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 Share % by Volume
1 Societe Generale 41.30
2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

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%