LIBOR plus 2 1/4%. Investors flocked to the credit during syndication, causing pricing to be flexed downward 50 basis points. “Pretty much everybody is involved. It’s a big flow name,” one banker said.
 
The term loan backed The Jean Coutu Group's acquisition of the Northeast and mid-Atlantic Eckerd Corp. stores (LMW,6/11). Jean Coutu has acquired the asset at an attractive price, and the company sees significant potential to improve Eckerd’s cash flow, the banker said.
 
The financing also includes a $350 million revolver and $250 million “A” loan. Six managing agents signed onto the pro rata with $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. Jean Coutu officials declined comment.
 
  • 28 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

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 Bank of America Merrill Lynch 57,210.26 177 12.39%
2 Citi 56,957.04 171 12.34%
3 Wells Fargo Securities 47,551.45 149 10.30%
4 JPMorgan 32,965.91 111 7.14%
5 Credit Suisse 23,990.96 75 5.20%