New World Pasta Takes Hit

  • 24 Nov 2002
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Bids for New World Pasta sunk into the 80s after the company announced that its financial statements, particularly its accounts receivable and inventory balances, were incorrect. "There's really just no market for it," said one trader. "No one is willing to bid for it because they don't know the size of the restatement." Prior to the news the market for the company's term loan "B" was in the 99s. Wayne Robison, New World Pasta cfo and treasurer, could not be reached by press time.

Due to the errors, New World Pasta will not be able to complete its third quarter statement and is therefore now in violation of the covenants contained in its credit agreement. The company is currently negotiating waivers, but as LMW went to press, it could not be determined whether the company would be able to obtain relief.


  • 24 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) 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
  • 24 Jul 2017
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%