J.P. Morgan Provides Debt To Help Feuding Family

As first reported on LMW's Web site last week, J.P. Morgan is providing the debt financing to back the recapitalization of Freedom Communications, enabling some family shareholders to stay in the business and for others to cash out.

  • 19 Oct 2003
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As first reported on LMW's Web site last week,J.P. Morgan is providing the debt financing to back the recapitalization of Freedom Communications, enabling some family shareholders to stay in the business and for others to cash out. A source said the total transaction could be worth as much as $1.5 billion to $2 billion. Blackstone Communication Partners, a fund of The Blackstone Group, and Providence Equity Partners, will invest equity in the company, but spokespeople for both private equity firms declined to comment on how much equity would be provided and how much debt financing J.P. Morgan would provide. A J.P. Morgan spokesman did not return calls.

One source described the decision process on the recapitalization as "World War IV," while a statement from Freedom states, "The goal from the beginning has always been fairness to everyone's objectives--no simple task in a multi-generational family not shy to express its views!"

  • 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) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 May 2017
1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%