American Restaurant Weighs Refinancing Alternatives

American Restaurant Group (ARG) is discussing refinancing alternatives on its bank debt and senior secured bonds with Jefferies & Co., said Bill Taves, cfo and assistant secretary of ARG.

  • 07 May 2004
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American Restaurant Group (ARG) is discussing refinancing alternatives on its bank debt and senior secured bonds with Jefferies & Co., said Bill Taves, cfo and assistant secretary of ARG. This is after the company failed to meet its semi-annual interest payment on $142.6 million of senior secured 11 1/2% bonds.

ARG has limited options since the company is significantly leveraged and has only $2.1 million in cash on hand. The company failed to meet its May bond interest payment and has no further availability under its credit facilities. "We are engaging Jefferies to improve our capital structure," Taves said. In 2001 the company entered into a $15 million credit facility with Wells Fargo Foothill. Additionally, ARG has fully drawn down on a $5 million credit facility with TCW Shared Opportunity Fund III, which it entered into last October. This facility expires in 2006, bears an interest rate of 13% and has a first-priority lien on all the company's assets.

  • 07 May 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) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 May 2017
1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%