B of A Lands Michael Foods Financing

Bank of America has landed the lead role to provide financing to Thomas H. Lee Partners to back the acquisition of Michael Foods for $1.05 billion.

  • 19 Oct 2003
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Bank of America has landed the lead role to provide financing to Thomas H. Lee Partners to back the acquisition of Michael Foods for $1.05 billion. Bankers said it will now become a "dog and pony show" for who is going to partner up with B of A on the deal. "If I'm B of A then I don't want to partner with anyone, but its Tommy Lee's deal," said a banker, who noted the private equity firm will spread the roles to reward banks that bring the firm acquisition ideas. Officials at B of A declined comment and a spokeswoman for Thomas Lee would only confirm B of A is leading the debt after providing staple-on financing. The private-equity firm is buying Michael Foods from Vestar Capital Partners and Goldner Hawn Johnson and Morrison. A banker described the company as a pretty seasoned issuer. "It's a Vestar portfolio name and they have taken up leverage before," he said.

  • 19 Oct 2003

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

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Rank Lead Manager Amount $m No of issues Share %
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1 Citi 82,406.77 239 12.85%
2 Bank of America Merrill Lynch 71,317.58 219 11.12%
3 Wells Fargo Securities 62,984.09 198 9.82%
4 JPMorgan 45,920.23 145 7.16%
5 Credit Suisse 37,235.50 114 5.81%