Kmart Paper Recovers Slightly

  • 23 Aug 2002
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Kmart's bank debt regained some ground last week, with a trade occurring at about the 40 level. The paper had sunk more than 20 points to the mid-30s two weeks ago after the company filed a motion to amend its debtor-in-possession facility, including the request for an additional $500 million of availability and relaxed covenants. The company has since sought to clarify the market's misunderstanding of its cash-burn rate and its funding needs (LMW, 8/19).

In addition, the embattled retailer announced a list of cost-cutting initiatives last week, including plans to save the company $66 million for its current fiscal year and $130 million annually. These initiatives include the elimination of low-priority projects and roughly 400 positions at its corporate headquarters. Calls to Albert Koch, cfo, were not returned by press time.

  • 23 Aug 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%