CIBC, GE Shop Therma-Tru

  • 17 Nov 2002
Email a colleague
Request a PDF

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 Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,665 23 13.02
2 Citi 5,781 17 11.29
3 BNP Paribas 3,530 14 6.89
4 Barclays 2,853 9 5.57
5 Credit Suisse 2,783 8 5.44

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 99,251.11 279 13.15%
2 Bank of America Merrill Lynch 90,895.27 265 12.04%
3 Wells Fargo Securities 72,661.39 222 9.63%
4 JPMorgan 52,367.24 169 6.94%
5 Credit Suisse 41,885.89 127 5.55%