J.P. Morgan Leads Media Co. Repricing, Retranching

J.P. Morgan is shopping a repricing and retranching of media company Morris Communications Co.'s existing $225 million "B" loan.

  • 18 Jun 2004
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J.P. Morgan is shopping a repricing and retranching of media company Morris Communications Co.'s existing $225 million "B" loan. The new financing includes a $100 million "A" loan and $125 million "C" loan. The "A" and "C" loans carry spreads of LIBOR plus 1 1/2% and LIBOR plus 1 3/4%, respectively. The existing "B" is priced at LIBOR plus 2 1/4%. The credit hit the market last Tuesday. A J.P. Morgan spokesman and Craig Mitchell, Morris' senior v.p. finance and treasurer, declined comment.

The credit was put into place in August 2003 with J.P. Morgan as the lead. The Bank of New York, SunTrust Bank and Key Bank served as co-documentation agents and Fleet National Bank and Wachovia Securities acted as co-syndication agents. Other lenders are Union Bank of California, GE Capital, National Australia Bank,Webster Bank, National City Bank and the KZH Waterside vehicle. The credit also includes a $175 million revolver.

  • 18 Jun 2004

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 13.43
2 Rabobank 12.61
3 Morgan Stanley 10.27
4 Barclays 7.86
5 Natwest Markets (RBS) 7.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
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1 Bank of America Merrill Lynch 18,561.02 56 11.69%
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