Investors Await Freedom

J.P. Morgan is set to launch a $1.1 billion facility backing the recapitalization of Freedom Communications.

  • 23 Jan 2004
Email a colleague
Request a PDF

J.P. Morgan is set to launch a $1.1 billion facility backing the recapitalization of Freedom Communications. The facility is expected to come as a $100 million revolver, a $250 million "A" loan and $750 million"B" loan. Price talk on the "B" loan is LIBOR plus 21/4%. The ball park pricing on the pro rata could not be determined. The debt enables some family shareholders to remain in the business and others to cash out (LMW, 10/20). Blackstone Communication Partners, a fund of The Blackstone Group, and Providence Equity Partners are investing in the company. Calls to Blackstone and David Kuykendall, Freedoms's cfo, were not returned. A Providence spokeswoman declined comment.

  • 23 Jan 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
  • Today
1 Citi 73,870.92 208 13.32%
2 Bank of America Merrill Lynch 64,298.92 202 11.59%
3 Wells Fargo Securities 55,583.74 178 10.02%
4 JPMorgan 40,447.01 140 7.29%
5 Credit Suisse 30,239.23 97 5.45%