SunTrust Preps Dollar

  • 21 Apr 2002
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SunTrust Bank will launch syndication on May 2 for a $450 million refinancing for Dollar General, an operator of neighborhood stores across the U.S. The facility is split between a $300 million, three-year revolver and a $150 million, 364-day tranche. The new lines refinance existing bank facilities and maturing debt incurred from synthetic leases, said a banker.

The synthetic leases supported stores, distribution centers and the company's headquarters, he explained. The credit carries all-in drawn pricing of LIBOR plus 23/ 8%, while facility fees for the three-year revolver and 364-day are 37.5 basis points and 32.5 basis points, respectively. The security is the same as on the synthetic leases and SunTrust is the incumbent agent bank. Calls to company officials were not returned by press time.

  • 21 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

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4 JPMorgan 40,793.11 141 7.25%
5 Credit Suisse 30,239.23 97 5.38%