Magnum Holds Retail Round

  • 07 Apr 2002
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Magnum Hunter Resources has launched the retail round of its $275 million loan backing its merger with Prize Energy. The company has wrapped a successful bond offering and managing agent round and this is the final piece to be completed. According to a banker familiar with the situation, four banks have come in at the senior managing agent level, in addition to leads Deutsche Bank, CIBC World Markets and BNP Paribas. Pricing on the three-year borrowing-base facility is LIBOR plus 21/ 4%, but the borrowing base transaction still carries too low a spread to be of interest to non-bank players, according to the banker.

The bond offering part of the deal was upsized from $250 million to $300 million, with approximately $2 billion of orders received, according to Chris Tong, senior v.p. and cfo (LMW, 3/25). Pricing was originally higher on the bonds, but after conferring with the banks Magnum settled on an annual rate of 9.6%, Tong explained.

  • 07 Apr 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
  • Today
1 Citi 76,164.04 221 13.33%
2 Bank of America Merrill Lynch 67,026.87 208 11.73%
3 Wells Fargo Securities 56,598.86 181 9.90%
4 JPMorgan 41,806.93 144 7.31%
5 Credit Suisse 32,293.17 98 5.65%