Pricing Slimmed After Weight Watchers Fills Up

Scotia Capital and Credit Suisse First Boston have shifted the tranche size and pricing on Weight Watchers International's $500 million credit facility in the wake of oversubscription.

  • 16 Jan 2004
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Scotia Capital and Credit Suisse First Boston have shifted the tranche size and pricing on Weight Watchers International's $500 million credit facility in the wake of oversubscription. The facility was originally pitched as a $250 million revolver priced at LIBOR plus 13Ž4% and a $250 million "B" loan priced at LIBOR plus 2%. The revolver was increased to $350 million and the "B" loan was decreased to $150 million.

In addition, the pricing on the "B" piece has been moved down to LIBOR plus 13Ž4% to be consistent with the revolver, according to a source familiar with the deal. "They're decreasing pricing from an already low level to below the lowest level," said one buysider who still plans to invest in the loan. "It's a good credit. At least they've had some positive deleveraging." Another loan investor said he attributes the low pricing to Weight Watchers being a "great company." He said, "Their market capital is measured in billions... There's not a lot of leverage." The revolver matures in 2009 while the term loan matures in 2010. The deal is expected to close this week.

  • 16 Jan 2004

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%