Superior TeleCom Auction Fails

A $16 million piece of Superior TeleCom was set to auction last Tuesday but the auction was scrapped after a minimum price of 40 was not reached.

  • 05 Oct 2003
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A $16 million piece of Superior TeleCom was set to auction last Tuesday but the auction was scrapped after a minimum price of 40 was not reached. The seller of the piece was said to be an original lender. Prior to the auction, the name was quoted in the 39-41 context, but traders said the level slipped from previous highs with bids around the 42 range. Overall, the bank debt has been growing stronger as the company moves toward emerging from bankruptcy. Last month, the name was quoted in the 37-39 context.

Early last month, Superior TeleCom, a wire and cable manufacturer, received court approval for its disclosure statement. Under the company's plan of reorganization, senior lenders with $1.15 million in senior secured claims are slated to receive 100% of the stock in the reorganized company, subject to dilution from management options and stock purchase warrants; $145 million in new senior notes; and $5 million in preferred stock. Calls to David Aldridge, Superior's cfo and chief restructuring officer, were not returned.

  • 05 Oct 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%