Qwest Trades Flat As Company Delays Long-Distance Plans

  • 15 Sep 2002
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Qwest Communications International was rumored to have traded a couple of times in the high 80s context last week, flat compared to where it was moving two weeks ago. The company announced last Tuesday that its was withdrawing its application to the Federal Communications Commission (FCC) to provide long-distance service in nine states due to lingering questions regarding the company's plans to restate its financial statements.

While Qwest was able to allay investors' bankruptcy fears by securing covenant relief for an existing $3.4 billion loan, a new $750 million credit, and sell its directories business, QwestDex, the company is not quite out of the water yet. Moody's Investors Service has kept the company's ratings on review for a possible downgrade, citing concerns that range from the company's historical financial statements to the company's ability to significantly de-lever going forward. A spokesperson declined to comment.

  • 15 Sep 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%