Fairmount Deal Oversubscribes

  • 30 Mar 2003
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PNC Bank and National City Bank have completed a $120 million credit for Fairmount Minerals, a deal that was oversubscribed by over 100% and includes 14 banks. The Chardon, Ohio-based industrial sand provider used some of the credit to distribute dividends to shareholders and also to refinance debt. There were no requirements at this time to do so, noted Jenniffer Deckard, cfo at Faimount. "It was just good timing for the company," she said.

PNC and National City also led the company's previous $120 million deal. The approximately $64 million outstanding on the former facility was paid down with the new credit. The line consists of a five-year $30 million revolver, a $60 million "A" piece and a six-year $30 million "B" piece. The structure of the credit remains the same, but pricing on the new facility increased by 11/2%, said Deckard. The pro rata is priced at 3-33/4% over LIBOR, depending on leverage; the "B" loan is priced at a flat rate of LIBOR plus 4%.

 

  • 30 Mar 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

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 Bank of America Merrill Lynch 57,210.26 177 12.39%
2 Citi 56,957.04 171 12.34%
3 Wells Fargo Securities 47,551.45 149 10.30%
4 JPMorgan 32,965.91 111 7.14%
5 Credit Suisse 23,990.96 75 5.20%