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 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%