Lehman, J.P. Morgan Launch GNC

Lehman Brothers and J.P. Morgan have launched syndication of the $360 million bank loan backing Apollo Management's $750 million buyout of nutritional supplement supplier General Nutrition from Royal Numico.

  • 16 Nov 2003
Email a colleague
Request a PDF

Lehman Brothers and J.P. Morgan have launched syndication of the $360 million bank loan backing Apollo Management's $750 million buyout of nutritional supplement supplier General Nutrition from Royal Numico. There is also a $190 million bond offering. The bank debt is split into a six-year, $285 million "B" loan priced at LIBOR plus 31/4% and a five-year, $75 million revolver at a spread of LIBOR plus 3%. Total and senior leverage is at 3.5 times and 2.2 times. "It's a tough deal," said investors, with one noting that the lease-adjusted leverage is high. Bankers at Lehman and a J.P. Morgan spokesman did not return calls.

 

  • 16 Nov 2003

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%