Term Loan Kicked Around For WorldCom

  • 19 May 2002
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WorldCom met with its seven biggest lenders last Thursday as market players speculate that a $750 million term loan could be a part of the company's new financing plan. WorldCom, does not need the cash from a term loan, but rather the backstop liquidity, a trader said. The company will look to avoid the term loan because it comes at a higher price, a dealer explained. The bank group will probably balk at a revolver because if the company decides to draw the line they will have the same exposure to the company as a fully funded term loan without a higher price to compensate for the risk, he noted.

Names such as Calpine have succeeded in tapping the institutional market for $1 billion in funds, but the market is wondering if investors still have any appetite for telecom paper. The company wants to add the $750 million line to its current $1.6 billion revolver for a combined $2.35 billion credit with summer 2006 maturity. Calls to the company's spokesman, Brad Burns, were not returned by press time.

  • 19 May 2002

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%