Duo Works On Apollo's Crop Biz

UBS and GE Capital are said to be working on the financing backing Apollo Management's $600 million acquisition of United Agri Products (UAP) from ConAgraFoods.

  • 09 Nov 2003
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UBS and GE Capital are said to be working on the financing backing Apollo Management's $600 million acquisition of United Agri Products (UAP) from ConAgraFoods. Apollo is paying $540 million in cash and the remainder in preferred securities. A banker said a $500 million asset-based revolver is the likeliest form of financing on the bank debt side. "This is a high working-capital business," he noted. There is also likely to be some high-yield financing with a bond deal of around $200 million, he added. Exact funding details are still to be decided, he said, but Apollo will contribute approximately $120 million in equity.

UAP, headquartered in Greeley, Colorado, had annual sales of approximately $2.5 billion, primarily from the distribution of crop protection chemicals, fertilizer, seed and other non-crop products throughout the North American agricultural market. "It's a distributor business to the agricultural business," stated an Apollo spokesman, who could not confirm the financing details. The transaction is expected to close before the end of the year.

  • 09 Nov 2003

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 41.30
2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 SG Corporate & Investment Banking 1,260.06 2 126,006,164,037.19%
2 Rabobank 1,081.86 1 108,185,922,974.77%
3 Wells Fargo Securities 430.57 1 43,057,020,785.00%
4 SK Securities 192.86 1 19,286,162,593.99%
4 Meritz Financial Group Inc 192.86 1 19,286,162,593.99%