Charter Communications Settles Higher

Charter Communications' new bank debt settled a touch higher from where it was trading after breaking into the market two weeks ago.

  • 30 Apr 2004
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Charter Communications' new bank debt settled a touch higher from where it was trading after breaking into the market two weeks ago. Traders said the company's new "B" loan was changing hands in the 99 3/4-100 context and that the "A" loan was trading in the 98 3/4-99 range last week.

Banks have been paring down some exposure to the name by selling off the "A" piece, rather than selling the revolver at a considerable discount. The revolver is quoted wide in the 94-97 range. These firms have been able to sell down on the "A" but still stay within fees, traders explained. Institutional investors, on the other hand, are said to be rolling out of the "B" loan and picking up the "A" piece.

A Charter spokesman responded, "We don't look at daily trading levels. We take a longer term view of our capital structure and are committed to improving it, which should have a positive effect on all of our securities."

  • 30 Apr 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
  • 27 Mar 2017
1 Bank of America Merrill Lynch 18,561.02 56 11.69%
2 Wells Fargo Securities 18,160.90 57 11.44%
3 JPMorgan 12,092.45 38 7.62%
4 Citi 11,878.92 43 7.48%
5 Credit Suisse 9,276.87 26 5.84%