CIBC Electric Deal Sparks Hot Reception

  • 16 Feb 2003
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International Transmission Co.'s $325 million credit was oversubscribed last week and pricing and tranche changes were not being ruled out by lead CIBC World Markets. A banker familiar with the deal would not divulge any planned changes to the deal, which backs Kohlberg Kravis Roberts & Co. and Trimaran Capital Partners' $610 million all cash buyout of International Transmission from parent DTE Energy. The fully underwritten credit includes a $185 million term loan and a $15 million revolver at the operating company level, with pricing in the LIBOR plus 21/ 2% range. There is also a $125 million loan at the holding company level priced between LIBOR plus 31/ 2-4%. A CIBC official and Trimaran spokeswoman declined to comment, while a KKR official could not be reached by press time.

International Transmission comprises a system of nearly 3,000 miles of high-voltage electric transmission lines and associated facilities and easements. DTE's Detroit Edison electric utility subsidiary was the former owner and operator of these assets (LMW 2/10).

  • 16 Feb 2003

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Citi 10.72
2 Bank of America Merrill Lynch (BAML) 10.66
3 Credit Suisse 6.45
4 Lloyds Bank 6.42
5 JP Morgan 6.35

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%