Kmart’s Fashionable DIP Hits The Rack

  • 07 Mar 2002
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Kmart's $2 billion debtor-in-possession facility jumped into the market this week as $25-35 million traded in the 101 3/4 to 101 1/4 range. Dealers said J.P. Morgan was selling and that both dealers and institutional players were among the buyers. A J.P. Morgan spokesman declined to comment. One trader attributed the popularity of the paper to the asset-backed nature and attractive coupon on the deal. "It's a no brainer," he said. J.P. Morgan, Fleet Retail Finance, Credit Suisse First Bostonand General Electric Capital Corp. led the deal, which includes a $200 million institutional piece. The name's original $1.5 billion credit facility took a back seat to its younger cousin. Dealers said the name scarcely traded in the mid-60s. Calls to John McDonald, executive v.p. and cfo of Kmart, were referred to a spokesman did not return calls by press time.

  • 07 Mar 2002

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Citi 10.72
2 Bank of America Merrill Lynch (BAML) 10.66
3 Credit Suisse 6.45
4 Lloyds Bank 6.42
5 JP Morgan 6.35

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 SG Corporate & Investment Banking 1,260.06 2 126,006,164,037.19%
2 Rabobank 1,081.86 1 108,185,922,974.77%
3 Wells Fargo Securities 430.57 1 43,057,020,785.00%
4 SK Securities 192.86 1 19,286,162,593.99%
4 Meritz Financial Group Inc 192.86 1 19,286,162,593.99%