UBS, CIBC Prep Meow Mix

  • 27 Jul 2003
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UBS and CIBC World Markets are leading a $231 million bank facility backing The Cypress Group's $433 million acquisition of J.W. Childs-owned The Meow Mix Company. The new bank loan will comprise a $30 million revolver, a $176 million term loan and a $25 million second-lien term loan, said a banker, who added that syndication will launch July 30. A bank credit was repotedly chosen rather than a high-yield deal because the company has only one year of audited financials.

Price talk for the revolver and the first-lien loan is at LIBOR plus 31/2%, while talk on the second-lien loan is at LIBOR plus 61/2%, said the banker. Pro forma leverage has been indicated at four times debt-to-EBITDA and total equity represents about 55% of the total capitalization. UBS will be the sole bookrunner and lead arranger on the deal while CIBC has signed up as syndication agent and co-arranger. J.W. Childs tapped UBS last year to lead a $130 million credit in support of its $165 million purchase of Meow Mix from Nestle and Ralston Purina (LMW, 1/02). UBS and Cypress Group officials declined to comment, while a CIBC banker did not return calls. J.W. Childs and Meow Mix officials also did not return calls.


  • 27 Jul 2003

New! GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 7,029 20 10.95
2 Bank of America Merrill Lynch (BAML) 6,703 19 10.45
3 JP Morgan 4,776 10 7.44
4 Credit Suisse 4,718 9 7.35
5 Deutsche Bank 4,262 13 6.64

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Oct 2016
1 Wells Fargo Securities 67,591.81 167 11.54%
2 Bank of America Merrill Lynch 57,568.62 162 9.83%
3 JPMorgan 55,390.36 159 9.46%
4 Citi 55,051.46 160 9.40%
5 Credit Suisse 43,756.73 120 7.47%