CIBC, GE Shop Therma-Tru

  • 17 Nov 2002
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CIBC World Markets and General Electric Capital Corp. have at least two tickets in hand after a Nov. 8 bank meeting for Therma-Tru. The $305 million credit facility for the fiberglass door maker refinances existing bank debt, said a banker familiar with the deal. The line is split between a $75 million revolver priced at LIBOR plus 23/ 4% and a $230 million "B" loan with a LIBOR plus 31/ 4% spread. Agent banks also receive a 75 basis point fee on the revolver and 25 basis points upfront on the "B" piece, he noted. A CIBC banker declined to comment, while a GE banker did not return calls.

Commitments on the credit are due in the coming weeks, the banker stated. GE leads Maumee, Ohio-based Therma-Tru's existing facility, while CIBC is a new relationship for the company. Therma-Tru's debt is rated BB-/Ba3, with a leverage multiple under three times, he noted. David Haddix, Therma-Tru cfo, did not return calls. The existing line consists of a $50 million revolver, a $150 million "A" loan and a $135 million "B" piece. Pricing on the pro rata and "B" is LIBOR plus 3% and LIBOR plus 31/ 2%, respectively.

  • 17 Nov 2002

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%